Hello to all from Newcastle

Good day all.

Just a quick hello from Dave in Newcastle.

I've been working away abroad for many years and now looking forward to returning to enjoy some time at home.

Ex maintenance electrician with Tarmac Roadstone back in the 80's and now looking to start up small business on my own.

Looks like a great forum, so really looking forward to participating.

All the best.

Dave.

Welcome Dave, glad you like what you see, wait till you take part! 
 

so what you been doing abroad? 
small business as in what? Domestic commercial industrial or specialist? 

Welcome mate.

Are you up to speed with the latest version of BS 7671, part P and the CPS’s

Thanks alot for the welcome guys.

Lots happening in the world these days, and as a result my contract working in the oil industry as a structural steelwork designer is coming to an end.

(having said that i am currently on an oil terminal in Nigeria, and will continue working until international flights are back up an running).

I'm now planning to start my own one man business, working  domestic installations in UK.

Bit of history.....

I left the electrical industry back in 1989 after being offered a 2nd apprenticeship by a mates father in a design office.

It wasn't that i didn't enjoy the work i was doing up to that point (i actually really enjoyed it), but this seemed like a pretty good opportunity, and it turned out to be good decision.

Up to that point i worked on quarry equipment during my 4 year apprenticeship in UK, in the gold/platinum mines in South Africa, and on various power stations and gold refineries in various countries in Southern Africa.

I think i had a fairly good broad experience in the electrical industry at that time and have kept my hand in over the years to a small degree, so from a practical point of view i feel pretty confident that i will be ok.

Also a good friend in Newcastle  has a one man business doing domestic work, and i'm going to help him out for 2 or 3 months to blow away the cobwebs.

Regarding getting up to speed with the various regulations etc, i'm currently brushing up on 18th edition, and when i eventually get home plan to spend a few months taking necessary exams etc.

My existing City and Guilds qualifications were written on parchment and haven't seen the light of day for 30 years or so lol........

This is going to be a huge change for me, but it's one that i'm really looking forward to.

All the best.

Dave.

Good luck mate.

Because you are aiming at domestic and you will be operating in England you'll need to comply with Part P and therefore membership of a CPS so you can self certify etc is going to be a must.

I sense the next 12 months here are going to be very tough so maybe stay put for a while if you're getting paid

Thanks for the info Murdoch, really appreciated 

At the moment, the plan is to hang on here for as long as possible.

Due to tax laws in UK and the corona virus pandemic, I think the remainder of the year and up to next April will be taken up anyhow, working with my sparky mate in Newcastle, and also getting all the legal requirements that you mentioned above sorted out.  I will also need  to organise myself some transport, probably a small work van that will double as everyday transport.

With some luck things will have returned to something like normal by that time 

I'm in the fortunate position that i have savings put by that will allow me to do all of the above without too much stress, so i'm going in with the mindset of trying to enjoy it.

Cheers.

Dave.

Dave

FYI I budget around £500 per month for all the costs associated with running the business excluding buying a van. Last year it was a bit higher but I had a good year and took the opportunity to replace some tools and buy extra ones. About £2500 of this sum is related to the van - fuel, insurance, tyres, servicing, road tax etc

Hope this helps

That is helpful info Murdoch...thanks for that!

I need to buy transport anyhow, so i was thinking if i get a decent van, i can us it for day to day transport also. (thinking Peugeot Partner, Toyota Proace or similar).

I have a pretty comprehensive toolkit as is, but will need to kit out with new test equipment, small generator and maybe a few more power tools.

Add in cost of any extra training and certification, it definitely all add up.

Vehicle and fuel aside Murdoch, what would you say is your biggest expense?

David H said:

That is helpful info Murdoch...thanks for that!

I need to buy transport anyhow, so i was thinking if i get a decent van, i can us it for day to day transport also. (thinking Peugeot Partner, Toyota Proace or similar).

I have a pretty comprehensive toolkit as is, but will need to kit out with new test equipment, small generator and maybe a few more power tools.

Add in cost of any extra training and certification, it definitely all add up.

Vehicle and fuel aside Murdoch, what would you say is your biggest expense?

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I run Quick books pro so getting this data takes seconds

Here is a list of my totals for last year:

Bank Fees                     £100 (I run a proper business account to keep everything very separate)

Certificate software    £90 (I won't use software provided "free" by the CPS's as it locks you into them)

CPS (Stroma)               £307 (as Stoma was acquired by Napit last year I suspect this will rise to about £500 this year)

Insurance (PL & PI)     £182

Marketing                     £600 (include website / email hosting / logoed work wear / adverting etc)

Misc                             £930 (includes accountants fees and loads of other stuff )

Office supplies            £149

Postage                        £90

PPE                                £30

Mobile phone              £400

Tools                             £800 (includes calibration of testers)

Van                             £2500 (includes all costs except buying it)

Nothing really changes much - the cost I'm likely to have soon will be replacing my MFT (ouch)

@Murdoch what value is your PL/PI and who is it with? 
 

also i had a fluke 1652 that had gone faulty on me, so took advantage of a fluke trade in deal and got a new 1664FC for approx £600. Via Megger marks old gaff. 

Thanks again Murdoch, that info will really help me to plan ahead for likely overheads.

David H said:

I think the remainder of the year and up to next April will be taken up anyhow, working with my sparky mate in Newcastle,

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I think this is your best move for the moment  .  Gives you time to take on board the various hoops we have to jump through these days .  

Stay on board in the Forum , some excellent advice from the guys on here. 

Murdoch said:

Mobile phone              £400

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JEEZ!!!   Murdo      Are you transmitting the BBC on that phone  !!!     

Evans Electric said:

JEEZ!!!   Murdo      Are you transmitting the BBC on that phone  !!!     

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he might be an iSheep?

Evans Electric said:

JEEZ!!!   Murdo      Are you transmitting the BBC on that phone  !!!     

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Hum ... no . Saying no more.

Sharpend said:

@Murdoch what value is your PL/PI and who is it with? 
 

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£2 million PL & £250 k PI

gallagher ( who used to be cheaper courtesy of an agreement with Stroma)

Andy™ said:

he might be an iSheep?

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People do have these contracts :

https://www.carphonewarehouse.com/apple/iphone-11-pro.html#!colour=midnightgreen&capacity=512GB&dealType=pm

why is quite beyond me

Murdoch said:

£2 million PL & £250 k PI

gallagher ( who used to be cheaper courtesy of an agreement with Stroma)

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thanks Murdo, I’ll look them up. 

Sharpend said:

thanks Murdo, I’ll look them up. 

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Pm me if you want the details