Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

Start Up Millennials and Judas Priest Reborn

17 November 2017

Steady job, steady income? For the cohorts of new entrants into the workplace market, there’s a popular belief that the last thing they want is a nine to five with a nice pension plan.

Well, let’s step back from that for a moment. Strip away the media hype, and even though we’re several decades into the enterprise culture, the concept of job-based career is not exactly dead in the water. It’s just that the waters are a bit more choppy these days. Getting on board for that sort of life-long career voyage is less cruise ship and more banana boat ride.

That’s probably why plenty of young workers are turning to the lifebelt of founding their own company. They’re taking the helm at their own companies, come hell or high water. To back that up, the Financial Times, essential reading for every twenty-something start-up entrepreneur, says that since the financial crisis, the idea of sole proprietorship has fallen out of favour, and more self employed people have set up as companies to become more tax efficient.

Those 300,000 young directors may make little more than a dent in the more than two million businesses in Britain, but there’s obviously a trend.

For those not fresh out of freshers week, who have already sailed the seven seas, and had a job in every port, there’s still time to launch your own business boat. If, after a lifetime below decks, you’re ready to step up to the bridge, you’re not alone.

That most precarious of careers - professional sport - has persuaded some smarter players to substitute themselves, and be prepared for life after the final whistle.

He might already have played for two French and two English clubs, but when international footballer N’Golo Kante hangs up his boots, he’s ready to start his own accountancy firm, having already begun formal training. Good choice we all say here at Springfords. If N’Golo can’t make it to one of our offices for a chat about his new career, he could always speak to some Chelsea team-mates from earlier generations, like Pat Nevin now an author and BBC broadcaster, or Eamonn Bannon, who played for Scotland before becoming a successfull chef.

Like so many things though, there is a big warning in the small print. Past performance is no guarantee of future prospects.

Take the case of KK Downing, a successful rock guitarist from Birmingham. He swapped swinging an axe for that heavy metal band to swinging a nine iron at his own corporate venue and golf club. Sadly, Astbury Hall recently went into administration. KK may have missed the cut this time, but there’s always a reunion tour.

With effort, a change of career can work. It will take effort, but can be rewarding and reinvigorating. At Springfords we’ll make sure you stay on song after you hang up your six-string, and that the financial and tax implications of your new path don’t let you lose sight of your new goal, even if you are retiring from professional football. We’re with you for the journey, not just the kick off.


About the Springfords blog

springfords blog

Some news, views and comments about everything and anything, relevant and irreverent.

rss blog feed

Recent posts

23 Aug 2018
Scams Texts and Fake Steaks - avoiding them

30 Jul 2018
Networking for not necessarily absolute beginners

19 Jul 2018
Working for yourself must also mean learning for yourself

12 Jul 2018
For a singular couple, a plural relief

26 Jun 2018
Cloud tech not pie in the sky

12 Jun 2018
Making Tax Digital: penalties and special cases

Contact Us
  terms & privacy
Part of Baldwins