Going Bust: How to Ruin Your Business by Neil Boom

Popular TV programmes like The Apprentice, which starts again this week on the BBC today, inspire many people to start businesses.

In the UK alone, around 400,000 new businesses are started each year.

With today’s poor job market, many more people are considering setting up a business, especially those who have received substantial redundancy pay offs.

But is this a wise move? Small business owner Neil Boom and author of the new satirical business book Going Bust: How to Ruin Your Business, says starting your own venture is often a sure fire way of losing your shirt.  Neil Boom’s new book is a humorous guide to running businesses, which aims to make the venture fail as quickly as possible, so their owners can return to the old lives with the least damage done.

Here are ten good reasons NOT to start a business.
1. Over half of all new ventures go bust within a couple of years. Is this
how you really want to spend your redundancy money or hard earned
savings?

2. Running a business is much much harder than going to work, and when
things go wrong – which they will – you’ll have no boss to blame. This
is clearly no fun.

3. And that’s the last time you can throw a sickie. Doesn’t bear thinking
about does it?

4. You’ll have to understand boring things like profit and loss accounts,
cash flow and profit margins, when you could be talking about The X
Factor instead.

5. You’ll be lonely. Running a business, especially as a sole trader, can
be a lonely affair: no meetings, no gossip by the copier, no flirting
with Cheryl from accounts.

6. Say goodbye to sleep. You’ll never have time for sleep again, as you
rise with the paper boys and go to bed with the drunks.

7. If you end up badly in debt and are forced to go bankrupt, you’ll ruin
your credit rating. That’s no cheap mortgage for you ever again, sucker.

8. Remember how much you liked seeing your family and friends? Kiss them
goodbye too.

9. Remember too your company pension, car, bonus and other benefits. All
gone, probably never to return.

10. Did I mention holidays? Gone too, apart from a few odd days a year when
you’re far too tired and broke to enjoy them.

Going Bust: How to Ruin Your Business is available from www.amazon.co.uk.