McFaul 35 Posted January 30, 2012 Share Posted January 30, 2012 It's an option for me this year, and I'm swaying towards doing it. Haven't made me mind up yet, but has anyone started their own company on here? What do I need to know? Would I register myself as a Ltd, and pay me a wage from the business? I'm not going to be Saatchi and Saatchi or fuckin Exxon, I'll have a turnover of between 60 and 100k if I get it off the ground probably, anyone know any good people I can talk to at length about this. Any advice appreciated. Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 Business Link might be a good place to start. You could even be eligible for grants for initial set-up costs. You'll need to come up with a business plan etc. I wrote most of the one for my stepdad's company, and went to the Business Link meetings with them, but that was years ago. The wifey we saw was a bit of a flid tbh, but I'm sure there's good ones. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 Business Link might be a good place to start. You could even be eligible for grants for initial set-up costs. You'll need to come up with a business plan etc. I wrote most of the one for my stepdad's company, and went to the Business Link meetings with them, but that was years ago. The wifey we saw was a bit of a flid tbh, but I'm sure there's good ones. My business plan is to make loads of money. That's it, I don't want to employ anyone or expand. Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 Ok, just tell them that then. Link to comment Share on other sites More sharing options...
Jusoda Kid 1 Posted January 30, 2012 Share Posted January 30, 2012 Almost sure there's grants coming around again. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 Almost sure there's grants coming around again. What makes you think that? I only need 5k to get it off the ground like, I've got it but if the government want to help me I won't say no. Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 You'll have to do a business plan for the grants though. They won't accept the loadsamoney line. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 You'll have to do a business plan for the grants though. They won't accept the loadsamoney line. What did you include in the business plan you wrote? Link to comment Share on other sites More sharing options...
Guest alex Posted January 30, 2012 Share Posted January 30, 2012 Nee idea but good luck anyway, Stevie Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 Nee idea but good luck anyway, Stevie Cheers Even in a shit shit year I'll make 40k that is the worst case scenario, been thinking about it for a few years now, it's just being brave enough to do it. Link to comment Share on other sites More sharing options...
Guest alex Posted January 30, 2012 Share Posted January 30, 2012 Nee idea but good luck anyway, Stevie Cheers Even in a shit shit year I'll make 40k that is the worst case scenario, been thinking about it for a few years now, it's just being brave enough to do it. You're young with no kids etc. Go for it. Link to comment Share on other sites More sharing options...
Andrew 4666 Posted January 30, 2012 Share Posted January 30, 2012 get on business link stevie, loads on there to help new starters http://www.businesslink.gov.uk/bdotg/action/home link to the main site https://online.businesslink.gov.uk/hub/action/render?pageId=mynewbusiness&r.l1=1073858805 that is a link to an online list of tons of stuff for starters, register and use the task list, its exhaustive business plans http://articles.bplans.com/writing-a-business-plan/a-standard-business-plan-outline/29 Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 You want an accountant as well, Stevie. My mam uses a good one - can provide you with their details when you need one. The amount of tax you can save with a decent accountant is crazy. In terms of business plan, it was years ago, so can't remember, but it doesn't need to be long. There'll be templates available online (Business Link will actually tell you whats required in it as a minimum). You'll need to provide some basic financial projections, cash flow etc, amongst other things. It's not that hard at all though. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 get on business link stevie, loads on there to help new starters http://www.businessl...otg/action/home link to the main site https://online.busin...r.l1=1073858805 that is a link to an online list of tons of stuff for starters, register and use the task list, its exhaustive business plans http://articles.bpla...plan-outline/29 Cheers fella. I'll have an hours gander of that tonight. Jaw D owns his own business, does anybody else? CT I suppose does in a way because he'll be paying (or fiddling ) his own tax too. Link to comment Share on other sites More sharing options...
Guest alex Posted January 30, 2012 Share Posted January 30, 2012 Stevie, I'd be happy to proof read any business plan you come up with. Not saying you'd need that but a fresh persepective can sometimes help. Link to comment Share on other sites More sharing options...
Andrew 4666 Posted January 30, 2012 Share Posted January 30, 2012 if you hunt around you'll find examples you can DL as well stevie, if youre lucky there'll be some in whatever sector it is your going into Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 Stevie, I'd be happy to proof read any business plan you come up with. Not saying you'd need that but a fresh persepective can sometimes help. Aye, same here. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 You want an accountant as well, Stevie. My mam uses a good one - can provide you with their details when you need one. The amount of tax you can save with a decent accountant is crazy. In terms of business plan, it was years ago, so can't remember, but it doesn't need to be long. There'll be templates available online (Business Link will actually tell you whats required in it as a minimum). You'll need to provide some basic financial projections, cash flow etc, amongst other things. It's not that hard at all though. Aye I've heard that about accountants like, and they're not all that expensive? 250-300 quid a year? I need to have a word with Shinton about this as well. Link to comment Share on other sites More sharing options...
Brock Manson 0 Posted January 30, 2012 Share Posted January 30, 2012 Mugrighting? Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 Stevie, I'd be happy to proof read any business plan you come up with. Not saying you'd need that but a fresh persepective can sometimes help. Stevie, I'd be happy to proof read any business plan you come up with. Not saying you'd need that but a fresh persepective can sometimes help. Aye, same here. Thanks. Do you think I could put my two season tickets in me tax for Corporate Entertainment by the way? Link to comment Share on other sites More sharing options...
Andrew 4666 Posted January 30, 2012 Share Posted January 30, 2012 a proper accountant will pay for himself (cliche but true) in the amount of tax they avoid for you Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 30, 2012 Author Share Posted January 30, 2012 Mugrighting? Mugrighting Consultancy doesn't sound right Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 You'd need to speak to your accountant about that one. The answer is probably yes, though. Link to comment Share on other sites More sharing options...
Gemmill 42987 Posted January 30, 2012 Share Posted January 30, 2012 This is who my mam uses: http://www.rhk.co.uk/ Based in Gateshead though, which might put you off. She had an accountant previously who cost them a fortune over a number of years through tax inefficiencies. She swapped to this lot, and they couldn't believe how bad the other bloke had been, and sorted everything out. They're not a tiny firm, so might be a bit more expensive than your average one man band, but I know they know what they're doing, so worth checking how much they would cost. Link to comment Share on other sites More sharing options...
ewerk 29594 Posted January 30, 2012 Share Posted January 30, 2012 Do you know of anyone else in your industry who has gone solo? How have they done? Link to comment Share on other sites More sharing options...
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