Starting up a business
Discussion
I’m looking for some advice because I really have no idea where to start.
I would like to start a business selling my hand-made jewellery. I’ve got a large portfolio of designs, an idea for a brand name and the website that I want is available…
So… how do I start? Is there a place where I can find out if the brand name is taken?
It’s not something I’d really thought about before. It’s just been a hobby making stuff for family, friends and special occasions. Now I’d like to take it further, but I don't know where to start!
Thanks for any help...
I would like to start a business selling my hand-made jewellery. I’ve got a large portfolio of designs, an idea for a brand name and the website that I want is available…
So… how do I start? Is there a place where I can find out if the brand name is taken?
It’s not something I’d really thought about before. It’s just been a hobby making stuff for family, friends and special occasions. Now I’d like to take it further, but I don't know where to start!
Thanks for any help...
Companies House Website is your friend
1) Check that no companies are trading under your proposed name, you may want to become Ltd at a later date
www.companieshouse.gov.uk/toolsToHelp/findCompanyInfo.shtml
2) Check that there are no registered trademarks using your intended name in your field
www.ipo.gov.uk/tm.htm
Then I would register your domain name asap (I would also form a Ltd co of the name and keep it dormant if you don't need it now - we've just done this with a business that my wife has set up.), then set up as a sole trader, register with the HMRC using form CWF1 ( www.hmrc.gov.uk/forms/cwf1.pdf ), go and see a bank and get a bank account and find a local accountant who can advise on accounting costs (you can keep these to a minimum by keeping good records yourself - keep receipts for everything!
Don't forget to look at VAT to make sure that you don't need to be registered. Initially you won't need to but when you become very successful, you'll need to register
And best of luck with your new venture.
davidy
1) Check that no companies are trading under your proposed name, you may want to become Ltd at a later date
www.companieshouse.gov.uk/toolsToHelp/findCompanyInfo.shtml
2) Check that there are no registered trademarks using your intended name in your field
www.ipo.gov.uk/tm.htm
Then I would register your domain name asap (I would also form a Ltd co of the name and keep it dormant if you don't need it now - we've just done this with a business that my wife has set up.), then set up as a sole trader, register with the HMRC using form CWF1 ( www.hmrc.gov.uk/forms/cwf1.pdf ), go and see a bank and get a bank account and find a local accountant who can advise on accounting costs (you can keep these to a minimum by keeping good records yourself - keep receipts for everything!
Don't forget to look at VAT to make sure that you don't need to be registered. Initially you won't need to but when you become very successful, you'll need to register
And best of luck with your new venture.
davidy
Edited by davidy on Friday 27th April 09:18
Rob Smith7 said:
It can be quite expensive setting up a full blown company (LTD), registration and annual registered accounts required (+£300). Obviously there are tax advantages of being Ltd but you might be best off just being a sole trader. Unless you project lots of sales that is!
Thanks for the advice Rob
How's things?
Do not go down the limited company route until you have spoken to an accountant - and arte fully aware of the legal, accounting and tax implications of running a limited company.
For small businesses, limited companies are not always the most appropriate vehicle and operating as a simple sole-trader may be the best option - initially anyway.
There is no legal requirement to register a "business name" in the UK. The government does not operate any kind of central business name registry.
For small businesses, limited companies are not always the most appropriate vehicle and operating as a simple sole-trader may be the best option - initially anyway.
There is no legal requirement to register a "business name" in the UK. The government does not operate any kind of central business name registry.
davidy said:
Yes but it's still a good idea if you are a sole trader trading under a unique name to form a ltd company and keep it dormant (therefore minimal annual cost), just in case (and it prevents anyone else stealing the name)
davidy
davidy
Possibly...
But for £200 you can register the trademark which will effectively stop anyone using the same name for the same usage.
That will mean that the OP does not have to file accounts each year and annual returns - with the fee.
Registering the limited company name WILL NOT automatically prevent another sole trader or partnership trading using that name (or a similar name) so registering the limited company may not be worthwhile. All registering the company will do is prevent another limited company being registered under the same limited company name.
In actual fact, limited companies can also use alternative trade names too (e.g. XYZ Ltd trading as "Jones the Butcher" ) so another limited company could STILL operate using a name you wanted to retain solely for your own business.
When someone else is found to be trading using a name you consider your's, the only course of action is to try and persuade them to stop. You can take your argument to court, if you wish, but there is no guarantee that you will win.
In actual fact, limited companies can also use alternative trade names too (e.g. XYZ Ltd trading as "Jones the Butcher" ) so another limited company could STILL operate using a name you wanted to retain solely for your own business.
When someone else is found to be trading using a name you consider your's, the only course of action is to try and persuade them to stop. You can take your argument to court, if you wish, but there is no guarantee that you will win.
Edited by Eric Mc on Saturday 28th April 09:14
Hi Citronella,
Whilst your domain name may be free (of course, go for it and get both .com and .co.uk if you are able), it is worth looking at your public presentation. Certainly, if your name is unique then getting it trade-marked is worth doing; but its also £200! Unless your name and the product line is SO desirable then you may easily get away with just using your name as a sole trader. Under English law you may (and anyone may) use a trading name with no problems. You could also put 'TM' after your trade name as you do have limited protection under the 'Passing Off' law, if someone tries to 'replicate' your exact business. The other point is that, assuming you do get a website created, how are you going to sell the stuff? Remember that your Website is YOUR image to the public and if they see what they like then they will want to buy. And you must have it in stock! Sorry, I'm rambling on and have so much to say. If I can be of any further help, then please contact me on ibingle@aol.com
Ian
Whilst your domain name may be free (of course, go for it and get both .com and .co.uk if you are able), it is worth looking at your public presentation. Certainly, if your name is unique then getting it trade-marked is worth doing; but its also £200! Unless your name and the product line is SO desirable then you may easily get away with just using your name as a sole trader. Under English law you may (and anyone may) use a trading name with no problems. You could also put 'TM' after your trade name as you do have limited protection under the 'Passing Off' law, if someone tries to 'replicate' your exact business. The other point is that, assuming you do get a website created, how are you going to sell the stuff? Remember that your Website is YOUR image to the public and if they see what they like then they will want to buy. And you must have it in stock! Sorry, I'm rambling on and have so much to say. If I can be of any further help, then please contact me on ibingle@aol.com
Ian
Just reading about your intentions - Everyone says Good Luck! but the reality is you need hard work!
I am an independent Management Consultant and have been a Business link Accredited advisor for several years I would be only too pleased to try to help you get started; its something I do regularly.
With regard to you website and branding I strongly suggest you contact www.thedesignoffice.co.uk its a brilliant small company run by two ladies whom I know very well and they really know their stuff; mention my name.
Drop me a line if you want any help.
Rob Smith7 said:
how are the business plans coming on?
still plans at the moment 
getting there slowly... but other things are getting on top of me at the moment: depression, other problems, quit my job because it was just making me ill... could be better I guess, but I'm getting back there
Holy moly, quit your job? Shame, if your job was making you ill then its their responsibility to help! My old boss (Rory O’Conner) was off for 18 months while he sorted his head out. If you are sick then seek professional help. As a bloke my natural reaction is to just say ‘pull yourself out of it man.’ But I’ve had experience of this and depression is debilitating. It is trendy for those who have not been there to criticize depression medication, but the drugs do work and hopefully they should only be required for a very short time.
Obviously get yourself sorted before embarking on any stressful venture. You will need to be strong. At least you are now free to enjoy all this nice weather that we are having ;-)
Obviously get yourself sorted before embarking on any stressful venture. You will need to be strong. At least you are now free to enjoy all this nice weather that we are having ;-)
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