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Starting As A Sole Trader

  • 28-07-2004 3:16pm
    #1
    center15
    Registered Users, Registered Users 2 Posts: 786 ✭✭✭


    Does anyone know the process involved and how much it would cost to set up as a sole trader?
    Thanks,
    center15


Comments

  • #2
    DadaKopf
    Closed Accounts Posts: 4,731 ✭✭✭DadaKopf


    http://oasis.gov.ie


  • #3
    b20uvkft6m5xwg
    Closed Accounts Posts: 2,695 ✭✭✭b20uvkft6m5xwg


    Tommy McGibney's Guide to Starting a New Business


  • #4
    Johnny Versace
    Closed Accounts Posts: 1,166 ✭✭✭Johnny Versace


    I know a girl (with hardly any English) who just set up a company as a sole trader.

    She said it was simple, and the fee was around the EUR 50 mark.


  • #5
    center15
    Registered Users, Registered Users 2 Posts: 786 ✭✭✭center15


    Ok, thanks for all the links.
    center15


  • #6
    dub_dan
    Registered Users, Registered Users 2 Posts: 291 ✭✭dub_dan


    might be a bit off topic but if you can start a company for only 50euro, can you then get company motor insurance? because thats alot cheaper than normal insurance isn't it.


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  • #7
    Victor
    Registered Users, Registered Users 2 Posts: 78,643 ✭✭✭✭Victor


    Johnny Versace wrote:
    I know a girl (with hardly any English) who just set up a company as a sole trader.
    A sole trader is not a company. A company is a separate legal person with it's own identity and protections and responsibilities. A sole trader (I presume you mean Registered Business Name) is merely a different name, but is intrinsically tied tot he individual.
    dub_dan wrote:
    might be a bit off topic but if you can start a company for only 50euro, can you then get company motor insurance? because thats alot cheaper than normal insurance isn't it.
    As above, it's not a company. Setting up a company will cost several hundred euros and several thousand euros a year to file returns. As it is a business and you will be carrying stock etc. (in the eyes of the insurer) the insurance is often higher, although it can be written off against tax.


  • #8
    Is1ldur
    Registered Users, Registered Users 2 Posts: 589 ✭✭✭Is1ldur


    As far as I am aware you do not need to do anything to start up as a sole trader. One thing you might want to do though, is register your trading name, i.e. Rentakil or whatever, (unless you are going to trade under your own name) at the Companies Registration Office. That would probably cost something. Other than that, you don't need anything.


  • #9
    vector
    Registered Users, Registered Users 2 Posts: 1,756 ✭✭✭vector


    A natural person named John Smith can be a sole trade as "John Smith", it is only if he trades as something else like "Smith & Sons Cleaning Services" or something that he must register a RBN with the CRO.

    As such we are all I suppose sole traders, If I do a job for someone and give them an "invoice" for say 20 euro I am a sole trader. But of course leaving a paper trail I would then have to note this income on my annual personal returns, and preferably have a business bank account.


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