Crosswords0 min ago
setting up a small business
7 Answers
i have an idea and would like to make a particular kind of jewellery to sell. I would be doing this from home and i will be going by orders, or small sale on ebay, so have no idea of potential earnings, what are the essentials i need to know before i start?
Many thanks in advance
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I can guess what the jewellery is!! :-p
Ok you need to consider things like tax implications.
If you're going to actually have a company, then you can actually buy a ready made company for approximately �225 (including a name change). This would be registered at Companies House for you and take a lot of the stress out. A company called Oyez sells companies (I bought one from them yesterday).
I've never run my own business, so I won't try to give you tips, other than that you'll need to be really organised and keep good records of everything bought and sold. And of course, research your market really thoroughly before you invest any money. And watch out for patents on the particular bracelets you want to make.
Sounds great though... good luck! :-)
I wouldnt be too concerned about setting up a company so early in the proceedings. I know someone who recently registered her company and cost nothing like the quote above but I can find info out for you if you want.
The way you and the Jan_Bug have hints that this may be a specialised product and could be unique. Would you need considering a patent?
Keep a simple account of what you buy and sell and use invoice numbers etc. There are plenty of good books about which could help. I got one off my own bank a few years back aimed at small businesses and start ups. Give yours a call and see if they have any free literature that could help you.
Good Luck, sounds intetesting.
I didn't mean abotu GETTING a patent, Imeant about checking you wouldn't be breaching any existing patents. Even if sold in the US only at the moment, the makers of such jewellery items might have taken out a patent on the design in the UK. You don't want to risk getting sued - so check it out with the patent office first (I presume such a thing exists, I never studied Intellectual Property Law I'm afraid).
PS - Registering a company costs less than that, but I wasn't quoting for registering a company, I clearly said I was quoting for BUYING a readymade ALREADY REGISTERED company. This is more expensive, but saves the hassle. And I didn't actually recommend buying one, I said "if".
I would definitely start selling on ebay to see what the interest is. I used to make and sell jewellery (not highly secretive original stuff like you!) and although it was a good source of pocket money, I couldn't have made it into a business. These sort of businesses are so unpredictable. I know people who have been very successful and others not at all even if their stuff was just as nice. Ebay is a good place to try things out bearing in mind that others may copy your idea.
Hi boobeseque... I've no idea about running a business but what I would say is that, assuming you are designing the jewellery yourself, you should make sure you date all your drawings. Copyright exists automatically in an original artistic work. There is no need to register ownership. However, it is important to date drawings in case a third party ever tried to accuse you of copying one of their own drawings which was identical/very similar to your own. In addition to copyright, other forms of intellectual property (IP) that would be relevant to you would be designs (unregistered and registered) and trade marks. Patents wouldn't really apply as they protect inventions rather than the design/creation of products such as jewellery. Obtaining a registered design (protection of the appearance of particular features of a product eg. the contours, shape etc of something) and a registered trade mark can become expensive and so is not something to worry about at the beginning but if your idea does take off, it is sensible to think about protecting these rights at some point down the line. The UK patent office website is www.patent.gov.uk and you will find lots of helpful advice on IP on that site. I hope what i've written makes sense - am in a bit of a rush and so haven't had time to read what i've written! Good Luck! x
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