Starting a new Web design company
tom_thumb started this topic @ 22:35 on 28/03/2008
I'm in the process of researching & going about starting up my own Web design business.
The purpose of this post is to try and get a response and a nod of approval really that what I'm thinking is sound.
I'm thinking that a sole trader setup is probably the best way to go - I have all needed equipment & software, so there are no initial start up investment costs (other than registering & a decent hosting package). There will be some minor investment along the way - but nothing to be concerned about in terms of financial liability.
I would like to trade under a company name. I have read that I don't need to register the name for this purpose - but I feel that it might be a good move to do so (then I have a registered brand as such with domain names etc all in place).
How do I go about registering a company for use as a Sole trader? all the online registration sites seem to be for ltd companies. I did find a site that would register name for Sole trading (I think it was a government site) - but it was over twice the price of the other normal company registration sites......any thoughts here?
If I need to get an extra pair of hands in during a project, is it simply a case of paying them the money on a freelance basis (ie I don't worry about the tax at all) - then counting it as an expense/outgoing.....no other hassles?
Finally, my weakest point of knowledge is the accounts side of things (it doesn't scare me). How in depth do the accounts have to be? How much of this do I have to show the Taxman... just the in and out totals.....or all individual expenses?
I'm guessing that it would be a good idea to invest in some accounting software to take care of it.
Any thoughts or comments will be welcomed - I could use a little experience!
Tom
Interesting or important topic? Please click "vote topic higher" if you think so.
RE: Starting a new Web design company
nick@boomerang | 29/03/2008 12:04 PM
Hi Tom
I run an online based company and as our website is the key to what we do, I guess my comments might be useful to you.
You can set up a Limited Company with just you as a Director, plus someone else as secretary. It costs about £50. Its worth doing this I think as it always looks better, plus you have then secured your company name as your business grows.
Get an Accountant - dont try to do this all yourself. A good accountant will save you his fee each year and it will save your valuable time and money in the long run. He can also advise as to the pro's and con's of Sole trader vs Limited Company for your business.
You should be focussing on your business ie what you are offering, how you will differentiate yourself from the huge amount of competition. Do you already have a portfolio you can have on your website?
What types of service will you offer? Will it be just design and build or will you offer optimisation, PPC managment, link buying etc? if not personally, can you establish a partnership with someone that does, in return for reciprical business?
You are going to have to be able to convince business people that you offer an excellent service that can deliver sales for them - no easy task..
You need to focus on how you will do this..
I hope that helps.
Nick