New Business Idea

Buford T Justice

Hi

I'm getting the heave ho from my job soon due to redundancy and I'm seriously considering starting my own business offering handyman services and that sort of thing.

Would it be worth registering as a sole trader if I do this? or what would the situation be. I'd need to buy a van and a few bits to get going with too, so are there grants available for this sort of thing?

Would appreciate any kind of help I can get that would point me in the right direction here

Thanks

2micheal

Hi Fingers Is that the kind of work you are after? I know someone with an add looking for a business partner in the short term holiday rental markets and B&B fields.

R3al

If you are trading under your own name you do not need to register with CRO, if you intend trading under a different name to your own you will need to register a business name, you will only need to register with revenue for VAT if your turnover is over a certain threshold (37.5K for services and 75k for goods)

Your local enterprise board and FAS might be the best bet for grants, you should check out the Dept of Enterprise website and your local councils website

You should also research the demand for the type of services you are going to offer and the number of other operators in your area, how you are going to market your new venture etc.

Eoin

Would forming a limited company not give your personal assets more protection? Might be something to consider.

Buford T Justice

2micheal wrote: »

Hi Fingers Is that the kind of work you are after? I know someone with an add looking for a business partner in the short term holiday rental markets and B&B fields.

It'd be the work yes. Anything from changing a lightbulb to putting in wooden floors to plumbing to painting and decorating.... well you get the idea.
I'm getting the shove from my current job next month and I'm considering using the opportunity to go out on my own. Its not likely that I'll get a new job similar to what I'm doing now

eoin wrote: »

Would forming a limited company not give your personal assets more protection? Might be something to consider.

Yes it would, but you would need to file annual tax returns or something which can cost around 4K (I think) I doubt I'd be doing that much business to start with tbh.

Eoin

I doubt it would cost that much to get the books done at all, but maybe look into some sort of liability insurance if you go as a sole trader.

Best of luck with it if you do go ahead - there's always a demand for that type of service.

Buford T Justice

eoin wrote: »

I doubt it would cost that much to get the books done at all, but maybe look into some sort of liability insurance if you go as a sole trader.

Best of luck with it if you do go ahead - there's always a demand for that type of service.

Thanks, thats what'd be my main worry, generating business. but lots of people are telling me that they are useless with a screwdriver and would be delighted to have someone like me around.

Anyone got an idea on what public liability insurance costs?

Eoin

Try here for starters - I don't think it's public liability insurance as you won't have the public on your premises, but I'm sure it won't take long to figure out what you need.