Paul S
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i assume you have decided what you want to do and sorted out finances you need for equipment, stock (if needed) etc..
the main thing you need to do is register as self employed with the Inland Revenue. You can do this by completing a form CWF1
which you can print off from www.hmrc.gov.uk. You will also need to complete the Direct Debit form in order to pay class 2 National Insurance which is just over £2 a week.
This bit is important....Make sure you register as self employed within 3 months of the end of the month that you start trading otherwise you will incur a £100 penalty fine.
also make sure you have a way of recording your income and expenditure. you can buy bookkeeping books in WH smiths, look for names such as cathedral or simplex D if you wish to do this manually. Or you can go computerised with quckbooks or Sage line 50 which will probably cost you £100 to £200 unless you know a mate with a copy.
I would also advise to employ an accountant to prepare your accounts on an annual basis and also complete your tax return which is due on the 31st of Jan each year. they will also ensure that you claim all the relevant expenses and allowances that you are entitled to in order to reduce you tax bill. I depending on your accounting books and level of trade I would expect this would cost around £400 per year.
thats the main bulk of things to do in order to start ya own business, the only other thing to do is make money!!
good luck. |
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sk
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We are from SM Marketing services.
we give solution for import, export, design ,development & liason with Indian customer.(service charge very reasonable)
mail sushilgupta1963@indiatimes.com |
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bornlivelife
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Forever Living Products are a home business looking for more people. Their recruitment site is www.efi-international.com. They will do everything for u and u can start immediately with no investment
They are a $2 billion company backed by Dti and Office of fair trading and you can work at home doing it. Typically people get £1200 per month after 5 months with no investment required
I highly recommend them |
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Aleksandar T
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www.aleksandar.ws |
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wizz1888
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It depends on the business you wish to start. You should contact local business agencies to local at government grants but first local at what product/service you plan on selling and them look at oyur target market. You should prepare a business plan which you could show to investors and your bank. Just remember to be realistic and not big headed. There is no chance you will take a million pounds in six months is there? Your business plan should cover everything from the product to the location and target audience. |
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TM Expressâ„¢
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The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:
* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures! |
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damari_8
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Make a plan of the idea, what are you going to sell? are you going to provide a service? do you need licenses? Can you do it from home? How much money have you got to invest? Is there a need for your business? Have you looked at the market for your product/ service?
A list is the first thing you should do, answer all the questions above and work through them one by one. Good luck |
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cedley1969
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Whatever it is you are thinking of doing, do it, then look for solutions to the problems you encounter. Dont think you can plan it all in advance or you will take a tumble. |
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Flippy
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ask someone who cares |
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segunbajela
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Write up a business plan.
Know the market you ae getting into very well
Learn about the legal framwork you have to work within
Get an accountant and sort out the issue of relevant taxes you need to pay or be excused from
Look out for finacial advise on funding if you do not have the required funds and get management training |
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Exlr8.ws
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What type of business. What products or services do you plan to offer. We can only help with more details. Anyways try SBA.gov or try an online business like the site below and watch a 7min flash presentation. This should be well worth your time. |
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