View Full Version : What should I register my Business as?
derek
21-01-2012, 09:58 AM
I am in the process of setting up a new on-line Sublimation / transfer / gift-ware Business, but I am unsure what I should register it as IE: sole trader etc... to start off with I will still be working full time in my other job as a PAYE. Any help would be much appreciated.
Thanks
Derek
John G
21-01-2012, 10:55 AM
I think soul trader should be OK - that's what I started out with then changed it to a partnership
derek
21-01-2012, 11:36 AM
Thank you for your fast reply John, it is much appreciated and I hope you have great year
Derek
John G
21-01-2012, 12:35 PM
I think if you reg as a ltd company there is a lot more paperwork to carry out but in the event your company doesn't succeed, you have limited your debt. Whereas a soul trader you'd be liable for all debt if your company went pop.
logobear
21-01-2012, 12:51 PM
sole trader, easy in, easy out, least paperwork
cardman
21-01-2012, 02:43 PM
if i was a business id be pretty wary about giving credit to any Ltd company in this day and age because you simply may not get paid.
mrs maggot
21-01-2012, 03:00 PM
sole trader is the right way until you have stopped your full time job, its nice to see someone doing it right, and not just pocketing the money as a bit of "extra cash" starting off like this the right way, will ensure a good future in front of you. good luck.
keep a good set of accounts, adminsoft is free - start it right at the beginning and it will make things a lot easier, esp at the moment, when your full time job is paying for the outlay, you need to be able to show it all
AdamB
22-01-2012, 08:27 AM
keep a good set of accounts, adminsoft is free..........
Not seen this before Laura - just downloading to try now, do you use it?
smitch6
22-01-2012, 08:41 AM
pity it's not compatible with a mac :(
mrs maggot
22-01-2012, 05:24 PM
yes adam its what i use, just be careful when you set it up, to backdate it to as early as you need (so add 6 months onto your start date at least) as once set up you cannot alter the start date for figures - ie enter a receipt for jan dec 31st if you set it up for jan 1st. smitch, have you been on the forum, there was somthing about mac, but not being an mac person i have not read
smitch6
22-01-2012, 06:05 PM
Hi Laura yes i did look into the facs etc
and the only way it'll work with a mac is if you run the windows on it
which i hate as i think i wanted to get away from windows lol
mrs maggot
22-01-2012, 06:29 PM
there must be other developers out there with something for mac
AdamB
22-01-2012, 09:44 PM
yes adam its what i use, just be careful when you set it up, to backdate it to as early as you need (so add 6 months onto your start date at least) as once set up you cannot alter the start date for figures - ie enter a receipt for jan dec 31st if you set it up for jan 1st. smitch, have you been on the forum, there was somthing about mac, but not being an mac person i have not read
Thanks Laura :-)
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