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Some start up questions.

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


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
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

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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