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Thinking of starting a business ?..A few things to take note of

Discussion in 'Retail Business Advice and start ups' started by beacon hill, Feb 8, 2016.

  1. beacon hill

    beacon hill

    Joined:
    Jun 28, 2010
    Messages:
    1,857
    After seeing a few threads about people thinking of starting an e Bay, drop shipping , small business etc, you
    need to take serious note of the following.
    OK if you are doing a house clearance / personal items..But if you are thinking of starting a new business you
    are self employed.

    As soon as you start buying to sell at a profit you become self employed or sole trader

    You must register with HMRC. https://www.gov.uk/business-legal-structures/sole-trader
    Just saying you are just starting out as a hobby will not impress them

    Get planning permission.
    Call your local council to let them know your plans..Even if you are drop shipping and only using your
    address for correspondence, you will need to ask them if planning permission is needed. Providing your
    home continues to look like a home on the outside, functions as a home on the inside, and that you
    are not keeping stock in a garage or other outside building, you will not need planning permission
    and not need to pay extra rates..When they are happy with this, ask them to put it in writing. Be aware
    they may insist on a home visit to satisfy their curiosity and ask about how many deliveries you may
    be expecting each week.

    Talk to your neighbours. Let them know what your plans are and that you may be getting some larger
    deliveries than normal..Unless you are lucky, there is normally one `Victor Meldrew` in each street.
    I got one that moved in to our close the other year, who immediately started shouting and finger pointing
    in my face..A combination of the written permission from the council (said you may need it) and reporting
    him to the police for harassment got the desired affect and he,s been quite since

    If you are getting tax credits of one kind or another, you need to let them know each year at renewal
    about any extra income..You could be in big trouble if you don`t

    All the above if fairly simple to do..It must be if I can do it..You may be lucky and get through the net.
    But believe me HMRC are looking through e bay and websites looking for anyone that may not be registered.
    I for one got a random call from the local trading standards, who noticed I was a small business, and wanted to
    make sure was all OK and went through my website to ensure all my details / T&Cs etc were correct and legal.

    Feel free to add anything I,ve missed that you need to do when starting out
  2. marketmat

    marketmat

    Joined:
    Nov 19, 2014
    Messages:
    5
    Thanks for this, very helpful
    i have a Victor Meldrew next door, but my business plan shouldnt involve my home so all should be good there.
  3. Jack Marshall

    Jack Marshall

    Joined:
    May 20, 2017
    Messages:
    5
    Well Shared!
    Quiet infomatory and helpful for newbies. I will pin this for the other to take a look at the same.
  4. annagreenang

    annagreenang

    Joined:
    Jul 6, 2018
    Messages:
    18
    Great post, thank you for sharing such a valuable information about starting a new business. One day i'll start my own business and i'll remember your advice.
  5. Alcellte

    Alcellte

    Joined:
    Aug 1, 2018
    Messages:
    6
    Thanks, really good advices here.
  6. Stylesupplier

    Stylesupplier

    Joined:
    Mar 23, 2018
    Messages:
    238
    Nice advice article, thank you!!
  7. annagreenang

    annagreenang

    Joined:
    Jul 6, 2018
    Messages:
    18
    All the informative advice you provide are valuable but the main problem any person face when starting a business is 'Funds' and Now days its not much difficult to obtain a quick business loans from to private lenders like:
    Merchant Advisors
    Funding Circle
    Ondeck
  8. Sarah Hill

    Sarah Hill

    Joined:
    Sep 5, 2018
    Messages:
    2
    This is a good piece of information. Just what I am looking for.
  9. jordanmcclure

    jordanmcclure

    Joined:
    Nov 22, 2018
    Messages:
    14
    Thanks for providing this helpful information, i really appreciate your work.
  10. Jason Davis

    Jason Davis

    Joined:
    Mar 14, 2019
    Messages:
    1
    Anyone who runs their own business in the UK needs to let HMRC know about it. HMRC are then able to track the individual, their earnings and how much tax they should be paying.
  11. Rita Berg

    Rita Berg

    Joined:
    Mar 17, 2019
    Messages:
    10
    Register as a sole trader – this tells HMRC you will be earning some extra money. They will then send you a Self Assessment Tax return to complete at the end of the year where you declare any income and profits. This is a very simple and cheap way to do things but it does mean that you are personally liable for any losses or problems with the business.
  12. truffy

    truffy

    Joined:
    Feb 15, 2019
    Messages:
    9
    Looking to open a land office, this helps thanks
  13. bellafabrice

    bellafabrice

    Joined:
    Apr 19, 2019
    Messages:
    3
    Thank you! Great post :hug:
  14. Tom Jones18

    Tom Jones18

    Joined:
    Apr 30, 2019
    Messages:
    4
    This information is great and shouldn't be overlooked, as setting up legally will provide the best foundation for any business startup. I am currently making content for a blog, I want to answer in depth any business start-up questions you are having trouble with when setting up their business. If you have any suggestions- please fill out my 30secs questionnaire below;):grin:
    ***********************************
  15. Tom Jones18

    Tom Jones18

    Joined:
    Apr 30, 2019
    Messages:
    4
    ***************************************************************************************************************
  16. Tom Jones18

    Tom Jones18

    Joined:
    Apr 30, 2019
    Messages:
    4
  17. Tom Jones18

    Tom Jones18

    Joined:
    Apr 30, 2019
    Messages:
    4
  18. AlbertDavid

    AlbertDavid

    Joined:
    Jun 12, 2019
    Messages:
    7
    Thanks for the advice. Isn't easy to start a business and half the time we forget the things which needs to be done. This'll help. Thanks again.
  19. sally0305

    sally0305

    Joined:
    Jul 11, 2019
    Messages:
    3
    Thanks for those advices!
  20. bluesky111

    bluesky111

    Joined:
    Aug 16, 2019
    Messages:
    10
    Thanks for cool advices. I believe that SWOT analysis can help a lot when starting a business.
    I also very into security when it comes to business. I have a small business with not so many people and now we're starting to make our business secured, first of all we got NordVPN Teams, then configurated backup program and now we're thinking about getting more programs.
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