Shrimpsvoices

Hi Fellow SV's,

Need some advice starting my own business and need to know the basics,
how do i register for vat?
how do i do my own tax and NI?
Who is the best bank for business banking?

What else do i need to think about?

Cheers in advance!!


Sam

thegentlegiant wrote:Hi Fellow SV's,

Need some advice starting my own business and need to know the basics,
how do i register for vat?
how do i do my own tax and NI?
Who is the best bank for business banking?

What else do i need to think about?

Cheers in advance!!


Sam

hi sam,my first advice would be to get an accountant,theres agood few locals that are good,they will be able to sort out the above mentioned.

Last time i checked Abbey National did free business banking, but you have to use the drop box and not the counter when paying in.

Could save you a small fortune in charges. Most other banks will give you 1 or 2 years free, then start charging.

The advice about an Accountant is an absolute must. However also make contact with the local Business Advisory service who should be able to offer advice about start up money etc.

Best of luck.

I did it in the late 80's and enjoyed it. Unfortunately the advice then wasn't as it is now and as a result I got 'taken' for a lot of money by a client who 'buggered off' to the Indian sub continent, never to be seen again!

http://www.businesslink.gov.uk/bdotg/ac ... 1073858805

Everything you need here Sam.

Santander is free business banking, takes a bit of extra effort but no fees as long as you're in credit.

It's your decision as your own boss whether you need an accountant or not, you can file your own self assessment tax return online if you want to save a few hundred quid but I have an accountant to take the worry away and to be alerted to the benefits of self employment.

All the best

Join one of the Armed Forces.
Enjoy life, see the world, enjoy the thrill, the challenge.....etc
Do your time.
It flies.
I know, coz I've done it!

thanks for the advice lads!

The website for my business will be up and running by end of july and i hope to start trading on 01/08/2010

I'd get yourself onto the Shell LiveWIRE Forum. Lots of people who can point you in the right direction regarding anything to do with start-up advice. They've been doing it for over 25 years now and have helped loads of new businesses. Oh, and they also give awards of £1000 every month with their 'Grand Ideas' awards.

Here's the link:
http://www.shell-livewire.org/forums/
http://www.shell-livewire.org

Paul Lancaster (lordlancaster on the forum) and Stu Anderson should be able to give you plenty of help if you need to contact them, as well as picking up hints and tips off people already running their own businesses.

cheers pal, i will have a good look at that this evening. Just putting pieces together now and have set my self a date for opening!!! I might not make it as my own boss but if I do not try it I will never know

The soon to be web address is http://www.morecambeflyerdistribution.co.uk

I will let you know when up and running!! I will also be advertising the business through the football club, Ockers can you get in touch regarding program advertising costs? either PM or email shenterprisesltd@hotmail.co.uk



Facebook Group


Thanks again.

Sam

If your looking at advertising then have a chat with Mark Prada at Graphic Design. They publish the Local Choice magazine each month. Also have a chat with the Chamber of Commerce about joining, they have a wealth of knowledge you can draw on and also a magazine themselves that goes direct to their members - businesses who I would imagine you'd be wanting to target.

or you could advertise door to door with flyers

One recommendation I would have is to change the name of the company. Having Morecambe in the title is pretty limiting as it implies you would distribute leaflets in Morecambe as opposed to say Heysham or Carnforth.

Additionally flyers tend to be handed out promotions rather than door-to-door items.

Other than that its a great idea. The traditional media are getting hammered, The Visitor and Lancaster Guardian are expensive for advertising, The Citizen has closed and its left a gap in the market.

Your major competition is undoubtedly Local Choice as you can get an advert out to the whole community for only £100; the Royal Mail as they need to fill revenue gaps; and Newsquest, the former publishers of The Citizen, who I understand still have a network in place for door-to-door in this area.

A client of ours had about 1,000 leaflets to deliver in a village a couple of weeks ago and the local Newsquest person only delivered half and probably binned the rest. It would have been a nice job to pass on to someone reputable.

P.S. Business Link, from experience, are pretty useless. Very few of their advisers have ever run a business. As discussed the best thing to do is get a decent accountant who'll provide you with good advice from the off, usually for free initially. You're best going sole trader initially and talk to your accountant about VAT registration, although I'd recommend looking at the flat rate scheme as you're likely to pay VAT at only 11%.

Good luck.

Cheers Posh for your advice,

What about:-

Leaflet Distribution North West
North West Distribution Services
Lancashire Leaflet Distribution
Lancashire Flyer Distribution
Lancashire Distribution Services
???

Advice please or other possible names? Thanks in advance!

Hey,

Just a bit of advice from me. I'd suggest you go to Bay Business in Morecambe, was a great help when me and my mate decided to set up an events business. They're expressly there to help with the snags of setting up a business and deal with a range of things for you. They tell you the tax issues, give you advice on marketing, set you up with a free hour consultation with an accountant and can offer advice on bookkeeping.

When I went there was myself, looking at putting on events, a lad looking at setting up as a window cleaner, and a woman who had set up an interior design business and we all got something from it. The guy taking the course was formerly from the small business unit at Barclays so he knew what he was on about.

Also, once you've done the intro meeting you usually qualify for all sorts of other useful courses in marketing, bookkeeping etc etc.

I know I sound like I'm part of the bloody company but I'm not, just think it's a great thing on our doorstep, we went to them last November and less than a year later we're putting on big international acts in Morecambe.

The website is http://www.baybusinesscentre.co.uk/index.php?option=com_content&task=view&id=2&Itemid=3

Hope that helps

oh yeah, I forgot the most important part, it's free!

Posh beat me to it, I was thinking today that you'd be limiting your area within the name.

Don't forget the South Lakes area.

There's a wealth of experience on this board, and it's good to see that you're taking advice on board - unlike others in the recent past

DTSJim wrote:Hey,

Just a bit of advice from me. I'd suggest you go to Bay Business in Morecambe, was a great help when me and my mate decided to set up an events business. They're expressly there to help with the snags of setting up a business and deal with a range of things for you. They tell you the tax issues, give you advice on marketing, set you up with a free hour consultation with an accountant and can offer advice on bookkeeping.

When I went there was myself, looking at putting on events, a lad looking at setting up as a window cleaner, and a woman who had set up an interior design business and we all got something from it. The guy taking the course was formerly from the small business unit at Barclays so he knew what he was on about.

Also, once you've done the intro meeting you usually qualify for all sorts of other useful courses in marketing, bookkeeping etc etc.

I know I sound like I'm part of the bloody company but I'm not, just think it's a great thing on our doorstep, we went to them last November and less than a year later we're putting on big international acts in Morecambe.

The website is http://www.baybusinesscentre.co.uk/index.php?option=com_content&task=view&id=2&Itemid=3

Hope that helps

Thanks pal, i have emailed them and will hopefully be able to use there services, thanks for all the advice, now i need to start thinking about potential clients!!

Quite a bit of competition in the Lakes area as you would suspect being that Tourism is the number 1 business in the area.

Suggest you do a bit of research before you think about tackling Sooth Lakes as companies called A-Ha Marketing and Northern Print Distribution have got the area pretty well sown up. Both specialise in distributing Tourism leaflets in the main but will take on any form of leaflet distriburion.

Once again Good Luck

thegentlegiant wrote:Thanks pal, i have emailed them and will hopefully be able to use there services, thanks for all the advice, now i need to start thinking about potential clients!!

Ironic though it may sound, try delivering YOUR fliers to pizza places etc, double glazing & conservatory places and follow up with phone calls.

I sell advertising for a local newspaper - but not in Morecambe, and am all too aware of the shortfalls of local press and problems they're encountering - so won't say too much on the subject - but as a fellow SV'er - good luck.

Advice, just wanna know what peoples thoughts are on my slogan

"If you can post it, we'll will deliver it"

We'll 'deliver' it would be... erm.. better.

shrimper wrote:We'll 'deliver' it would be... erm.. better.

I understand his post.......

oh theres always 1 or 2 or 3.......

I understand it, too, but if he's having stuff printed it needs to be right.

shrimper wrote:We'll 'deliver' it would be... erm.. better.

edited now pal, cheers

so what do you think to the slogan.

my personally opinion is that it tells potential customers that we will deliver anything from flyers to catalogues

I've had an idea for a business.
A letterbox that locks with a key, i can open it for an hour each day when postie is doing his rounds,
then lock it for the other 23 hours of the day.
half of my paper recycling bin content are flyers, menus, free papers, junk mail etc
Actually i've changed my mind, i'm just going to get another Alsation
Best of luck with your new business Sam