I have been self employed, well more of a sole trader since 1978. about 12 years ago the wife and myself bought a small Ironing business. Things were going well and we talked about expanding into premises instead of working from home and out saucing the work we could not cope with.
One of our clients was a bank manger with Lloyd's, talking one day he asked how the business was going and I told him of our plans. Straight away he told me, be careful, things are not going to stay like this I can see a slump coming and it is not going to be nice.
That was enough to put doubt in our minds,