HOW DO I FIND CUSTOMERS?
Think creatively about who can help you reach interested parties. Identify the social networks that are most relevant to your customers and also get out into your local community. The more people you meet, the better your chances.
WHAT TAXES DO I NEED TO PAY?
If you are registered as self employed, you will be subject to home business tax on
your income, measured under the self-assessment process. Limited companies
are subject to Corporation Tax on profits at the ‘small profits rate’ of 20%. If you are
turning over in excess of £81,000, you must register for VAT.
HOW DO I KEEP ON TOP OF MY FINANCES?
Keeping an accurate financial record is a prerequisite for any business. Ensure you
keep an up-to-date record of all income, expenses and payments, and a file of
invoices and receipts. Open a business bank account to ensure your small business
cash flow is kept separate from your personal finances.