i have the name and have set up a web page, e-mail address but that's as far as it goes. Can anyone give me basic info what i do next? i have tried reading up free business guides given by banks but feel like pulling out hair!!! i need to know 1. do this 2.next do this 3.now do this....... format please can someone HELP??? many thanks
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First step is to contact HMRC and register as a Sole Trader and self employed. Forget Ltd companies unless you have a lot to loose. They will send you all the paperwork and you will arrange through them to pay your NI contributions.
You then open a business bank account.
If you are trading from offices or a shop you will need public liability Insurance. Can't give you anymore info until you tell us what you are going to do.
It's all quite easy really. Don't forget to get an Accountant they will save you a fortune..You do not need to register for VAT unless you will earning 67k in your first year.
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If you are in the US, you need to:
1) Register your business name with the State government. You might not get the exact name you want because it might already be taken. In that case, pick something that is available and establish a DBA (Doing Business As). The DBA is what you advertise. http://www.business.gov/register/busines... This will cost $50-100.
2) I would recommend the business structure type LLC (Limited Liability Company), which will be one of the choices. This structure provides protection from liability, as a result of your business activities in addition to the money you make only being taxed with your personal taxes, not separately as a business.
3) Register with the IRS, which will give you a Tax ID.
4) Away you go!
5) Make sure you pay your taxes!
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if your biz is ONLY a web site, do nothing but find clients and
sell goods. Fact; 99% of all biz's that have a web site only and
no fixed site, do not earn a profit.
if you want further help, ask the local SCORE office in your
city --a dif of the SBA.
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Hi Fred,
The exact steps you need to follow will depend on the type of business you are starting. You the checklist on the government site below to get started.
Good luck!
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very good answer from the gentleman above.. give him the best answer!
I want to start up a small business, but need really BASIC instructions on what i need to do/who to inform?
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