What do I need to do to start up my own business?

[ThreadWorms]

Hi all.

After lots of encouragement from friends and family and two offers to go into business with other people already in the field, I am seriously considering starting up my own business.

But I don't really know where to start. I've been trying to think of a good name but even this is proving difficult as most of my ideas are already in existence.

I know I need a website but where us the best place to get one or can I create my own? Should I also start up a Facebook business page?

It is a design based business so how can I best protect my designs or us there no way to do this?

How do I go about doing market research? Most forums that host potential clients ban this sort of activity I believe.

Do I need to set up a ltd company or will it be sufficient to trade as a sole trader? Or any other way? What are the tax implications?

Sorry for all the questions but as you can probably tell, I'm clueless having been a sahm for the last few years.

Is there a good book I can read to get me going?

TIA

Hiya, I've sent you a private message with a link to my recent blog which I hope might help you in the 1st instance - you've asked a lot of questions!!

I have all the same questions so will be following closely.........

Thank you ever so much 9thjan . Sorry for all the questions, I really don't have a clue where to start with all this. I've never even considered running my own business until recently so it's not something I've given much thought to before but there is an awful lot to consider . I'm off to have a read now but will probably be back with more questions soon .

Snala, are you also thinking of starting a creative business? Good luck with your business venture .

For all of the boring tax type stuff, have a look at the page I keep up to date on ebay ....
cgi3.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace

websites : there were quite a few threads on the old freelancer board - not sure where Mumsnet have put them.

Speak to Business Link - they gave me hours of free advice and my advisor was fantastic. Don't worry if the name is in existence already - provided it is in a different field and location

Business Link is now part of HMRC : and most of their funding was cut three years ago

Talkinpeace - No, they still have a central national helpline. I have been speaking to someone on 0845 600 9006. I think it was the local centres that were closed. I cannot rate highly enough the advice I was given.

I 'booked' the same advisor each time and she was excellent (Michelle). They covered all aspects from sole tradver V Ltd co, date protection, professional indemnity, market research etc. I think it depends a bit on who you speak to as the other person I spoke to once wasn't as good.

Useful to know : I wonder where the helpline is getting its funding from ?

I am also at the point where I have an idea for a business and don't know what to do next. Finally decided that need to be my own boss after too many years being a teacher and having to jump at every politicians whim.

Thanks for the advice GettingGoing and Talkinpeace.

Any suggestions on how to do market research?

That will advise you on market research too. What is your business idea?

I bought many pandahall beads and made them in bracelets and necklaces. Maybe I can sell them on ebay.