Set up costs

[BoredCommuter]

I'm thinking about going self employed and trying to develop my business plan, I'm going to do consultancy work in the field I work in now. Can someone give me an idea of costs for:

• website design (don't need hosting etc), but a good professional looking website
• annual cost of accountant?

I'm costing up PI insurance, membership of professional societies etc, is there anything obvious I'm missing?

Thanks

• website design (don't need hosting etc), but a good professional looking website

£500. Go for something set up on WordPress so you can add/edit content yourself.

• annual cost of accountant?

From £350 for sole trader, £750 for ltd company (more complicated but likely to be more tax efficient and has other advantages).

I'd agree with MrAnchovy on those costs.

I would also add in some budget for business cards and a logo (c£100-200, logo could be part of the website brief). And money to attend networking events depending on your audience. If local networking type businesses I'd say £25 a go.

But if you are in a niche area there might be must-go type conferences/events that will be good to attend. Once you start paying for these things yourself (as opposed to as an employee) you realise how pricey they can be!

Ideally you want an email package to send out messages (I assume) www.mailchimp.com is free and does a nice line in standard templates.

If you can work from home you'll have no premises out goings but will need stationery etc.

HTH. Good luck!