Please don't do it
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ONE of Britain's most successful self-employed businessmen has come up with a startling piece of advice for those about to launch their own company — don't do it.
Leon White, who represents around 1,3 0 0 small businessmen as the North-East Regional Chairman of the National Federation of Self-Employed and Small Businesses claims the odds are stacked too heavily in favour of ultimate failure.
To back his conviction he recently refused an invitation to attend a London conference associated with the European Year of Small and Medium Sized Businesses, a campaign organised by The Economist. And he cites six examples of what the uninitiated businessman faces: • A desperate lack of financial backing, with the cutting back of the Loan Guarantee Scheme making it even harder to secure a bank loan.
• Cripplingly high rates in many areas.
• Unfair competition from larger traders and businesses which are able to negotiate better discounts and deals.
• Unfair 'loading' of such things as electricity, telephone and gas supplies to business users.
• Overpowering employment legislation which forces firms to take on workers and makes it expensive to lay them off.
• The increasing amount of Government paperwork. `They must realise that where there is no appreciable margin between working for yourself and for others, people pack up," said Mr White.