How do I start my own business?
If I want to start something like a plumbilg or a Handyman business. I am concerned about the whole accountant stuff and registration and insurances. Any advise would help. Can I just make some business cards and just start doing the work for people? I have the training etc.
Small Business - 7 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Most handymen don't worry about those things. I believe it's understood that handymen are a different sort of thing than a specialist. At least that's how it is in most small communities that I've seen. Here's what I would suggest you need: 1) An eye-catching web page. This is the most important thing because you want people to be attracted to your business. It should suit whatever product you are selling but also be unique and fun. It should give the appearance of professionalism. 2) Get a toll free number. A catchy 1-800 number is something any business should have. There's a reason EVERY Fortune 500 company has one. A toll free gives customers easy access to contact you without paying long distance charges. It also adds to the appearance of professionalism. And a customer will remember the number and be more likely to find you later. It's a fact that a toll free number can increase business by as much as 600%. I recommend going with www.tollfreenumber.org. They cater to small businesses so they've got the lowest prices out there. Hope this helps =)
Answer 2 :
As you are going to be doing work in other peoples homes where unexpected things can happen it is important for you to incorporate to a LLC. Many states will require that you be licensed to do plumbing and contracting, even being a handyman. Licensing might require that you pass a test or show proof of specific education. You'll need to be insured as well. If you go to fix a leak and wind up causing a flood, expect to be sued. There is no reason to be concerned with "the whole accountant" thing. It is worth a few dollars for someone to help you set up your business and books correctly if that is not something you can do yourself. Surrounding yourself with good people is never a bad idea.
Answer 3 :
Something you need to be careful about is licensing. While anybody can mow lawns, contractors who work in a home (home improvement, plumbers, etc) often must be registered with the state. You might want to consult with someone (the people at a Home Depot or Lowe's probably know this) and make sure you don't get in a situation where you run afoul of the laws.
Answer 4 :
You don't say where you live but if you are in the UK you will get plenty advice and support from Business Gateway -free www.bgateway This is who my husband and son registered with and they have been very helpful Also visit your local job centre who can give advice to small businesses starting up,and possible grants depending on personal circumstances
Answer 5 :
Whatever you do, do plenty of online research, and even ask a local University law or business professor about any legitimate online work-from home programs or websites. And don't fall for any online paid online surveys, most of them are either outright scams, others don't pay enough to be worth considering as side income (and are just totally a waste of time and life). I reccommend to seek both authoritative online advise and reviews, as well in person (or on-phone) with some business or law professionals. Don't waste your time with online work-from home programs, unless you know absolutely sure it is legitimate, approved by the BBB and other government agencies, and is well-known or well-reputable, and has reliable customer support. Hope this helps. Cheers.
Answer 6 :
Assuming you're in the UK, contact your local Business Link. They're really helpful and their advice is free. Inland Revenue requires you to register with them within 3 months of starting up but that's about all the registration you need to do. Ask Business Link for the names of local accountants. You should be able to keep records of your day to day income and expenditure but you may need help at the end of the tax year filling out your returns for Inland Revenue. Insurance is very important. Try AXA as a company that provides insurance from businesses run from home or from premises. You need to be covered for when customers claim things have gone wrong. Think about what the services are that you're going to provide and for whom and then produce your business cards. We've used printing.com for many years now - 500 cards for £49 plus VAT. They're good quality and the guarantee delivery 3 days after receiving your artwork. Good luck!
Answer 7 :
As a Chartered Accountant i would suggest that you keep good books and records as you want to know how much your business is making and how much you are spending on various expenditure items. You need Public Liability Insurance as a minimum requirement, Employers Liability cover if you are going to employ anyone, motor and tools insurance (obvious). You might want to register with a trade association as people don't know if you are a cowboy or the real thing and are not going to rip them off. Yes, you will need to notify your tax office before the find you out from the small ads column or through the grapevine. The Vat might also become interested in you if your sales are over £55,000 in a 12 month period. I know that in your line of business there is a lot of cash in hand stuff which is why the vat and tax authorities send in undercover people to catch the bad apples out. Paperwork is an evil but get it to work for you and good luck too!
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