Am i missing anything

[rp84]

Hi all

Hopefully to launch my advertising business soon, Just checking if i am missing anything

Business Account opened
Self employed is set up
Business Cards - done

Website almost completed
Virtual Terminal on iPad - almost completed.
Ordering forms almost completed
Mandate form for monthly payments almost completed

T-shirts - Still looking to sort that out
Internet wifi dongle for iPad - Last thing i will do.

Anything else i have missed of the list ?

Thanks

 

[Funny Business Cartoons]

Fridge magnets?

 

[smbchamp]

What kind of advertising business? online or offline? Do you require additional staff? What about TAX preparations? How do you plan to operate your business? (From home???)

 

[rp84]

Fridge magnets?

Funny enough thats something i have thought of for the future to hand out as freebies with the web address

 

[rp84]

What kind of advertising business? online or offline? Do you require additional staff? What about TAX preparations? How do you plan to operate your business? (From home???)

hi Thanks for the reply.

It will be advertising restaurants, takeaways etc in Leicester. All online at the moment.

At the moment the business will be ran from home office.

TAX Preparations - do i have to do anything at the moment ? or can you give me more infomation on that.

Thanks

 

[Funny Business Cartoons]

If you are just starting out now I don't think you have to worry about that unless you think you will be making about 5000 pounds a Month before the end of the next Tax Year which is in April 2011 which is not too likely as in my case. One thing you did leave off your list was to register with HM Revenue & Customs. You can do that online. I'm in a very similar position to you atm and just started claiming Working Tax Benefits and this is all a big learning curve for me as well.

 

[sysops]

Internet wifi dongle for iPad - Last thing i will do.

No such thing.

 

[rp84]

No such thing.

Sorry shouldnt have said dongle, meant MIFI from three

 

[MyAccountantOnline]

Decide on how you will be trading ie self employed/soletrader or limited company.

If self employed register with HM Revenue & Customs - have a read here its quite good -
http://www.hmrc.gov.uk/businesses/tmastarting-up-in-business.shtml

Consider possible VAT registration.

Sort out a system for bookkeeping - perhaps looking at software to assist.

And...sorry but I have to mention this one - get a good accountant Good ones can save you a lot of hassle and often tax and getting one when you set up is wise.

 

[rp84]

If you are just starting out now I don't think you have to worry about that unless you think you will be making about 5000 pounds a Month before the end of the next Tax Year which is in April 2011 which is not too likely as in my case. One thing you did leave off your list was to register with HM Revenue & Customs. You can do that online. I'm in a very similar position to you atm and just started claiming Working Tax Benefits and this is all a big learning curve for me as well.

Hi
I have registered with HM Revenue and Customs (Self employed)

It is a big learning curve, and quite worrying.

I just hope to turn my business into a brand

 

[MyAccountantOnline]

Another one - insurances.

Possibly professional indemnity insurance, public liability etc.

 

[Funny Business Cartoons]

It is a big learning curve, and quite worrying.

Yes, it's bloody scary but hey, that's what keeps us alive.

 

[Simply Business]

Hi rp84,

Just to expand on a previous comment but you might need to consider professional indemnity (PI) insurance - it covers you for any errors, omissions or neglect in regards to any advice, designs or plans that you put forward that lead to a financial loss to your client. It could be quite useful if you're recommending campaigns, plans or advising them on specific details. It also covers for the cost of replacing clients lost data. So if you take some clients data home to work on a project and then the data is damaged or stolen PI can be used to pay for the associated costs. If you have any queries regarding the insurance aspect let me know because I work for a business insurer. Kind Regards. Tim