Will a lot of small domestic tree firms go bust?

[Clutchy]

2 hours ago, GarethM said:

If you want to be pedantic, it's me trading as insert company name.

 

Don't you think I know the difference between them and have chosen what is best ?, I've even said it's a future goal. So why jump feet first until you get on your feet instead of going ltd and falling on your face as per the initial topic!.

For what its worth, I can't think of any scenario where being a sole trader is best. Out of interest, why/how have you come to that conclusion?

 

Also, a bit of positive pressure is good, failure is not an option has to be your mentality 

 

Sounds like you've got 1 foot in 1 foot out. 

 

Go hard or go home. You need the 'I'm running a business' mindset from the get go and to treat it as such. 

 

Anyway 

[Mick Dempsey]

Just now, Clutchy said:

For what its worth, I can't think of any scenario where being a sole trader is best. Out of interest, why/how have you come to that conclusion?

 

Also, a bit of positive pressure is good, failure is not an option has to be your mentality 

 

Sounds like you've got 1 foot in 1 foot out. 

 

GO HARD OR GO HOME, You need the 'I'm running a business' mindset from the get go and to treat it as such. 

 

Anyway 

You underestimate how much I want to go home.

[GarethM]

I'm not the horse, but you're definitely trying to force it to drink.

 

Your option is all people should be registered with companies House, in your eyes they're just fly by night types. Even tho sole trading types make up a large percentage of small businesses.

 

I'm not registered as what I do is relatively low risk. Even my last employer ran it that way for 30+ years without problems.

Edited October 22, 2022 by GarethM

[AHPP]

6 minutes ago, GarethM said:

I'm not the horse, but you're definitely trying to force it to drink.

 

Your option is all people should be registered with companies House, in your eyes they're just fly by night types. Even tho sole trading types make up a large percentage of small businesses.

 

I'm not registered as what I do is relatively low risk. Even my last employer ran it that way for 30+ years without problems.

I think you’re half confusing me with someone else in this thread. I haven’t expressed an opinion on whether you should sole trade or incorporate. I just clarified a difference. 

[GarethM]

You spent like half a page describing a boat analogy on my driveway.

 

Whilst you didn't do the derailing, my initial thoughts were originally pretty common sense. Which has since snowballed into a why aren't you xyz etc.

Edited October 22, 2022 by GarethM

[JaySmith]

Unfortunately I think a number of firms will be lost. In the last three or four years lots of one man bands have cropped up as people either got fed up with working for someone or decided they wanted a bigger slice of the pie. This has always happened, man leaves employment, goes subby climbing while he builds up some clients and gets a truck, chipper etc. This coupled with the amount of finance around has led to people starting up. Finance has never been so readily available or easy to access, you can even finance a rope and karabiner now let alone a £30k truck and £20k chipper, this has allowed lots to start up where as before they may not have had the cash in place to do so. 
 

I think the biggest change maybe that some go back to freelancing to the bigger firms if their own work dries up or they go back on the books at a firm. However if it really does slow down to that extent even the bigger boys may have to streamline and drop crews/lay guys off. There will always be council, highways, rail and commercial work where there is a duty of care but even councils are being squeezed trying to make the sums add up and put round pegs in square holes. The biggest drop off will be the residential market, if Mrs Miggins can’t pay the gas bill then the conifer hedge can wait until next year for a little trim and that reduction can wait. Therefore the firms that do almost all residential and little diversification will suffer. 
 

Variety and a mixed bag of clients will be key, those who have clients across the different areas, residential, commercial, council etc will probably whether the storm better imo. 

[Clutchy]

19 minutes ago, Mick Dempsey said:

You underestimate how much I want to go home.

 

Even if you worked 3 days a week it still makes sense to limit your liability and have a more tax efficient way of paying yourself

 

Still yet to hear the reasoning for being a sole trader 

 

Has nothing to do with turnover 

[Clutchy]

6 minutes ago, JaySmith said:

The biggest drop off will be the residential market, if Mrs Miggins can’t pay the gas bill then the conifer hedge can wait until next year for a little trim and that reduction can wait. Therefore the firms that do almost all residential and little diversification will suffer. 
 

Variety and a mixed bag of clients will be key, those who have clients across the different areas, residential, commercial, council etc will probably whether the storm better imo. 

 

Agreed, trees fall down the priority list much quicker with domestics vs commercial 

[John Shutler]

4 hours ago, Clutchy said:

Our industry really means you should have a limited company, makes no sense to be a sole trader IMO 

absolute rubbish 

[Mick Dempsey]

Now we’re farming!