Starting a dating business

It's much more difficult and expensive to unsnarl a mess afterwards. How will the form of business ownership you choose affect your income tax situation?

Learn what your legal and tax responsibilities are before you start your business and operate accordingly.

Some people get help from a professional, for example an accountant, but you can set up a company yourself.

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Following the business tips above will make starting your new business both a smoother, less stressful process and go a long way towards ensuring the business you start lasts and thrives.

It’s very sociable, highly profitable and above all great fun.

You're going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it's really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice. And it may be a long time before your new business actually makes any profits.

Make sure you're on the right track by asking yourself these three questions before you do anything else. Being employed while you're starting a business means money in your pocket while you're going through the start up process.

Check if you need: If you rent or buy a property, you may have to pay business rates.

Small businesses can apply for a discount on business rates and some may pay nothing.

On the other hand, just because you're starting a business, doesn't mean you have to be an expert on everything.

If you're not an accountant or bookkeeper, hire one (or both). Don't expect to start a business and then walk into a bank and get money.

Everything about you and the way you do business needs to let people know that you are a professional running a serious business.

That means getting all the accoutrements such as professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner. Will you have to have Workers' Compensation Insurance or deal with payroll taxes?

It’s simpler to set up as a sole trader, but you’re personally responsible for your business’s debts. Find out more about being a sole trader and how to register.

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