The benefits of regular income, holidays and sick pay are among the attractions of staying in the 'rat race' while your business gets off the ground.

But carrying on with the nine-to-five is not as straightforward as it might seem.

Howard Hackney from accountants Grant Thornton told icLiverpool:

"Any trading profit, even the smallest amount, is taxable.

"You also have to think about whether to tell your employer about what you're doing. There may also be some legal issues such as a clause in the contract which prevents you having a business while employed by the company."