Starting a part time buisness
Hope I have hit the correct section! Here goes anyway...
So guys, I am a 17 year old Junior ICT Technician who just completed a Level 3 IT Apprenticeship and I now have a full time job at a very successful academy in Sunderland.
I love my job, and I feel like I am fairly good at what I do. Whilst on my apprenticeship I had plans to start my own business doing laptop and PC maintenance. General stuff; Virus removal, hardware repairs / replacements etc. Now that I have some money behind it with my full time job, I would like to take it on in my spare time. Perhaps doing on site work and then taking it away if it is a bigger job.
After a lot of research I am interested in the behind the scenes stuff, so anyone with this sort of business could really help. I have a list of things to ask, so I will just fire them away and see if people have some answers. I already have a lot of the general stuff such as documents I may need and email / domain registration. I am just looking for answers to the business side of it all.
1. Who do you need to inform? I know that the government needs to know (So they can take more of our hard earned cash) but I am not sure if anyone else does?
2. What kind of legal documents do you need to start trading? I really have no idea on this one other than public liability insurance. As many as you can think of would be great!
3. What sort of information needs to be kept in a financial record? Obviously financial related things, but things like claiming back petrol etc?
4. What other documents need to be kept on file?
5. How easy is it to sort out income tax? A lot of people recommend an accountant which can be very expensive :(.
6. What kind of insurance do I need? Other than public liability. Will I need contents stock and materials insurance? Premises insurance (Even when working from home)
Thank you for actually taking the time to read this everyone, any replies are greatly appreciated.