Serious thread... new business - Posted on 2007-05-30 10:20:57
bubblesloves69 1300cc Superstar
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I've been thinking for some time about setting up my own business and have decided to take the plunge!!
Need a bit of advice about registering the company name and domain (.com and .co.uk) but don't know where to start!
Have the business plan underway including projected turnover/revenue and set up costs.
Will need a bit of help with the designing of the website too once I've registered the domain, so any "free" help would be appreciated.... when I say free I can stretch to a few beers/vodkas :o)
Thanks in advance xx
Serious thread... new business - Posted on 2007-05-30 10:51:38
Mark 1300cc Superstar
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Running your own business is very stressful and dangerous (financially) but can be very rewarding if done right.
Have a look at my business site Bubs. Link at bottom of everypage where it says "Hosted by".
Serious thread... new business - Posted on 2007-05-30 11:02:42
bubblesloves69 1300cc Superstar
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Thanks Mark, I'll have a proper read of it this evening at the moment there seems to be lots of words that don't really mean alot to me.... sooo much to do and not enough time lol
Alot of my friends run their own businesses so have already warned me of the cons of setting up alone but I also have some great support from these people too. One of these guys is one of the directors for a local chamber of commerce network and does alot of work for business link too..... he's a god send!
:oD
Serious thread... new business - Posted on 2007-05-30 11:50:10
gfisher 1300cc Superstar
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its a big step bubbs but as Mark says well worth it if it goes right.
the main piece of advice I'd give is make sure your credit control is tight
Serious thread... new business - Posted on 2007-05-30 11:51:18
darcey 1300cc Superstar
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What business will you be setting up in Bubbs?
Serious thread... new business - Posted on 2007-05-30 12:08:05
Mark 1300cc Superstar
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One other thing, always a limited company, never a sole trader or partnership.
Serious thread... new business - Posted on 2007-05-30 12:07:48
bubblesloves69 1300cc Superstar
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I have a good rein on credit control and strong legal back-up fish but i know this will be one of the hardest things to manage.
It will initially be in recruitment darc (what I've done for the last 6 years), already have a full client base to start trading immediately. Beyond that change management/continuous improvements once I have completed my training. Again all of my clients will use me for this too :o)
Serious thread... new business - Posted on 2007-05-30 12:11:18
bubblesloves69 1300cc Superstar
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I looked into sole trader but can only operate the business as ltd, otherwise none of my clients would be able to work with me.
Serious thread... new business - Posted on 2007-05-30 12:52:29
darcey 1300cc Superstar
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Well you ve always come across as a very competent person on here and I know that recruitment can be big dosh... why make money for others if you can do it for yourself. Companies House has a start up guide you may find useful: http://www.duport.co.uk/index.htm. Hope this helps Bubbles.
Serious thread... new business - Posted on 2007-05-30 12:56:27
kenp1947 1300cc Superstar
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Like Mark and Roeby have worked for myself for several years just some help I hope BUBs get yourself a good accountant unless you will be filing tax returns yourself but whatever you do ensure you do as much as possible before it goes to accountant as it saves you mney If you are working from home you can claim a portion of the running costs of your house usally base on size of house divided by number of rooms as one is used for business by not rates. You can also claim all your business mileage from home to clients and remember that includes trips to bank and for purchasing business equiptment. I use a spreadsheet I designed for my accounts but to start with something like Quicken Books will also do Keep every single receipt and number them plus keep a list of places visited plus mileage referenced to invoice no if you using your own personal car/bike. If you buy clothing for business and have a small logo on it you can claim that against the business but dont think that includes underwear LOL If you want any other helps or tips just ask Oh you might also want to contact your local business link as you get lorts of free advice and help for start up business Good Luck
Serious thread... new business - Posted on 2007-05-30 13:09:51
bubblesloves69 1300cc Superstar
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Thanks for your supports guys.
Darcey, one of the reasons I have decided to do this is for the money. Each fee I earn for my employer is at least £3000 and at the most £15000, I only get 10-15% of that, even if I only turnover £3k per month (I usually generate £7-10k by myself) I'll be no worst off than I am now and if I can turnover just £7k a month I'll be completely debt free within a year and be able to live very very comfortablly!
Thanks for the advise re: accountants ken, I have been recommended to speak to a few locally but agree that's very important to choose the right one i.e. somebody who can save me more money legally.
Given myself a window on 4 months until I go live, this gives me time to create and populate my database (which the most time consuming task), get some back up funds for the first few months, start marketing the business, arrange supplier agreements, etc, etc.
Serious thread... new business - Posted on 2007-05-30 15:18:28
Martin 1300cc Superstar
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I start by saying i dont know anything regarding any of this ... however just a thought as a complete novice ...
You say you have all the clients you need to start this ...
Is there any way your current employers could get there own back on you for effectively taking there business from them?
Its just an obvious (to me that is) causious thought ...
Lets face it if you were in your current employers position and one of there workers walked off with your business i'd bet youd be a tad annoyed to say the least ...
Like i said just a thought and i'd hope it is of no consequence
tc yeah and good luck :o)
Serious thread... new business - Posted on 2007-05-30 16:07:48
bubblesloves69 1300cc Superstar
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ty Martin, already thought of that looked into it.
I signed a covenant when i joined saying that I wouldn't do direct business with any of them for 3 months after leaving the company, so I haven't. My team have but I have not had direct contact with any of them.
Checked out the legal side too, if they decided to take me to court over this it would get thrown out on the basis that they cannot stop me from earning a living i.e. I could start court proceedings for loss of earnings which would triple the amount they are claiming against me.
Also, I recruit for a niche sector and it is something they know nothing about and have no interest in, therefore it is not there "core" business and they could not prosecute.
Serious thread... new business - Posted on 2007-05-30 16:20:36
Martin 1300cc Superstar
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'niche' one !!!
Soz i couldn't restsit that one!
Serious thread... new business - Posted on 2007-05-30 16:29:10
kenp1947 1300cc Superstar
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Just remember hun Tax Avoidance is Legal Tax Evasion isnt LOL
Serious thread... new business - Posted on 2007-05-30 18:11:30
bazzoka 750cc Boy Racer
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Good luck with this, i know how serious you are about this, and really think you got what it takes to get it done. and todo well.
keep your goal in mind. But really,
and you should know i mean this A, good luck.
B
Serious thread... new business - Posted on 2007-05-30 10:20:57
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Serious thread... new business - Posted on 2007-05-30 15:18:28
Serious thread... new business - Posted on 2007-05-30 16:20:36
Serious thread... new business - Posted on 2007-05-30 16:29:10
