I took business studies, hated it and failed at GCSE level.
I have a quick question.
If you made something out of the love for it or did something with a skill and a couple of friends wanted to be part of it, at what point does something go from a hobby to a business?
Is it when you don't just charge your friends for the items they use but you charge more on top and make a profit?
Is it when you make X amount?
If you had 5 people and made a profit, but it was a one off and never did it again - is that a business?
If your 2 friends came to you twice a year and you made a small profit (say, £100) is that a business?
As you can tell, I'm frigging clueless, and I was just pondering these facts.