Following redundancy (company went into administration and closed) in December 2009 I set up my own environmental consultancy as a limited company. I'd never had any great aspirations to run my own business but was encouraged to take the opportunity to try it.
In my first year of trading it was all very new and scary and I didn't have much time to evaluate whether I enjoyed it or how well it was going . But I have now been up and running for 2 years and 1 month and since the later part of last year have been increasingly unhappy and uncertain about what to do.
First year turnover was £60,000, second year turnover was £134,000. First year net profits were approx £2,000 and second year profits approx £30,000. I took an income of £10,000 (after tax) in the first year and £26,000 in the second year so by the second year my 'salary' is probably equivalent to that which i was previously on in employment which was £31,000. The point of this is that I seem to be making a success of the business but not making mega-money either especially given that I now work longer hours than the 9 to 5.30pm Mon-Fri I was doing previously.
The problem is everyone else sees my success and congratulates me and is encouraging me to expand and take people on. Whereas I am finding the pressure, stress and responsibility of running my own company, keeping up with client demands and workload and keeping up-to-date with legislation all too much. I am also scared to take someone on as I have no experience of people management and wouldn't class it as a strength of mine. Also I couldn't even then totally leave them to run it for me when I went on maternity leave. I am stressed and unhappy. I also don't have enough free time to keep my house in the state i want it or see my friends often enough.
I am currently 10 weeks pregnant with DC1 and have no idea what to do. My instinct is to give up the business and sooner rather than later so I have a chance to relax, be happy and sort my house out before the baby arrives. But I'm worried about how other people will judge me and what I will do longer term. Having not tried it I don't know if I'll enjoy being a stay at home mum either and I worry that much further down the line once DC are at school I may be bored and lonely and regret losing touch with the workplace. I also worry what influence me not working may have on my DC as my own mum didn't work (due to disability). But I also see it as a future opportunity to try something different (as I've never loved my job).
Finances don't really influence my decision as DH earns enough to cover our outgoings and most luxuries although we would have to save harder for things like holidays and home improvements. The only concern I have in that regard is pensions. DH would love me to give up work and be happier with the added bonus he'd no longer have to do housework but he seems to be the only one who is supporting me!
Would I be crazy/stupid to give the business up? Any thoughts, comments, advice much appreciated!