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Ahhhh the headache - Where to start with setting up my own business

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  • #1

    Ahhhh the headache - Where to start with setting up my own business

    So 2016 is going to be a much more interesting year as I'm planning on setting up my own IT Consultancy business - mainly for Windows based Configuration Management but I'll be branching out in the *nix world as well.

    But this is where is becomes a messy myriad of how to get this from just being an idea and actually being something that can actually be done.

    I know quite alot of you guys (and gals too) have been/are self employed so getting it up and running can be done but it seems like an absolute nightmare to me and it may just be a case of I'm having an extended thick moment (been about 4/5 weeks now) but is it really that difficult to get underway?

    I think in part some of the issues that I am hitting are more because I'm "worried" about some more core things - like registered address & bank account etc

    I'm hoping that you may be able to help give me some guidance (or a stern "your just being a silly bugger") so that I can look to get it happening sooner rather than later because as much as I'm enjoying not being a worker drone I could do with starting to get the finances under wraps for the rest of 2016 as its going to be a busy year travelling.
    I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

    Life is full of Ups and Downs. Shame it just aint simple.
    Tags: 2016, account, accounts, address, bank, bank account, banking, best wishes, business, co-op, credit, defaults, finances, help, hmrc, issues, management, mobile, pay, people, phone, registration, resources, tax, tps, windows, world, young
  • #2
    Re: Ahhhh the headache - Where to start with setting up my own business

    How clean is your credit file ?

    Have had a chat with your bank about this ?

    Have a read here ----> https://www.gov.uk/starting-up-a-bus...t-with-an-idea
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Ahhhh the headache - Where to start with setting up my own business

      You'll need a business plan as well ------> https://www.princes-trust.org.uk/hel...business-plans

      I've been self employed since I was 21 ...and never looked back ...good luck
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #4
        Re: Ahhhh the headache - Where to start with setting up my own business

        "your just being a silly bugger"

        Only joking....But there is some truth in what you say that worrying about things are making it seem a lot more complicated than it really is. In reality it really is quite simple as long as you are methodical.

        In basic terms you set yourself up ( Advertise/Cards/Dedicated phone/mobile etc)

        Tell HMRC what you are doing

        Sort out a bank account ( So that it is seperate from your personal banking)

        Issue invoices/keep basic records

        At the end of your trading year complete your accounts and eventually pay some tax.

        There are a few little things along the way and some considerations with regard to VAT registration etc but in reality once you are up and running you will see that it is fairly straight forward.

        What I am saying is, Don't be worried. There is a lot of information out there and as you say, Quite a lot of people on here with knowledge with regard to this.

        Post up what you want to know, or what stage you are at and somebody will be able to help I am sure
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Ahhhh the headache - Where to start with setting up my own business

          Originally posted by Deepie View Post
          I've been self employed since I was 21 ...and never looked back ...good luck
          And you are only 22 now?......


          There is some truth in what Deepie said, There is a certain satisfaction in being self employed
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #6
            Re: Ahhhh the headache - Where to start with setting up my own business

            I can't offer any help, just sending my best wishes for your venture
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #7
              Re: Ahhhh the headache - Where to start with setting up my own business

              Credit file is tarnished - though I haven't checked it in 3 years or so - mainly because I'm certain that all my defaults are on there and I've moved a few times (not including the last 2 months in hotels etc)

              I haven't spoken with my bank (co-op) formally yet - went in and asked at the main desk though they weren't very helpful at all when I did.

              Princes Trust site looks like it will be the most useful as it seems that they have a 16-30 program so will follow that up and see how it goes from there.
              I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

              Life is full of Ups and Downs. Shame it just aint simple.

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              • #8
                Re: Ahhhh the headache - Where to start with setting up my own business

                All the luck in the world to you .x a good idea if you see the bank manager is to put together your plan ,sometimes if they can see what can be done if may swing in your favour.xx
                if you do it today and you like it you can always do it again tomorrow

                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment

                • #9
                  Re: Ahhhh the headache - Where to start with setting up my own business

                  With regard to your Bank Account, If things are a bit messy with your credit ( You are here on AAD after all.....like us all)and you find it hard to open a business account remember with care you could still use a separate bank account - Such as the Co op cashminder as an account for your business. I have for a few years now with no issues.

                  Perhaps a bit naughty ( But sometimes needs must) but as long as you were careful and payments were made to your name ( Mr Killasuit bloggs - The name on the account) rather than a company name ( Killasuit computer fixers !!!)who would ever know or indeed care? I would imagine your banking needs would be pretty simple so it should suffice.

                  Given a few years your credit would hopefully improve and you could open a business account then.

                  There is always more than one way to skin a cat as they say

                  No cats were harmed in this post
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                  Comment

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