Thinking of starting my own small business, I know absolutely nothing, please help me.

[MegaLegs]

With DS4 about to start preschool and the realiasation that I don't want to go back to teaching I wanted to try something new.

I am quite handy with my sewing machine and have some projects in mind that would also fit in with my DH's work (he's a tree man).

I have a large work room and if successful DH will build me a large shed.

Where do I start with the financial side? There is little inital outlay, I will need an industrial sewing machine and a source of the fabric I'll be using.

What do I need to know about bookeeping, tax etc..?

I intend to art small, test the water at local events first.

It's all a bit pie in the sky at the moment but I would be grateful for any form of advice.

start small, not art small.

Go to Loads and loads of advice and free courses you can attend on there from marketing and web design to book-keeping and how to finance your business.

There will be a company on there called Also go to your local business link or enterprise agency. You can google business link and it will come up.

The enterprising women network is very good. I think it covers Essex, Suffolk, Norfolk, Herts and Bedfordshire so I'm not sure if you will be eligible to attend the courses if you don't live in these areas. However, there is loads of free advice on there about starting up a business etc. I use the site all the time and have been on some of the courses.

Hope this helps.

Well, I haven't done anything like this but, two ladies on a couple of my sewing groups sew for a living. These are their sites here and www.gabrielles-sewing-studio.co.uk/.
Kate has answered questions such as yours on the google newsgroup alt.sewing and Gabrielle contributes to Yahoo's UK sewing.

www.enterprising-women.org

Book keeping is very simple, for our business we use a spreadheet with columns. For us as B&B we have one for electricity, etc, consumables (loo roll etc) food for B&B, repairs, sundries and private. That is our expenditure and do another one for income, at end of monthe reconcile spreadsheet with bank statement, just to check that everyhting is down and also do Toal income vs total expenditure and opening and closing bank balance. we hand the years paperowkr over to an accountant who then does our tax bill, will usually do have electricity etc for B&B. She costs £200 for work done a year so well worth it. Hope this helps.

You get up to 12 weeks grace so to speak from the tax man if you're just testing it to see if it'll all work out for you (i.e you're not making any money from it) but then you need to register properly.

Try www.everywoman.co.uk.
I left my job and started my own business last year. Best thing I have done but all situations different.
Also depends where you live as I have had lots of regional support in London. I financed most of the first year by radically cutting back at home (changed car,hardly any social life,reduced shopping,no hols,etc), that as well as having no salary has not been easy. I also received a start up grant from my local council but again this depends on the area you live and what the nature of your business is.I am now expanding and have for the first time since I started turned to the expensive option of my bank as I now have no option but to do that due to the amount of money needed.
Despite how hard and scary it has been, worth it so far, I now have 5 staff and got quite a lucrative opportunity to expand.
Hope you find this helpful. New to site as well,so a bit nervous about giving advice!

Wow - thank you all. I will check out those links. Thanks again everyone for being so helpful - am feeling quite inspired.

hi there Megalegs, I set up a soft furnishings business last year working around kids school days and I love it. I have always sewed but I did lots of courses inc a C&G qualification which I found really helped my skills but the business side of it has been easier for me as that was what I did when I WOTH.

I spent a bit of time before I ditched my old job sorting out a business plan and I would really recommend doing this before you invest and/or resign. You can get help from some of the organisations listed on the thread, but basically you need to have realistic idea of revenues - price point, volumes etc - and a pessimistic view of costs. I assumed I would work a 4 day week to allow for inevitable slack for example. Then at some point hire and accountant - they will tell you what costs you can claim (more than I realised)

I don't think my email is up to date on here so I can't say CAT me but if you have any other questions post on here and I'll do my best! Good luck

how exciting Megalegs

hey, good luck ML.

the tax office can be more helpful than you'd think, but if your spreadsheet of expenses and sales becomes too long then an accountant can pay for her/himself many times over at the end of the year (but you don't need one for the initial registration - that's easy).

also make sure you test several markets. It might be that local events aren't the place for you to sell, but, say, an online crafts thingy might be. what I mean is, don't expect success quickly, and don't give up too soon.

Thanks sinclair, I definately need to hone my skills a bit before I start. I am trying to find some good local courses but it's proving tricky, will keep searching though.

MABS - Exciting but scarey - DH has big plans and I'm just kind of humouring him at the moment

Senora - thanks for your advice - DH thinks we can attract passing trade too with a display of my (so far non existent work) outside the house.

We have a brilliant accountant who has kept DH inline for years and she is willing to take me on if/when I need her.