Take note, actually doing the getting the hands dirty "job", is the easy bit. The hard bit is all the unpaid backroom stuff, like maintaining contacts, doing the books, placing adverts (and checking that they are actually producing enough work to justify their cost), etc
Yes, when I got made redundant 12 years ago one of the best things I did was go on "Starting up in business" course run by the local Business Link. ISTR that it was free as I was on the dole, but I think you could also attend if in employment for a nominal fee.
Very useful by covering various "company options (sole trader, partnership, ltd co etc), the legal requirements, insurance, record keeping, book keeping, tax and VAT etc etc
Hear, hear. I think a lot of people forget that you have considerable expenses when self employed. =A330/hr might seem very good to a wage slave but remember the Inland Revenue will want their cut each year, you have to pay for a vehical. True costs are at *least* 50p/mile, do a job 30 miles from home and your first hour is just paying for the vehicle to get you there and back not putting bread and butter in your families mouth.
How about pension contributions, private health care? permenant health insurance (if you are self employed you don't get company *or* statutary sick pay, where will the money come from if you have an accident and can't work for a couple of months)? Life insurance on your partner, if they have an accident and can't look after the kids and you have to stop work where does the money come from...
None of which are particulary major expenses in themselves, just a few tens of pounds/month but they all add up.
I love it, but then I've been fairly lucky in always getting a good rate such that 10 to 15 days/month average is more than enough to live comfortably. Lots of time home to do what I want and see the kids grow up etc. How ever in the last couple of years the work has started to dry up and cash flow is now a major headache. I feel the need to diversify, what where those sparky exams again ...