RE; SOCIAL ENTERPRISE BUSINESS

Its up to you to set your own salary at a fair rate for the work carried out. There is nothing set in stone about what is/isn’t reasonable. People working in this area often independently wealthy either through a spouse, pension or other means, and are not looking for personal financial reward. The issue of salaries is certainly something I look at very closely when being asked to take on charitable accounts (I tend to do them at discounted rates) I have been approached by a few "charities" who seem to exist solely for the benefit of their owners and give a pittance in benefit to their chosen causes. Others are very genuine and take only their personal expenses out and genuinely do provide a social benefit, retuning a high % of income to the causes indicated.
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773

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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT

Hi Can you give us some more information? What type of thing will you be doing? I worked for a charity for a year or so and all of us were paid from grant funding. We all got reasonably good salaries for the work we were doing. We had to put together business cases to various funding bodies to get funding and within each application was the cost of salaries, admin support and all the other usual stuff. The director had (what I would call) a very average salary which was accepting by the funding body. It really is a case of you putting a price on what you feel you are worth and will achieve for the money and seeing if this is acceptable. If it isn't you'll be told very quickly! Our funding was only for two years and the charity is now in the process of looking elsewhere to secure more funding. I'm more than happy to try and help, but it would be useful to know exactly what you are going to. Incidentally, I think the best way of getting information about this type of thing is to approach other organisations operating in a similar way to the way you want to set up. I've never come across any specific articles and business link, etc. are geared up for profit-making businesses. Let me know if you'd like any more info. and good luck!

THANKS 4 THE INPUT well i'm looking at a recycling venture. through my science background/ research i have found a way to recycle waste that is both profitable and easy to do. i am in the process of writing a business plan (without much sucess may i add. although the business is to better my community i still have to know that i will be able to provide for my family pay off my mortgage etc

ME AGAIN.... I have been told that i can apply for grants to help buy prmises equipment and rent costs for x years. fom your post i see you were able to get a salary through this too!! IS THAT THE CASE AND IF SO MAY I ASK HOW YOU WENT ABOUT IT. if that is true i wont need a 2nd job to tie me over in the short term and i can fully focus on setting up my business.

I would imagine that the charity bunny worked for received an annual pot of money (or, perhaps, funding for, say, three years) from a large, external organisation, and from this, smaller pots of money were created to cover staffing, marketing, rent, etc, over the given period. This sounds a little different from what you are proposing?

maybe bunny can tell me a little more about her venture......, my venture plans on using a local disabled support organisation and im gonna base myself in a deprived area. the trouble with social enterprises is that they are a new concept and theres not that many out there.

Then you might be able to get something from the National Lottery.

VERY LIMITED FUNDS FROM THE NATIONAL LOTTERY if i can do i will ask that year 1 salary for all employees be given. Bearing in mind i have no idea of how much money will be made at the end of the 1st year i'll set a salary for myself. Has anyone any idea how much a director earns these days!!!

It's more a case of how much do you think you should get paid!

Bearing in mind the potential turnover / profit margins i'd say 50k - 80k (i found that the average salary of a director is just under 90 k in the uk ). But if i apply for salaries within my grant application i'm worried i'll have to sell myself short!!

Good luck!

Please go to: www.dystonia-support4u.co.uk Then click on the logo for UNLtd They'll help you!
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chris
www.oxford-conferences.com

Not fully sure what you are doing but if it is going in a BPlan, I think they would want to see a break down of your personal living expenses and pay you that. You may not be able to afford the holiday this year or the new car but thats what starting up is all about. If you look for funding and expect to take anything above basic living out of the business they may well laugh at you while putting the chequebooks away. ----- The ultimate bus1ness forum for beginners, improvers and serial entrepreneurs is coming soon. With up to the minute relevant posts on all aspects of your bus1ness from resident experts. Intelligent programming ensures the board is relevant for you and up to date with spam and bad posts minimised. URL to be publicised soon.
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www.youcangetit.co.uk - Business services and community. Do you get it?

If you contact the NCVO (National Council for Voluntary Organisations)they should be able to provide you with further information on starting up your charity - or at least point you in the right direction. For England and Wales the website is http://www.ncvo-vol.org.uk/asp/search/ncvo/main.aspx?siteID=1 and for Scotland it is http://www.scvo.org.uk/ In terms of how much you pay yourself - James is correct in that there is no set limit and is really a matter for your concience! Stephen
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Stephen
http://www.urbandesignclothing.co.uk