Blog for entrepreneurs providing business success tips, marketing tips and success stories.

Monthly Archives: July 2011

Build a Partnership Business Type

Posted on July 29, 2011 by admin

This is a similar identity to that of a sole trader but there are two people instead of one. The advantages are much the same as being a sole trader, however when it comes to making decisions you will obviously … Continue reading →

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How to Set Yourself Up as a Sole Trader (3)

Posted on July 25, 2011 by admin

6. Record keeping You are required to keep an accurate and truthful record of all your business income and expenditure. How you record these transactions is entirely a matter for you. If you wish to record them on a roll … Continue reading →

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How to Set Yourself Up as a Sole Trader (2)

Posted on July 21, 2011 by admin

3. National Insurance You will also be required to pay flat-rate Class 2 National Insurance Contributions currently at £2.05 a week, which can be paid by direct debit.

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How to Set Yourself Up as a Sole Trader

Posted on July 17, 2011 by admin

Setting yourself up as sole trader is relatively straightforward. 1. Contact the Inland Revenue Request the form that you need to complete to register as self-employed.

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Becoming A Sole Trader (2)

Posted on July 13, 2011 by admin

Some disadvantages are: You are personally liable for all your businesses debts. This liability is unlimited and should your business fail you could end up losing your personal assets such as your home, car, furniture etc.

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