AIBU to turn down a well paid job to try and start my own business

[Allthenamesiwantaretaken]

Hi, first time on AIBU but wanted to canvass opinion particularly from anyone with a similar experience. I was made redundant earliermon last year but secured a temporary job with the same salary for the same company. I am being told they want to make my position permanent but as is a temp contract I can leave in a few months and take the redundancy payment. My current job is fine and my colleagues are lovely but since the whole redunadancy it has opened my mind to what else has been out there.
I have had an idea for my own business for sometime and I really want to just try and see if I could make it work. The redundancy money would give me a year to try and see if I can make it work and if after 6 months I cant then I will have 6 mnths to find a new job.
On top of this, I am about to get married and we have just put an offer on a house that will be the family home for the family we hope to have, which does add pressure. I am the higher earner of the two of us, at the moment, and wondering if I should be puttingmour fnancial security first. My partner is suportive me trying to set up my own business but I am scared of how we will manage if I fail.
Sorry this post has got so long but in summary AIBU and totally crazy to consider this?
Thanks

Could you cope financially with saving for the wedding/babies and paying the mortgage on DP's salary? That's a lot to take on for one person, and chances are you could be working for a long time without seeing any monetary gain from your business idea. Is there any way you could build up the business slowly while working in your current position?

Depends on what the business is. To be honest, most new small businesses fail at the moment. what may sell now could be out of date in six months time.

It really isnt a good time to take risks financially.

Depends on the business you intend on starting.

Its a digital based business with the plan to go into products, I do have quite significant experience in the area, I would say its a current gap in the market

Don't you need capital? (as well as money to cover the first year).

This sounds like a tough decision. In your shoes i would take the job but try to see if you can start something on the side to see about viability of your own project. What about any savings?

Can you do it off the side of your desk? Since so many businesses fail, is there any way to start small and part-time to see if there is a market and then move to full-time once you now.

Take the job, and do the business on the side for a few months and see how it goes.
This is based on my DH being self employed and struggling to bring work in. People are tightening their belts a lot at the moment.

Is it a service? I was offered a job during redundancies at my workplace 2 yrs ago but turned it down to go freelance with about 6 weeks pay in lieu of notice and my savings. I had a small amount of work lined up as an adult ed teacher but otherwise just jumped. V V V happy I left. I think that if it's a needed service you're more likely to thrive as it's cheaper to pay a short-term consultant than recruit in this climate. YANBU if you have your partner's support.

Unless you have a sound financial back up plan - be it savings or enough income from your partner I personally would take the job.
This is based on personal experience. It's tough out there and unless you are able to finance yourselves for 18 - 24 months it's a big risk to take.
That said, nothing ventured and all that and if you have confidence and a realistic business plan then it could be a good time to set up.

Wow that's a difficult one. But there are some many things that determine whether yabu or not.
Dh had a well paid job (very well) I had a decent paid job. Dh has always wanted a restaurant. I was on mat leave in 2011 and he decided now was a good time. Economically it wasn't and it wasn't the ideal time for us. The day he put the offer in I went into labour.
However he had a complete business plan, has always worked I the industry and I believed it would work. It did and now I have left my job to work with him. Its amazing and I feel so lucky. It could have gone the other way.
We worked hard (I worked for him and my own job and we shared childcare) dh worked about 70 hours a week.
My point is that sometimes it may not seem the best plan but works. It may seem like a sure thing and fail. Be sensible, if you don't know the industry, find out all you can, have a proper plan. Even have a cut off point where you say enough is enough and put the business to bed. I know 2 people who have lost everything because they didn't know when it was beyond fixing.
When dh started discussing this, I was insistant on the details. I wanted to know everything, which he obliged with. It didn't feel a risk and he knows the industry inside and out.
Had he wanted to set a florist (picking an industry he doesn't know) i wouldn't have been as supportive and he wouldn't have proceeded without my support