How do I get things off the ground.. ADVICE needed

[Levi1989]

Hi people, just signed up today as alot of you on here seem to know your stuff and seems like a really friendly community willing to help each other out.

Just abit about myself I have been unemployed for a few months now and I am sick of scraping by and applying for dead end jobs, which is why I want to start my own business up and I really motivated and have my ideas.


I want to start up working for myself in a small business like a sole trader as I would not look to employ anybody for at least 12 - 24 months.

I dont need a place of work as I will be carrying out any work at peoples homes/businesses not on my own property.

All I need is to get registered, sort out advertising and a website and I'm sorted.

Now does anybody have any advice on what steps I need to take, any how much it costs? I have researched for days but it all seems a little confusing, and hard to break down.

Thank you for any replies.

 

[vvaannmmaann]

Do you have any skills you can use or perhaps a hobby you could develop into a business?

 

[Levi1989]

I already have an ideal on what I am going to do, it will involve painting services from anything from your painting and decorating to vehicle services as I have a lot of experience in forklift and car restoration (body work) etc. Also a plus for me is my Father runs his own business and has promised he will by pushing through the odd cheque for me untill I am completely off and running to keep the business ticking over. It involves more services than that, but that is the main part.

My problem at the moment is I have an idea of what I want to do its just how do I take the first steps into setting all this up. (Sorry if I didnt really make this clear enough in my original post)

 

[vvaannmmaann]

Maybe this will give you a start?
http://www.syob.co.uk/

 

[Levi1989]

Cheers, haven't come across this site before I'll give it a read through.

 

[Levi1989]

That was helpful thanks but I am looking to speak to somebody who has started something from scratch themselves like who did they contact, what did they have to do to HMRC and how much is roughly cost to register the business?

 

[Mason567]

You would need to allocate some of your start up fund to liability insurance if you havn't considered it already, this will be a must as you have said you will be working on other peoples property/businesses before trading but shouldn't cost a lot for the year.

 

[Scalloway]

Registering a self employed costs nothing. See HMRC page here

http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm

Business Link has a lot of useful information about starting up a business

http://www.businesslink.gov.uk/bdotg/action/layer?r.s=tl&topicId=1073858805

 

[BustersDogs]

I rang the job centre when I started! Asking if they gave any help. They put me onto a local enterprise agency, who put me onto business link. Which the conservatives made completely pointless by cancelling all the courses they ran. Then the enterprise agency was shut down due to lack of funding. Who voted for these clowns?

 

[Scalloway]

Business Link just seems to exist as a website nowadays. I am pleased they kept the website as it has a vast quantity of useful information.

 

[BustersDogs]

You're right, I still use the website, but miss the courses! I went on a few then got too busy with work. By the time I'd trained up staff and was ready to learn about running a business they'd folded.

 

[Levi1989]

Thanks for all the responses.

Right so I have my business name in my head, ive sorted out what materials I need etc, Ive got some logo designs sorted but what is my next step

Do I just go to the HMRC website and register my business name and then it is a legal business? Do I register as self employed first and then register the business?

I am very "nooby" when it comes to the set up even though I have the rest worked out. How long does registration take?

Sorry to ask so many questions :redface:

 

[BustersDogs]

As a sole trader you *are* the business, so registering as self-employed is all you need to do. Then get cracking making your first million!

 

[Levi1989]

So pretty much register myself on HMRC and I'm legal to start ? does registering myself as a sole trader include registering my business name?

 

[Scalloway]

You do not need to regiater your business name separately. You should open a bank account in the name of the business, paricularly if you expect to receive payment by cheque.

 

[Levi1989]

Oh ok so when I register myself as self employed thats all included? Ie business name etc?
Yeah I will open up an account in the name as soon as I'm registered with HMRC.

 

[Scalloway]

There is no compulsory registration of business names in the UK.

 

[Levi1989]

Oh ok. So I could trade under my own name? I think I would rather use a business name than my own though, this shouldn't be any trouble should it?

Thank you for the replies, much appreciated.

 

[Scalloway]

Yes you can use your own name. In picking a business name be careful about the name you choose. There is some advice here

http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073859929

 

[Levi1989]

Thank you. Well now the hard bit, actually deciding on a name! Very exciting though to think I could be up and running very quickly.

 

[businessfunding]

You say you have been unemployed for a few months - have you been claiming JobSeekers? If so you might well qualify to join the NEA scheme, which will give you free access to a business mentor who should be able to address these questions and provide with hands-on help putting your business plan together.

Ask your Job Centre for details.

 

[Chris S]

When deciding on a name for your business, and if you are thinking about a website for the business too, something that may come into your thinking might be availability of appropriate domain names. It might be a good idea to check. Not the primary concern possibly but something to think about nonetheless.

 

[fantanz]

That was helpful thanks but I am looking to speak to somebody who has started something from scratch themselves like who did they contact, what did they have to do to HMRC and how much is roughly cost to register the business?[/QUOTE

just register as sole trader for now and file your self assessment when needed. If you have an idea and the passion just do it.

 

[Levi1989]

You say you have been unemployed for a few months - have you been claiming JobSeekers? If so you might well qualify to join the NEA scheme, which will give you free access to a business mentor who should be able to address these questions and provide with hands-on help putting your business plan together.

Ask your Job Centre for details.

I was for a couple months but I stopped as I was able to get some cash in hand work, cheers for the idea though but I think now I am in a positin where I'm pretty much ready to go

When deciding on a name for your business, and if you are thinking about a website for the business too, something that may come into your thinking might be availability of appropriate domain names. It might be a good idea to check. Not the primary concern possibly but something to think about nonetheless.

Yeah thanks for that thought, I had already thought about making sure the website name would be available before I registered anyway as the website will be a massive part of the advertisement so will be vital.



Yeah I will be registering very soon, just tring to come out with ideas of names at the moment, then testing how they look on some logo templates etc.

Cheers again everyone, great forum this is

 

[Levi1989]

When registering as a sole trade/self employed on HMRC site it just asks to register for business taxes ( Class 2 National insurance)I am going through this process but it has asked a date of when I have started trading of which I have not yet. am I best just to start trading then register this?

 

[Scalloway]

You only need to register as self employed when you actually start trading.

 

[Levi1989]

You only need to register as self employed when you actually start trading.

Ah ok makes sense then.

So next step is a business account then I suppose before I start, will be easier than using my own current account.

 

[Levi1989]

As I am looking to offer a range of services not just specialise in one area, for example

Signs, banners, digital prints etc to painting & forklift restoration

I am going to use my initials as a name but am unsure what word to use after that. Signmaker i dont want to single myself out but services comes up as a sensitive word? Anybody know why that is?