Practice Start Up/Career

I qualified as ACA last year, member from Jan this year. Previously did AAT. I am currently working as a (unrecognised - pay/nor contract reflects it) manager for a partner in my current firm. Whilst i have enjoyed the challenge and change of the manager role, it's now becoming a little boring, as everything i do goes through the partner, i am unable to meet clients etc, and am starting to feel i have nothing to put in the effort for. Perhaps i should say also that over the last few months most of the work/letters/advice etc i've completed and passed to the partner has come back to me unchanged, ready to be sent to the client, so i feel like i'm giving the advice yet the partner gets the credit. I am at a crossroads and wondering what to do next career wise, whether to sit it out in current firm and hope a better position arises, to look for other jobs, or whether to start up by myself.

Starting up by myself appeals to me quite a lot, i like the flexibility of it, and i'm not afraid of the hard work as it will be worth it, to call it my own. However i believe i have to wait until i've been a member 2 years before i can get my practicing certificate? which is not so good. Also i'd be interested to know from anyone else who has started their own practice as to how much capital i would need to start up...roughly. I appreciate it's a bit of an unknown quantity. I currently have around £20k in savings, however am due to get married next year, so there's also potential house buying etc to consider in spending that money. Also, what other things would i need to think about, PII, getting new office equipment, software etc?

Any advice or comments on things to think about would be greatly appreciated.

Comments
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ireallyshouldknowthisbut |

I agree with the other

noggs |

Management experiance

Steve McQueen |
Steve McQueen's picture

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ireallyshouldknowthisbut |

Useful advice

John Stokdyk |
John Stokdyk's picture

Walk before you try to run.

Spartacus |
Spartacus's picture

ICAEW

Luke |
Luke's picture

Agree with the points raised

Jason Dormer |
Jason Dormer's picture

Thanks, now for another related ish question

97mwill |

I think that what you are

Jason Dormer |
Jason Dormer's picture

Practice start up advice needed

starling |