Start-up business or return to work?

[Mummanoodle]

I’m due to go back to work soon, after my maternity leave comes to an end. I’m really unsure about returning to my current job due to several factors: 1) the stress levels of my work, 2) the long commutes as my job takes me all over the country, and 3) uncertainty of how I would fit this around childcare for 2 young children. I looked into setting up my own business and found something I would absolutely love to do and would give me opportunity to collect my children from school and nursery and have more quality time with them, but I’m anxious about whether I could make it a proper success and whether I’d make enough money. AIBU to consider this now? What is best for my family? What is best for me? Sometimes I feel these two answers conflict with each other.

Have you worked through a business plan for your idea? That's the most critical thing. That way, you can work out what level of business you need, to generate enough revenue and profit - you can then compare this with the salary you'd be earning when you go back to work.

But starting a new business is hard work. You may take some time to build up a level of return that you need - and you will still require childcare.

Do you have a partner to share the household costs with? Are they supportive of you and your idea? Are they prepared to shoulder the burden of family/household financial responsibilities until your business is up and running?

YANBU to consider this idea, but if you haven't worked through the realities of how you would make it work then YAVU!

I will be honest OP! I have 4 kids with my dh. We have 3 businesses. He works on sites and I do all admin/social media/books/payroll etc and we are both so burnt out we are considering cutting our losses and packing it all in. It consumes our whole life and its not fair on the kids. But unfortuantly we can't just pack it all in as it's not that simple.

If you do decide to start up take a lot of time planning and researching and working out what you want from it. Be strict with your schedule. Learn from us and if its not something that will take up all your time then it should be OK. I dream of dh getting a job in a local shop and me part time in school hours so I can spend more quality time as a family. But it's not possible right now

Adding to my post.

1. Stress levels at work.are hard but you can ignore on your days off. Self employed, you never have a day off!
2. You have the option of looking for a new job. Self employed you can't just change your mind and stop as you have responsibilities. Costs with HMRC ,( we have staff to consider too) contracts and costs.

Really depends what your business idea is

To me starting my own business sounds infinitely more stressful than working for someone else, but you may be different. Is a different job with less travel an option?

Absolutely agree with @Movingandlooking here:

1. Stress levels at work.are hard but you can ignore on your days off. Self employed, you never have a day off!

When I first went freelance (pretty much for the same reasons as you @Mummanoodle) my dad gave me the best bit of advice: "you'll be the worst boss you've ever had!"

You also need to make sure that you are very disciplined with your time - it's very easy, when it's your own business, for it to become all-consuming. Hard stops at the end of the day are really important, and ideally a totally separate area of the house for your business. (That obviously depends on what your business is). But you do need to be able to separate your business life from your home life.

@BIWI completely agree. And depending on your business it might not he possible! So you either have to know this and accept that's how it is. Or if that's not going to work for you or family then run now!

This thread is a year old @albertlane - I'm sure that @Mummanoodle has made her decision now!

Depends on what the business is OP, I'm a PT and have been freelance a long time. It works v well for me but I have a lot of experience in the field, know the industry very well, solid clientele, flexible options (rent out gym time, clients homes, my home, park), and so on. It can be cyclical especially if there's a bad economy as PT sessions are seen as a luxury but on the whole it's far more flexible and rewarding (for me).

And again ...

This thread is a year old @Workoutinthepark - I'm sure that @Mummanoodle has made her decision now!