Partnerships or soletrader???

[lumberjackkyle]

Right im 20 and starting to think bout the future and trying to come up with a rough plan for the next few years. Have been with a company for about a year and am thinking about becoming a contract climber to work with different people, see both big and small scale companies ect.... and then think about trying to setup a buisness in a few years.

But ive been wandering what are the advantages/ disadvantages of being in a company partnership compared to a sole trader, because seems sensible to be in a partnership (except when it all goes pete tong) to me but im new to this so any advice of any of you lot who have done it would be much appriciated

 

hope works picking up for people if its been slow!

[Peter]

If your going to contract climb then there isnt much advantage to being a limited company, but if you go into contracting then it is well worth it.

[Steve Bullman]

theres not enough money in this game to go into a partnership IMO....particularly when starting out. profits will be shared with little money left for expansion

[Yorkshireman]

sole trader, as you rightly say When it goes wrong, who pays what, who prices work who takes the blame when the work doesnt come in or gets priced wrongly, what happens when your missus needs ..... for whatever you take more than the other da da da ,

 

1 boss it rarely works with two

[lumberjackkyle]

oh yeah contracting is my main aim for now, however i was thinking long term when im ready to start a buisness later

 

oh and another side question, whats the standard rate for contract climber, providing i prove myself reliable obviously?

[Yorkshireman]

oh yeah contracting is my main aim for now, however i was thinking long term when im ready to start a buisness later

 

oh and another side question, whats the standard rate for contract climber, providing i prove myself reliable obviously?

 

A lot less than it was 6 mths ago

[Steve Bullman]

whats the standard rate for contract climber

 

theres no standard rate....you set your own rate based on A. what you think you're worth, and B. how much you need to live on. Then you either get work or you dont....you'll soon know if your pricing is right.

[lumberjackkyle]

i guess that's the best way of looking at it Steve,

 

cheers

[Steve Bullman]

i guess that's the best way of looking at it Steve,

 

 

well its certainly 1 way

[John Shutler]

im a contract climber, and find that i always have plenty of work,but the price has to be right.and one price for one firm might not work with another.

as for a partnership i dont think i could work in one,i like things done my way