[Wolves] Business Start Up (Was Proposed Talks)

[Claire]

I had an online business selling office equipment and stationary until 
my main supplier went bankrupt overnight, it fizzled out after that with 
a bit of further bad luck (accepting a web package linked to a new 
supplier) until I closed it this January, before it closed me. I lasted 
3 years with a minuscule startup and built quite quickly.

Don't underestimate the amount of work it takes. Not just the work bit 
of it but the background work your customers won't see, the planning, 
the negotiating, the day to day administration, the directing. The 
boring bits. Holidays will become a thing of the past! If you must run 
it from your own home, designate a room/garage/shed to it that you can 
leave at the end of the day, it's easy to become your business and lose 
yourself. Especially so if your business is closely related to your 
hobby. You need to be able to switch off.

Also look into joining a buying group, they often guarantee you access 
to suppliers, even if its a cash account at first, and will have 
specially negotiated terms with the vendors registered with them, 
sometimes also for card services, banking etc.

Business accounts are equally available to sole traders as they are ltd 
companies. Nat West was one which took 6 months. The paperwork arrived 
shortly after the 3 months it took to set one up with Alliance & 
Leicester Commercial Bank so was returned and account closed. YMMV.

One final, final, final thing.. W.E.E.E. Its a pain! And remember, pride 
comes before a fall, theres no place for it.

C