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Setting up a business

  • 03-05-2018 8:31am
    #1
    hbab2009
    Registered Users, Registered Users 2 Posts: 113 ✭✭


    Hi,

    Myself and a friend of mine want to set up a business which operates for the Christmas period. It would be both a web based and shop fronted business.

    Please also note we both have full time jobs, this Christmas business is just extra income.

    What is the best option for us? Set up a Ltd company or a partnership. Or what advice could you give? This is all new to us so any guidance at all would be helpful.

    All the best,

    hbab


Comments

  • #2
    NoQuarter
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭NoQuarter


    Not a Ltd company anyway as you will have to file accounts every year and then liquidate. Filing accounts and financial statements can be a pain.
    Can you simply operate as sole traders?


  • #3
    B-D-P--
    Registered Users, Registered Users 2 Posts: 1,167 ✭✭✭B-D-P--


    Go into your local revenue office,
    We did for a small business we set up on the side.
    They were very helpful.

    Advice we got (From memory, it was a long time ago)
    You write a letter to then stating you intend to set up a small business aside from your job,
    You do not expect to earn over 15k (I think) pa.
    You will inform them if you begin to earn more

    kind regards
    You"

    Thats it really.
    Things may have changed since.


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