How many times have you finished another week at the office, only to collapse on the sofa, glass of wine in hand, and dream about the other career you’re going to have? The dog walking business that will combine your love of pets with the great outdoors; the journalism career that will finally allow you to make the most of your writing ability; or the move to nursing, which is what you’ve secretly always wanted to do?
It’s not just a dream
The reality is that most jobs come with their ups and downs, but if you’re serious about a career change, it needn’t be just a dream. Plenty of people take the leap every year to move to something they really want to do. Those who make the move successfully have done a lot of research – mainly into how to fund it – before they start. There are a number of different funding options, including getting a personal loan, but as with all credit agreements, you should make sure they’re right for you before you sign up. Guidance is available from www.moneyadviceservice.org.uk
Simon Raines was a commercial laundry salesman earning good, steady money, when he changed his career and set up his own brewery: “Understanding how my income would change was one of the biggest questions I had to deal with when I decided to set up my own business. There have been many rewarding moments, but it was a huge change from getting a set monthly salary to stepping into the unknown. I did a lot of planning and knowing where I stood certainly helped.”
Do not rush with decision
Leaving your current job and embarking on something new shouldn’t be a quick decision. One bad week at the office, doesn’t necessarily mean it’s time to throw in the towel. Could a different role in the same company work for you? Could you renegotiate your current role to make it more satisfying for you?
If the answer is no, or you’ve proactively decided now’s the time to do something different or follow your dream, then finance will be one of the first things on your mind. Some people may have redundancy, an inheritance or savings to help them set up, but many will look to ways of borrowing. How you borrow will depend on what you want to do and the level of set-up costs you’ll need.
Help is available
Some careers, such as teaching, offer various schemes for those who have been in work and are looking for a career change. There are often bursaries available for those who are able to teach in high-demand subjects. For current entry to teaching schemes and in-demand subjects, take a look at www.education.gov.uk
If you do need to borrow money – for example, to set up your own business – advice and support is available online at the Money Advice Service. You can also get help on the wider aspects of running your own business, from business planning to sales and marketing, from your local Chamber of Commerce. Find your nearest chamber at www.britishchambers.org.uk