[Isi]

Hey guys, ive been pondering on this for a while, although i have a great business plan and know exactly what I want to do in regards to designing new media, I want to know what legal steps to take to making everything legit. And before you say, all my software is legally purchased and legit.

Thanks in advance.

[sypher]

First thing to decide is, do i need a premises? Is there going to be any employee's working for me?

Depending where your from you need to decide if you want your company to be ltd or sole trader. If you want ltd then you must register an available name.

Next make a buinsess account with ur bank.
Don't let your bank talk you into getting a paid one, business accounts are free. Get an overdraft facility on the account if possible. Dont sign up for any credit cards.

First tax year is free (its not really its just makes more tax on your second year). Setup with an accounting firm or not if you decide to do the books yourself.

Start advertising. And your off

[Isi]

Thanks sypher, that's very helpful!

[James Mitchell]

sypher, on Aug 9 2006, 02:35 PM, said:

Start advertising. And your off

When you are starting off (and this applies to UK and non UK businesses) I do not recommend advertising. If you have the $$ then by all means spend it on advertising, however most of us doing start up companies don't have the luxury of having instant cashflow. So if you spend your money on advertising you are likely spending the only GOLD you have.

I starting posting a list of recommendations, but it was getting lengthy so I just made it it's own topic. Look here for tips relating to Businesses in General: Tips for Starting Your Own Web Design Company

[sypher]

If you get an overdraft facility on the bank and you dont have any startup money then you can do this

Make leaflets drop them in every business in your local town/city.

[jon]

<rant size="small" intensity="weak">

Isi, on Aug 9 2006, 02:24 PM, said:

i ... know exactly what I want to do in regards to designing new media

I dislike the phrase new media. If you're a web design company, don't say you're into new media. Let's say the internet has been around since about 1985ish (and long before in various non-globally accessible forms, hard to give it an exact date as 1- I wasn't about at the time, and 2- it became "The Internet" over many years). So that's more than 20 years old. At the rate technology is progressing its very far from "new" media in my opinion. And if it is new media today, it'll be old media in 6 months. So save yourself the re-branding!

Just my 2 cents, take or leave... And if you genuinely are into new new media, ignore my rant.
</rant>

You can get going as a sole trader today if you fancy it. Let the IR people know that you're self employed in the next few months. If you are trading under a different name, your own name should be on your letter headed paper etc. This is probably most ideal if you expect to make a loss in the first few years, but you have unlimited liability for any loss you might make, so any loss comes down to you.

As a limited company you have limited liability (clever that), you are only liable for the money you put into the company in the first place, but you need to register with Company's House (which costs abit) and you'd probably want to talk to an accountant, as they'd know what they are doing!

Hope that helps a wee bit.

[Ineke]

Quote

Let's say the internet has been around since about 1985ish (and long before in various non-globally accessible forms, hard to give it an exact date as 1- I wasn't about at the time, and 2- it became "The Internet" over many years). So that's more than 20 years old

My mum told me that it had it's 15th birthday this week, but she probs heard that on our local radio station, and how reliable that is im not sure

[Karl Buckland]

I think you may be getting confused with the 25th birthday of the PC?

But yeah, it's hard to define how old the 'internet' is. As a concept, I think it was created in the 60s or 70s. As it is now, it was started in the 80s, but as a technology, you're looking at the early 90s, lol. Easy to define then, huh? If you're really interested, then read about the history of the internet at wikipedia.

[Ben Abrams]

*hint*

[jon]

benbramz, on Aug 19 2006, 02:13 AM, said:

*hint*

And who's that aimed at? I can't decide whether the off topic chatting or the smilie is more destructive to the thread.

[Daniela]

Make sure your business name is unique.
However also make sure:

1. it is easy to spell
2. You can get the .com and the .co.uk
3. Its not listed at companies house.

4. Get a chartered accountant.
5. Get a business account (NOT with the bank you are already banking with, so that they are kept in the dark to your cashflow)
6. Only go with the free advertising and lastly
7. Build some great websites and tell all your friends.

(I would only recommend someone I trust to be doing a really great job.)

You will probably have to write letters and phone them first to find out if they have a website.

Cold calling is not allowed in the UK!

[howtodress123]

I think it Depends where your from you need to decide if you want your company to be ltd or sole trader. If you want ltd then you must register an available name.

How To Dress For Your Body Shape

This post has been edited by howtodress123: 22 August 2011 - 09:33 AM

[jim1234]

If you have a business plan, then everything will be fine!!