Some start up questions.

(6 Posts)
Karbea Thu 17-Oct-13 11:01:50

Hello,

Ivebeen umming and arring about setting up a small jewellery business, I've found a great supplier whose stuff I love. I accidental created an order with them at the weekend and the stuff arrived today :/ so I've two choices, I either start the business or return the stuff (hope they allow me to do this :/)

Anyway, apart from setting up the company with companies house (£15 I think?) what else do I need to do? Do I need a business account on day one? Or can I just use my personal bank account/credit card?

Can I use my personal PayPal account for people to pay me?

Anything else I should know/read?

Thank you!

zumo Fri 18-Oct-13 07:01:49

First thing is see an accountant, they will tell the tax man for you and possibly save you money.
Then public liability insurance about £100 or if you do markets etc the market traders federation membership includes it for free
www.nmtf.co.uk/index.php?id_cpg=6
Nothing to stop you using your own bank account, banks some times get funny over it though, Lloyds offer free banking for 18 months though

Adair Sat 19-Oct-13 00:20:29

You don't have to register the company. I would suggest starting as a sole trader as there is much less paperwork. Agree a business account will make things easier and keep records from day one!

Talkinpeace Sat 19-Oct-13 16:01:43

You do not need a limited company.
Have a look at the page I wrote for ebayers - much of the information is applicable to your situation
members.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace

Talkinpeace Sat 19-Oct-13 16:02:21

Oh yeah, and I ran my sole trader business through my Smile joint account for ten years!

mmspark Sat 16-Nov-13 06:43:34

Hi, just seen this thread. Have you made a start with your business? I would say first thing is to be clear on who your customers are and how you'll reach them. Happy to chat / share blog posts as appropriate - if you'd like some pointers on a basic marketing plan that will get you started.

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