Start and Run Your Own Business
Posted in Starting Out on Aug 28th, 2008
Last week I focussed attention on self-employment and pointed out a number of ways of becoming self-employed.
This week I shall highlight the different methods of setting up a business that can be grown into a separate and valuable entity.
Just like self-employment, this can be done on a part time or full time basis. Obviously you [...]
Posted in Starting Out on Aug 28th, 2008
Before you start a business you need to get your personal and financial life in order. You won’t have time after you go into business as it will initially take all your attention to get the business underway.
Last week I left you to do a little planning……
First figuring out what kind of life you want
Second working out [...]
Posted in Support on Aug 25th, 2008
Do you want a place to ask questions or discuss business topics? If so, we will develop a Be Your Own Boss Business Forum here.
I want to guage the level of potential interest before setting up a forum. Too many forums online “wither on the vine” through lack of participation.
If you think this is a [...]
Posted in Starting Out on Aug 21st, 2008
Last month I gave you six rules to consider before starting any kind of business or self-employment.
This month I shall highlight the different methods of going solo.
First consider whether this will be a full time or a part time venture. If you already have a job, I recommend you look for part time business opportunities initially.
This will [...]
Posted in Starting Out on Aug 21st, 2008
Stressed, burned-out, overworked, life out of control always under pressure, in debt, no quality time…..
This all too often describes the life of today’s citizen. Whether “successful” or not, whether in a high flying job or out of work, too many people are dissatisfied with their lot in life.
The ultmate goal of many is to break [...]
Posted in Marketing on Aug 21st, 2008
Do you have a list of enquirers who never bought from you?
Sure you do, and so do your competitors!
If you don’t have what they want, maybe your competitor does. So why not swap lists? Or better still, recommend your competitor’s product to your list, and get your competitor to market your product to his list. [...]
Posted in Planning on Aug 14th, 2008
A Business Partnership can have unlimited or limited liability. A normal partnership has unlimited liability but a Limited Liability Partnership (LLP) has similar advantages to a Limited Company. As such it needs to be registered at Companies House.
Operating a business as an unlimited partnership is similar to operating as a sole trader from a legal perspective. The key [...]
Posted in Planning on Aug 13th, 2008
There are two types of limited liability company in UK. Private Companies are designated as Ltd or Limited, Public Companies are designated as Plc. I shall just deal with Private Limited Companies in this article as they are the most appropriate for small businesses.
The main point of a limited company is to give personal protection [...]
Posted in Planning on Aug 13th, 2008
Sole Trader is the simplest business format of all. You can trade under your own name or a business name and you can set up almost anytime, anywhere with little restriction or red tape. There are a few key things you need to do first though:
Register with HM Revenue and Customs (HMRC) - For Tax and National [...]
Posted in Planning on Aug 13th, 2008
A key decision facing the new business is what business format to choose when starting out. Basically there are a number of options which will be influenced by factors such as:
How many of you will there be running the business?
What potential risks and liabilities will you face?
What are the tax implications of each option?
How much [...]