How to grow your own business: Ed's story
Meet Ed, 24, from Nottingham and find out more about his life as a business man. Ed's the owner of a specialist truck advertising business called DrivenMedia. Part of our Bitesize world of work series.
Never underestimate being stuck in rush hour.
- Ed knew he wanted to run his own business so he chose Business Studies, Business Materials, and Finance at A-level
- To learn the ins and outs of running a business, he studied Business Studies at university
- He had a light bulb moment when he was stuck in heavy traffic – why not advertise businesses on the side of trucks? And so his company was born
- Despite facing challenges with his dyslexia, he has become a successful businessman and advertising specialist. He thinks if he can do it, you can too!
What to expect if you want to be self-employed
Working for yourself looks different for each person and each business, but in general it means you:
- run your own business and are responsible for its success
- can decide how, when and where you do your work
- charge an agreed, fixed price for your work
- sell goods or services to make a profit
- can hire people at your own expense to help you or to do the work for you.
The salary and working hours when you own a business can vary enormously but what's most important is that you work hard and love what you do.
You can be both employed and self-employed at the same time. You can work for your employer during the day, for example, and run your own business in the evenings and at weekends. It’s important to contact HMRC for advice if you’re not sure if you’re self-employed.
You can get help with setting up or developing your business, through the government’s business support services, for example, for advice about tax or how to find funding to start your business.
This information is a guide (sources: LMI for All, National Careers Service, GOV.UK)