Starting Up a Small Business

Tired of working for someone else? Have you ever had any thoughts of starting your own business either on a part-time or full-time basis? You are not alone. A lot in this world have started set up a small business on their own. Among the beauty in having your own business are you write your own pay checks, working flexi-hours, making your own decisions and a possibility of working from your home in your home business.

In most part of the world, starting your own business is a very simple and straight forward process. Before you get excited about it, you have to understand the legal aspects of your business such as legal requirements and taxation. You also have to determine whether are you going to start a Limited (Ltd.), a Private Limited (Pte. Ltd.), a Partnership or Sole-Proprietor/Sole-Trader kind of company. After that, think of your company name and register it with your local Registrar of Commerce (ROC).

One common mistake majority of people who what to start off their business are that they don’t think about VAT (Value Added Tax) until the business turnover is very high. You are obligated to register to pay VAT. Please check with your local Inland Revenue on the amount of business turnover to be registered to pay VAT. Different states and countries have different requirement. For example, in the United Kingdom, once your company turnover is more than £70,000, you must register to pay VAT. Any purchases made through the company are eligible to claim back any VAT from any company purchases.

Many people know about the importance of insurance but often negated it especially when it comes to business. In United Kingdom, every company set up there is required by law to take out compulsory insurance. In the event of a claim, this protects the both the employer and employees should a claim against the company arise.

Another very important aspect when starting a new businessis finance. With proper budgeting and planning, you will know exactly how much money you require for you to start your new business. Under fund it, you’ll fail. Over funding might end up burdening your profits when you make repayments. Having a good business plan is always a good idea and keeps you on track. You will know what you need to spend on and what expenses you can cut to maximize your profits.

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Heike Ziegler

HEIKE ZIEGLER – YOUR #1 MARKET MULTIPLIER & BRAND MAGNIFIER Heike Ziegler is Founder and CEO of HZH International Brandconsulting UG and CELEBRITY BRAND MOVEMENT a company of HZH INTERNATIONAL BRANDCONSULTING UG specializing in brand, market and business development of brands, retailers and technology service partners in the fashion & lifestyle industry. Heike´s goal is to help you achieve brand-performance and enter new markets faster and easier than you ever imagined. As a veteran fashion designer with an international background, Heike masters complex topics such as the organization of an Omni-channel platform from the ground up and the implementation of new technologies as a service. Future-oriented trading strategies are made possible through advanced automated marketing and the analysis of the difficulties of users (brands & retailers) with a focus on the development and expansion of their intensive B2B relationships. Heike Ziegler provides solutions to strengthen the business performance of hundreds of fashion brands and retailers across Europe, from support through dedicated service networks and data conversion from marketing to providing a complete retail platform for brands and retailers to bring about long-term results. HZH-IBC serves as a platform for e-commerce, web application services/professionals, and for the creation of automated online marketing for the development of Omni-channel e-commerce solutions and trade applications for brands and retailers in the fashion & lifestyle sector. To transform the HZH-IBC platform into a marketplace where fashion and lifestyle brands meet with the trade for the successful sale of products and the joint business development, existing co-operations are being expanded and new partnerships are being developed. If you have any questions about Heike Ziegler success strategies and services, please email hzh@internationalbrandconsulting.com or call +49-172-913-999-5 or skype heike.ziegler60.