Alright, so. I'm 17 and I've been looking for a job for quite a while now, a few months actually. And it's becoming increasingly annoying to not have one, I live in the UK(Wales) and I've come up with a great idea, why not become self employed? great idea, but I have absolutely no experience with being self employed I just know I have the drive and confidence to try. I just have a few questions, well a lot of questions.
Tax/NationalInsurance
How does that work, I know I have to pay it or I'll end up getting into a lot of trouble and if I'm self employed I'm responsible for paying my own, but how do I go about doing that, and can it be done monthly/weekly straight out of my bank account. I've read up a little about it and It said I'd need to pay yearly, but I only had a quick read and I'd much prefer being able to pay weekly/monthly.
Funding
I don't actually have any money to get started up, so would my best bet be to wait until I find a job, save up and go from there, or maybe try and get a bank loan? I have no idea how much I'd need but I can research all that and get some rough estimates. If I were to try for a bank loan how do I go about doing that? I think I'd have to make a business plan or something right? D: I have no idea, but what could I do to sway it in my favour of them giving me one?
I want this cart, but it's from an American company and I have absolutely no idea if they ship across the UK I've emailed them, just waiting for a response. but I can't find any good carts that are sold in the UK, they are all terrible really =/
Profit
Now I'm guessing theirs a few of you on here who may have done something similar at some point in your life, how much profit were you making? I know it depends on location and how dedicated you are, but I live in Cardiff which is a really big city, theirs a lot of people in the city centre on a daily basis. also was it worth it? and how much did it cost for you to start up?
I'm sorry for the long read but thanks for your time guys, and I appreciate if anyone could answer even just one of my many questions.