Money Box Live: How to Start a Business

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 28 February 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you thinking of turning your 'side hustle' into a full time job?

Perhaps you want to take the plunge but don't know your sole trader from your limited company.

This Money Box Live is a toolkit for anyone planning to start a new business - or those who've started one but might need a helping hand.

And we have Dragons' Den star Deborah Meaden on the show to talk about what makes a good idea, the positives of running your own business as well as the pitfalls to look out for.

Following the pandemic there was a huge drop in the number of self-employed people but last year more than 100,000 people decided to go it alone and work for themselves compare to the year before - and it's the over 50's taking the lead according to the freelancer organisation IPSE.

It's also deadline day to fill out your self assessment tax return - so we'll be answering all your tax questions too.

Felicity Hannah is joined by Vicks Rodwell from the Association of Independent Professionals and the Self-Employed and Richard Jones from the Institute of Chartered Accountants in England and Wales.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(First broadcast 3pm Wednesday January 31st 2024)

Transcript

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0:00.0	On a winter's night in 1974, a crime took place that would obsess the nation.
0:07.0	It was an extraordinary news story.
0:09.0	The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,
0:14.0	mistaking her for his wife, then somehow just disappeared.
0:18.0	One of the great mysteries in English criminal history. We're still looking for Lucan.
0:21.6	It's honestly one of the most powerful stories of my lifetime.
0:25.6	I'm Alex Fondunzelman.
0:26.6	This is The Lucan Obsession.
0:28.6	Listen on BBC Sounds.
0:32.6	BBC Sounds, music, radio, podcasts.
0:35.6	Hello, this Moneybox Live podcast is a toolkit for anyone planning to start a new business
0:41.9	or anyone who started one but might need a helping hand.
0:45.8	And you don't even need to step into the den with a killer pitch because we've borrowed a dragon for you.
0:51.2	Lots of people are going to have great ideas, but they have absolutely no way of
0:55.6	delivering them. You've got to be able to show why you? Yes, entrepreneur and investor, Deborah
1:00.7	Meadon, is on the show. So do you dream of quitting and going it alone? Plenty of people do.
1:06.6	Despite the pretty tough financial climate just now, the freelancer organisation Ipsi says it's seen a January jump in people accessing its self-employment advice.
1:16.7	In fact, the number of people working for themselves is starting to slowly climb after a big drop during the pandemic.
1:23.3	And it's the over-50s leading the way.
1:26.3	The number of self-employed business owners aged 50 rose to 1.1 million last year.
1:31.7	Plus, if you're running your own business, you're also sorting your own taxes,
1:34.9	so we will be answering your self-assessment questions.
	...

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