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about to do it. how to do it!!(2 Posts)
was written for ebayers - but is a pretty clear guide to the business of running a business.
Ltd Co is not really worth it unless you expect to make over £40 k in the first year.
Your insurances are the most important thing at this stage.
So I have just got my qualification and cam finally set up my own business, my dream. Without being too specific I am qualified as a therapist, will charge approx £50 a session (around an hour) and this inc travel to patients. However will charge fuel fees if out of radius and discounts for groups etc.
I expect it will take a few years to establish some regular clients and a lot longer to get full time work but as I have small children this will work well. By the time they are at school I hope to be reasonably well established for part time hours at least.
Do I set up sole trader or ltd company? Associates in the same trade have done both - a friend said she went Ltd company as if sued her personal assests are safe. This is a reasonable concern of mine. I admit I don't know much about this side of things but do have family members with lots of experience of running (very different) businesses.
Had anyone any advice? I don't want to complicate matters when I don't need to by going ltd if it's not necessary.
Any advice welcomed!