Setting up your own business...

Re: Setting up your own business...

Emma Purnell — Mon, 12 Apr 2010 17:58:14 GMT

[quote user="lorena hall"]

sorry, also meant to add... lovely jewellry and fab website. will be back after payday...in my favs ;)

[/quote]

Thank so you much for the advice, I will look to get that!

Also, thank you for the above quote! Looking forward to getting some orders in, just need to fix the payments but the basis is there. Also considering a colour change already!

Re: Setting up your own business...

lorena hall — Mon, 12 Apr 2010 17:15:01 GMT

sorry, also meant to add... lovely jewellry and fab website. will be back after payday...in my favs ;)

Re: Setting up your own business...

lorena hall — Mon, 12 Apr 2010 17:12:24 GMT

sorry coming into this a bit late but i can also reccomend "business start up 2010" book (financial times guide by sara williams) Its brilliant...even I understand it lol

good luck with it all. :)

Re: Setting up your own business...

Emma Purnell — Mon, 12 Apr 2010 16:39:40 GMT

It depends how you set it up I think and how much you plan to earn as well as how much you earn now.

www.businesslink.gov.uk is good for info - take a look. And good luck with it all!

Re: Setting up your own business...

Haley Thomas — Mon, 12 Apr 2010 16:28:25 GMT

Oh ok, I might look into it further then as people have told me that it will be a second income so I will loose most of it in tax? Perhaps they just dont want me to do it? lol!!

Re: Setting up your own business...

Emma Purnell — Mon, 12 Apr 2010 16:16:47 GMT

I have declared that I am employed and, as far as I can see so far, I pay normal tax on my full time earnings but less on my own business as it earns so little. Obviously I may be wrong - I will need to wait for the first tax invoice!!

Re: Setting up your own business...

Haley Thomas — Mon, 12 Apr 2010 16:11:35 GMT

Can I ask how the tax issue thing works? You said you would avoid some tax as you will be earning under 5000. Do you not get stung for more tax as your employed too? This is the only reason why I havent taken my buisness ideas any further.

I used to own my own petshop ..... but dont have a clue on jewellery!!

Re: Setting up your own business...

Emma Purnell — Mon, 12 Apr 2010 12:56:41 GMT

I have looked into it and am really keen to get one set up, I just need to make enough bits to make it worthwhile! I also need to make sure I have people to come! Thank you so much for thinking of me, I really do appreciate it!

Just as a side note - my website was launched last night! With all my work traumas it has been kind of overshadowed and there are some bits to tidy up, but it is very exciting!

Re: Setting up your own business...

Caro Laithwaite VN — Mon, 12 Apr 2010 12:49:55 GMT

Hi Kerry couldn't find your ideas post so popped this here. Not sure if the following was suggested or not? Have you thought about doing jewellery parties. I thought of you when l saw one up on the notice board at work from someone who makes their own jewellery.

Re: Setting up your own business...

Nick Shackleton — Sun, 28 Mar 2010 15:25:37 GMT

looking good Emma! Good luck!

Re: Setting up your own business...

Saskia Quinn — Sun, 28 Mar 2010 15:19:36 GMT

I think it looks fantastic! Well done - you deserve to make a success of this

Re: Setting up your own business...

Emma Purnell — Sun, 28 Mar 2010 15:14:13 GMT

Thank you so much!!

Dad is doing wonders with my website: www.ekbeadworks.co.uk - let me know what you think!

Re: Setting up your own business...

Saskia Quinn — Sun, 28 Mar 2010 15:05:41 GMT

Cant offer any advice on setting up your business Emma, but just wanted to say the very best of luck with your new venture!

Re: Setting up your own business...

Emma Purnell — Wed, 24 Mar 2010 13:10:36 GMT

Thank you Caro! Really appreciated

I will look out for that book, anything that makes it easier has to be good!

I don't think it is worth me spending much as I am expecting so little income and luckily I don't think the car stuff should make a difference as I can do pretty much all of it from home.

Just so daunting, but I am determined to make it work!

Re: Setting up your own business...

Caro Laithwaite VN — Tue, 23 Mar 2010 23:49:43 GMT

If you go to your local stationer (like staples) get a Simplex-D book these are accounts books and very easy to use. Hub used them for many years and he ran some fairly major businesses of his own. Can do your own but these are designed for accounts so the ruled lines do their own explaining and make it a lot easier.

If you want to get more complex can do them on computer progs hub set ours up on xcel. Our accountants said that they have one l think also excel based that is easy to use if you want l will try and chase up the details for you but it is about £100 and you need to consider if it is worth it.

Keep your receipts in date and then month order and separate packets/month It makes life a lot easier for your end of year tax.

It may be worth asking a local accountant to do them for you. If you approach one they will often spend a couple of hours with you explaining things in return for your business. If records are kept carefully it may well save you money in the long run. If you are taking driving into acount then it gets tricky you either claim on miles driven or on car use... fuel, upkeep etc. The best one is miles driven.

Re: Setting up your own business...

Emma Purnell — Tue, 23 Mar 2010 17:58:25 GMT

Haha! They are really popular, I love them!

Re: Setting up your own business...

Maisy — Tue, 23 Mar 2010 17:42:53 GMT

It's looking good Emma Though I reaaaalllly want one of those gobstopper necklaces

Re: Setting up your own business...

Emma Purnell — Tue, 23 Mar 2010 17:37:12 GMT

[quote user="Vicky SVN"]

I've just saved your site to my favs

[/quote]

Thank you Vicky!

Off to see my Dad again tonight to work on it some more

Re: Setting up your own business...

Vicky RVN — Tue, 23 Mar 2010 17:28:22 GMT

I've just saved your site to my favs

Re: Setting up your own business...

Emma Purnell — Tue, 23 Mar 2010 17:23:59 GMT

Thank you all, thats great and I will get onto finding out about that spiral bound book now!

I thought that might be all I needed to do, to be honest my in and outgoings are few and fairly far between currently, so should be fairly easy to deal with! But I am trying to be extra strict about keeping all the records accurate.

The website is www.ekbeadworks.co.uk - but what is up at the moment is my Dad having a giggle more than anything! We are working on a far more sophisticated site (mainly Dad really, who is being a star, but I chip in with what I want him to code!) - without my little chainsaw wielding workman!

Re: Setting up your own business...

Dippy — Tue, 23 Mar 2010 17:18:29 GMT

Hi Emma

Glad to hear things are going well with the jewellery! When I was self emplyed, I attended a couple of workshops run by the local tax office (they do them all over the country regularly) on how to complete self assessment forms, what you can claim for, tips on marketing your business etc and I found them really knowledgeable and helpful. Your local office should be able to tell you more about ones in your area.

What's your website address by the way? Sorry if you've posted it in another thread but haven't been on here much since moving!

Re: Setting up your own business...

Sal the 1st — Tue, 23 Mar 2010 17:01:03 GMT

keep track of any groups you belong to that you have to pay subscriptions for. I claim for my psychotherapy insurance and association membership against my tax. Have you got the spiral bound book from HMRC yet? , if not you may get this sent to you now you have registered- it goes through a lot of stuff, also if you have a local enterprise centre they may be able to give you quite a bit of info - failing that try CAB. Keep all your receipts for everything and keep daily records of incoming /outgoing.

Re: Setting up your own business...

Maisy — Tue, 23 Mar 2010 16:58:44 GMT

I think that's all you'll need to be doing if you're working from home and not employing anyone/ paying rent on work space etc. Be scrupulous with invoices and receipts etc just in case the taxman wants to know any more! HMRC are pretty helpful if you need to phone them for more advice, they were useful when I rang about self employment.

Let us know when the website is ready!