Starting up a candy buffet business...help!

[teamtwilight]

I plan to do this with hardlly any set up costs and as a bit of a hobby to start but with the hope that it would grow.

Should I go sole trader or Ltd? I could quite easily manage the bookkeeping for a sole trader would lose confidence with tax etc if I was Ltd. But I am worried about losing my house etc if things went wrong?

What insurance would I need and what would it be classed as? I don't make the sweets, just store them and set up at the venue? I can't find anything that comes close to what I want to do...is it catering? Would I need the premises to be inspected etc?

Lastly, does anyone know of a grant that could help? I only need a small amount to help with leaflets and containers to put the sweets in.

If you set up a Ltd company then that company will own any debts, rather than you. If you have any future cash flow issues then at least you won't lose your house.

Sorry, can't help with the insurance question as I don't need it in my business. However, I'd be wary of obtaining grants. If you can't afford to get it up and running, wait until your cash flow permits it. It'll be so easy to get the business into debt if you can't fund the day-to-day.

Good luck!

It is now virtually impossible to fulfil the reporting requirements for a (trading) Ltd company without professional help which is going to cost you upwards of £600 a year.

As a start-up company noone will give you credit anyway, so the only way you could incur a catastrophic financial loss is if you are sued. So if you are going to go sole trader, make sure that you don't sign any agreements without legal (or at least rock-solid commercial) advice and make sure that you have insurance to cover what you do - have a look at somebody like this for instance.

This thread is 10 years old, I do t think the OP needs your advertising now.

@ChessieFL

This thread is 10 years old, I do t think the OP needs your advertising now.

I did wonder why she didn't think anyone else did this sort of thing!! I wonder how it went?