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web company

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  • 28-11-2008 5:08pm
    #1
    vodkadub
    Closed Accounts Posts: 184 ✭✭


    I'm looking to start a company as a free lance web designer/developer, I'm just curious as to how do I set up a trading name or register my business, as obviously any of my earnings will need to be declared to the tax man.

    Thanks


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    #2
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    Start with a business plan.

    Seriously, before you think of a name, you need to see if it's viable. Assuming you want the standard 20 day hols p.a., and taking into account a further 10 public holidays, that gives you 46 working weeks. Out of each five day week, you can assume that sales and admin will take up a minimum of 40% of your time.

    What pre-tax salary do you want? Divide that by 138 and that's your daily rate. Indeed, it's realistically higher as I've not yet considered business costs such as rent, electricity, software licences, etc.

    Now consider your potential pipeline of work. Assume you'll convert only 20% of that. Assume you'll be waiting up to six months to get paid. How's cash flow?

    So while I will apologise if you've done your homework, in which case the CRO and ROS sites will help you out on company registration and taxes, however, I just got the impression from your initial post that you've not.


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    #3
    vodkadub
    Closed Accounts Posts: 184 ✭✭vodkadub


    Apologies not looking to create a company but just to become a sole trader, work for myself if you know what I mean, excuse me if I'm naive


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    #4
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    vodkadub wrote: »
    Apologies not looking to create a company but just to become a sole trader, work for myself if you know what I mean, excuse me if I'm naive
    I know what you mean, but legally if you want to trade under a name other than your own, you need to register it with the CRO. As for taxes, I'd advise you to see what you can put down as expenses and whether you would invoice enough to have to register for VAT (if not, I suggest you get a job as you're earning too little). Both of these sites are quite useful and you can also call them directly for advice.

    However, before you do this, have you done a business plan?


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    #5
    vodkadub
    Closed Accounts Posts: 184 ✭✭vodkadub


    However, before you do this, have you done a business plan?

    Were would I start?


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    #6
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    vodkadub wrote: »
    Were would I start?
    Like with what I suggested in post #2?


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    #7
    vodkadub
    Closed Accounts Posts: 184 ✭✭vodkadub


    Isn't that on the basis of starting a company, and not starting as a sole trader or freelance?


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    #8
    aidan_walsh
    Closed Accounts Posts: 17,208 ✭✭✭✭aidan_walsh


    vodkadub wrote: »
    Isn't that on the basis of starting a company, and not starting as a sole trader or freelance?
    You are going to need those details any much as a sole trader or freelance as a company.


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    #9
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Whether you're setting up a business or going to work on your own, you need to treat it as a business.

    You need to get clients, you need to work for clients and you need to keep clients in order to get more work.

    Regardless of how a business is composed, underneath it they all work the same way.


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    #10
    Axwell
    Moderators, Business & Finance Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Go to the CRO website and register a business name www.cro.ie
    Register yourself as self employed with the revenue www.revenue.ie
    You are then more or less sorted in terms of being registered as self employed. As for the business side of things you would still need to consider the business plans and details of how you are going to get work from clients etc as the lads already pointed out above. Just because you are a sole trader doesnt mean you dont have the responsibilities of a business.


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    #11
    mneylon
    Registered Users Posts: 7,739 ✭✭✭mneylon


    Think of it in very simple terms.

    If your sole source of income is your new venture, will you be able to pay for your lifestyle?

    ie. food, rent etc.,

    To put food on the table you need money. To get money you need clients.

    How are you going to get clients?

    What are you going to offer them?

    A business plan does not have to be a massive tome, but you need to sit down and work out very carefully if your new venture is going to be feasible or not. Corinthian has already done a lot of the basic maths for you :)

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