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Starting a business

soilman

12

I have a business idea and want to start up my own. Could anyone tell me the steps involved?

Reply 1

Roll-The-Dice-And-Win

1

I guess its something to do with selling on ebay?

talk to someone in your family/relatives who has started his/own business.

Starting a business can be complicated depending on what exactly the idea is about...if its to do with selling on ebay, then its pretty much straightforward but if its something to do with inventing something and selling it, then it can get more complicated :P

Reply 2

dipz51

I know of this website that gives free information on starting a business. Just enter your details and they send you a free 'starting a business' CD. Also, the site offers tips and advice about the processes involved. The site is:

https://www.shell-livewire.org/furtherinformation/?category=83&invokeRegister=1

Reply 3

NViasko

sm0273

I have a business idea and want to start up my own. Could anyone tell me the steps involved?

Depends whether or not you are investing.

Reply 4

AT82

You need to tell us more info. There are many ways of forming a business. The most simple way isw being a sole trader, all you have to do is pick a name that is not already taken and register with inland revenue. You can do all your accounts but any any business debts you are personaly liable for.

I run a sole trader company as there is little risk and not a huge amount of money involved so the business will always be solvent.

Reply 5

soilman

OP

12

AT82

You need to tell us more info. There are many ways of forming a business. The most simple way isw being a sole trader, all you have to do is pick a name that is not already taken and register with inland revenue. You can do all your accounts but any any business debts you are personaly liable for.

I run a sole trader company as there is little risk and not a huge amount of money involved so the business will always be solvent.

Apologies and thanks AT. I want to be an independant insurance broker. I know I can save people all over the UK a lot of money on insurances, by doing all the work.

So I could pick my name then register, make a website and thats all?

Everyone think competition for insurance is too strong and it would cost too much to market the site so I need to think of something else, what do you folks think?

Also have the idea of becoming and independant free lance real estate agent. All I need to do is find one person with a real estate brokerage licence so they can sign the papers, and we do the selling. We would hire a room and run it over the net and cut down the operational costs.

Reply 6

NViasko

Get some experience first?

Reply 7

soilman

OP

12

The-Lennon

thats not a new business idea really.... im kinda disappointed.

insurance thing is already done with www.moneysupermarket.com

ok its not. but these are ways I can make money with very little costs.

Reply 8

Roll-The-Dice-And-Win

1

Insurance business has a high barrier to entry....you would need millions of investment to set up a viable business to get some share of the billion dollar market. Also you would need knowledge of the industry and also law and compliance with the Financial Services Authority (FSA). Regulation in the insurance business is very high.

Reply 9

AT82

The net has far too mucn competition but setting up a local estate agent may well work if you know the market well enough. I don't know anything about that side of things so I can't really help you.

Marketing on the internet is very difficult though, you need big budgets to survive.

Reply 10

soilman

OP

12

AT82

The net has far too mucn competition but setting up a local estate agent may well work if you know the market well enough. I don't know anything about that side of things so I can't really help you.

Marketing on the internet is very difficult though, you need big budgets to survive.

Perhpas it was a silly idea then. But if people would use me, I could find most people on this board cheaper insurance and save them doing the work. But that isn't very taxing.

Anyhoo; how is your business going AT? Dont know if it was because my suggestion was so silly, but people here seem very intent on shooting anything down quickly.

Reply 11

AT82

That is the problem with business, it is tough and people are too quick to poke fun at failure and not like sucesses.

I am not saying don't go for it, all I am saying is make you sure you do proper market research.

My business is slowly improving, I am slowly starting to get established now and I am getting more and more confident allowing me to charge more.

Reply 12

soilman

OP

12

Wish you best of luck mate. I never had the intention of taking over the UK with little start up funds. I simply had the idea of making a site (not expensive) and finding out what is involved. If it did not cost me much and I got a bit of work I would be relatively happy if I managed to do something like that myself. I never either said that I thought I had found a niche in the market. Just providing a service locally at the moment (since I am still student - albeit going into 4th year). But it seems like a longshot at the moment.

Think I will buy bouncy castles :smile:

. £800quid on ebay, need a trailer, couple of hundred to advertise in local paper. Should make it back easily, or not...

Reply 13

AT82

The-Lennon

have you got a website?

Of course I have, but I would be breaking the rules if posted it here. I also don't want random TSR's knowing my address and phone numbers.

Reply 14

AT82

sm0273

Wish you best of luck mate. I never had the intention of taking over the UK with little start up funds. I simply had the idea of making a site (not expensive) and finding out what is involved. If it did not cost me much and I got a bit of work I would be relatively happy if I managed to do something like that myself. I never either said that I thought I had found a niche in the market. Just providing a service locally at the moment (since I am still student - albeit going into 4th year). But it seems like a longshot at the moment.

Think I will buy bouncy castles :smile:

. £800quid on ebay, need a trailer, couple of hundred to advertise in local paper. Should make it back easily, or not...

Bouncy castles is probably a much safer bet, you won't be rich but you will be working for yourself and you should make a decent living once its established, just do the market research and try not to thread on other peoples toe's too much.

Starting a business

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