Fresh Threads: Brand name, eBay, business rates

  1. James Martini

    James Martini UKBF Ace Staff Member

    1,003 3
    11 |

    Hi, UKBFers.

    Welcome to Fresh Threads, our weekly roundup of the best comments and advice from the forums. 

    Here are my top picks from this week.

    1. Suggestions for a brand name

    momon121

    We sell a premium unbranded laundry detergent through our shop and on social media.

    I am making plans to advertise more to attract more consumers. Currently it’s only being sold mainly via my shop.

    I am in the process of naming my product. Could you kindly suggest a name for an laundry liquid please?

    Mark T Jones: It’s a rare case where I see that a good brand/name can add real value.For that reason, I strongly recommend you work with a branding specialist.

    Guy Incognito: Choosing a brand name is a very important and tricky thing. I'd like to suggest something for you but I'm struggling at the moment. Lautus is all I can come up with (Latin for spotless).

    ethical PR: Choose a name which best represents your brand and helps sets you apart from your competitors. Look at Innocent, Apple, Nike, Leon, the names in themselves mean nothing - it is the brand behind them that people buy into.

    JEREMY HAWKE: I don't know much about this stuff but I am married with three daughters and I always notice the name Soap and Glory as that stuff is often around here, so a name that nobody forgets.

    2. Building an eBay empire selling small items from China

    Karimbo

    The Mirror reports that a teen has built an eBay business that does £1 million revenue. I am quite surprised by that. I know Chinese sellers who get stuff cheaper and have lower operating costs compete directly with UK sellers.

    Is it even viable nowadays to compete with Chinese sellers in an area where they can ship items straight out of China and still sell it cheaper?

    Mr D: Good lord, yes. Lots of people want stuff quickly. A good seller building a solid reputation can make money. The other UK sellers of stuff are bigger competition than some seller a few thousand miles away sending from their own premises.

    fisicx: I always check the seller’s details and only buy from UK-based suppliers. Spotting a Chinese distribution centre isn’t difficult. Delivery times are usually the first giveaway.

    mattk: It would be interesting to see what profit a £1m eBay business makes, especially with several employees.

    dan1990: He started it seven years ago, according to the article. Not even sure why it's in the news. There's probably bricklayers his age with higher take-home pay.

    3. Moving a UK business to a tax haven

    fattony

    I just wonder how the big boys do it. I’m sure it’s fairly complicated as I presume if you had a business in say the Isle of Wight but operated in the UK then the profit earned on the UK sales would be subject to UK corporation tax.

    So the Isle of Wight business would need to buy the goods and sell them to the UK company so the profit is going back to the Isle of Wight company?

    Has anyone done it and was it successful?

    alan1302: You do realise the Isle of Wight is in the UK and not a tax haven?

    billybob99: You'll need an accountant that will take a few bob and turn a blind eye. Plenty about.

    fattony: Purely hypothetical here, I just wondered how they do it. I thought the Isle of Wight had next to 0% corporation tax?

    mattk: I think you mean the Isle of Man, their corporation tax rate is 0%. 

    4. How can I reduce my business rates?

    Tunster

    I need to reduce my business rates. Does anyone know what size in square metres a shop front showroom would qualify for small business rate relief?

    Paul Norman: Small business rate relief varies (slightly) from council to council. A phone call will give you the exact rules where you are based. Other than that you would have to contest the rateable value. That will spark a review, and the outcome could be better, or worse, than the current situation.

    billmccallum1957: Size is not relevant, it's the rateable value that matters.

    Onthebrightside: Your local council is obliged to help you with this and if you explain your situation, they will tell you of available schemes. Also, I think there may be different rates for parts of that shop that sell to the public and parts of the shop that are just used for storage for staff use such as loos, kitchens etc.

    billmccallum1957: @Onthebrightside Not accurate. Business rates are calculated by the Valuation Office Agency. Local councils can apply relevant relief tariffs, but the rates are the same for everyone (in England).

    That's all for this week and for this year – have a great run into the weekend!

    #0
  2. Furqan721

    Furqan721 UKBF Contributor Free Member

    54 4
    Thank You for sharing this stuff!
     
    Posted: May 16, 2018 By: Furqan721 Member since: Feb 26, 2018
    #2
    Chris The Dropshipper likes this.
  3. billybob99

    billybob99 UKBF Regular Free Member

    1,346 352
    Much love, thank you, thank you.
     
    Posted: Nov 21, 2019 By: billybob99 Member since: Apr 23, 2013
    #11