how do i start my own business up and what do i need?

Question

this is mainly for h.g.v class 1 work

Answer 1

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Hi Lynden

Please click on my ID,

then click on My 360 Profile

to view details on home business opportunities
(you can choose your level of investment,
minimal cash outlay to start)

Thanks

$

Answer 2

Despite a lot of misleading online ads and email messages that suggest quick payoffs and easy money, few businesses have over night success. Most profitable businesses involve start-up planning, establishing a firm foundation, and implementing strategic vs. reactive approaches.

How you go about it depends on a number of factors that are too much to list here. But, check out the Small Business Administration, link attached - good resources, services and small business loans.

On the other hand, some entrepreneurs just have the right instincts or really good luck, start up "on a wing & a prayer" and become highly profitable. If you can afford the risk and take that approach, pick a business area in which you have VERY HIGH interest, knowledge, skills and at least get a mentor who has lots of experience and a record of success in your field of business.

Good Luck!

Answer 3

I also wonder this same question 4 years ago. Depends on what type you would like to start. I started an online business so there are no high overhead fees or risks. This way I could remain working fulltime & work for my own success at the same time.
You would need an entreprenuerial spirit & to be coachable. Work diligently for 6-8 hrs per week to make 6 figures within 2-3 years. The ultimate plan for success....

Answer 4

Buy a bucket and a sponge - congrats - you now have your own car cleaning company for a very low start up :)

Seriously, it depends what you want to set up a business doing. The easiest ones are labour companies - ie ones where you are the skill that you are selling, be that as a handyman or as a life coach it depends what skills you have.

If you need to borrow start up capital you'll need a business plan and this will need to show where the money is going and how you expect to make money. Start small and work your way up.

Answer 5

Assuming that you have decided what business you are wishing to start you first need to inform the tax and national insurance people. They will then ensure that you fill in the correct forms to get you started. Advertise your services in the appropriate places. Trades can be advertised in post office small ads very cheaply but anything such as professional work will need to be advertised in the trade magazines. Try to work from home as it is cheaper and try not to get a bank overdraft as a start up as you will be forever trying to catch up. Use your personal current account to start with as banks will after your first free year on a business account charge a great deal for their service. Save as you go for your tax liability as when the bill comes in you will feel as if you are working just to pay that one bill. Register for VAT only if you are buying lots of stock or materials. If you are labour intensive then don't bother until you reach the required level, currently at about £60,000 turnover. Without knowing more about your business I cannot offer any further suggestions. Best of luck. I started my own business as a tradesman after many years as a sale director of various companies. Life became more pleasant on my own and it proved quite profitable and I wished I had done it years before.

Answer 6

hi i am actually on starting my own business too. you havent said what it is you are doing but i hope it goes great. i went to my local business link centre and they helped me with things like start up costs, business plan etc and they also told me i may be able to apply for the prince's trust scheme, i also went onto the barclays bank website and requested a business start up pack which i have found very useful as there is a wizard for business planning etc. you could pop into your bank and see what they could help you with. but make sure you see if there are any grants etc you can get. you need to think about what materials you will need, insurance etc rent if you are getting a shop, a business name, what your services have to offer compared to others, i also did a questionnaire which i handed out to a few people asking them what they thought about my ideas etc. good luck and i hope this has helped clear your mind.

Answer 7

I suggest you do a bit of research and let us know what you want to do. This way you will get some better answers. Do you want online business, brick and mortar business, home business, it would help to know these things. Start researching and then ask again.

Answer 8

You need to register your business with Companies House for a start. Then away you go. You have no other legal obligations.

Answer 9

Hi there,

There are litterally hundreds of things to consider when starting up your own business.....

If you can relist or add to your question what type of business it would help out alot for people to give you better advice.

Cheers, ToNy!
"Success.Trail"

Answer 10

You will need a:
1.A building for your business
2.A license