Where do i start?

[Dermot]

Hi everybody,

Hope you can give me a little advice on setting up my own business. At the minute I do web design, help people with websites and pocket the cash, I also fix the odd computer and sell some stuff on ebay.

What i want is my own business name, then i can create a website offering my services and have any money i make go into a company account.

I am currently working as a web designer so this business venture is only part-time.

But where do I start? I really dont have a clue. How easy is it to get a business name and bank account? Is it expensive?

Any help is much appreciated.

Cheers,
Dermot

[creative-keyrings]

Hi Dermot,

You can register as a sole trader and make a business name up on the internet for example (www.yourbusiness.co.uk)

Regarding your bank account you can get one from abbey national free of charge, pop into your local branch there very friendly!

Regards,

Callum

[Urban Space]

Alliance and Leicester offer a goodun too.

You need to do your research here Dermot.

Liam

[Dermot]

Thanks for the replies guys.

Im pretty confident with the whole website side of things. I can program design and register a site no probs. Its just I dont want to register a site under my own name as I think it's less professional. And also a lot of companies will only get quotes from a registered business.

So its as simple as this:

Think of a business name, and register as a sole trader?

What happens when I register do I get sent some kind of notification?

Once I get this notification do I just go to the bank and they will open an account for me?

Do I need to register an address with the business? Il be running it from my home and would be a bit weary about putting my home address on any webpage.

[Urban Space]

Then you need an office.

Liam

[DuaneJackson]

Or a PO Box, or a redirected mailing address. There are lots of options. Don't just get an office becuase you don't want to use your home address.

It sounds like Sole Trader is the way to go. There is no point going to the hassle of setting up a limited company if you have no firm plan for whatthe business will do or what income you will generate.

You don't need to register as a Sole Trader just yet - you have 3 months as from when you start trading.

All you need to do is walk in to a bank (as stated abive, Abbey are free and friendly) and tell them you want to open a business account. Let them know what you will be trading as (ie: XYZ Design) and you're away.

Now all you need to do is get some sales in : )

[Dermot]

Ok so i think this is what im going to do:

1) First of all think of my business name, lets say "DermotsBuis".

2) Check if "DermotsBuis" is available as a name.

3) Get a PO BOX address

4) Register as a Sole trader, register "DermotsBuis" using the PO BOX as my address.

5) Go to my bank, set up a business account, wait for my cheque book and credit card.

6) Register the domain "www.dermotsbuis.com", owner being "DermotsBuis" and address being the PO Box. (This is the bit I really do want, dont want my own name or address on the WHOIS list, nothing dodgy, just dont want my personal details out there.) Pay using my new credit card.

7) Start building websites, let the money roll in!!

8) Pay the taxman at the end of year.


Is this the general gest of it?

[DuaneJackson]

You don't need to register as a Sole Trader just yet - you have 3 months as from when you start trading.

[Jayne]

And find an accountant, they'll help you with all of the above :D

Business link are good for info.

Jayne :D

[bwglaw]

In any event, I do not think the IR will accept a P.O.Box address and all documents from them will go to your home address.

Even though you have a PO Box address - it is not difficult to find out the actual address behind it.

P.O.Boxes do give a negative image of a business. I had one and now have more work since we moved to an office. I suggest you contact a 'Business Centre' and ask about address accomodation

[Dermot]

DuaneJackson wrote:

You don't need to register as a Sole Trader just yet - you have 3 months as from when you start trading.



dont i need to resister as a sole trader before i open a bank account though?

I cant get the dosh rolling in til i get the web site up, which i intend to register using "Dermotsbuis"

[Jayne]

Hi,

You don't need to register straight away, you can trade for up to 3 months before you have to do that. You can open a bank account tomorrow and start trading if you want to.

Jayne :D

[openmind]

Hi,

You don't need to register straight away, you can trade for up to 3 months before you have to do that. You can open a bank account tomorrow and start trading if you want to.

Jayne :D

Although that is very true, don't leave it until the last minute as so many do or you will find a £100 penalty winging it's way through your letter box ;)