Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

New venture

Options
  • 10-10-2007 5:19pm
    #1
    BenFoldsFive
    Closed Accounts Posts: 19 ✭


    Hi there,
    Have a few questions.
    I work full time with a manufacturing company and I have spotted an opening in the market to provide a service(not directly connected to the company I work for) .I plan to start this new venture part time(mostly do the ground work evenings and weekends).

    I would like to registar a company name which would relate to the service I will provide.My question is should i register as a sole trader or would it work to my advantage to set up a company.I feel that I would be treated differently and have a more postive response from potential customers if i were trading as a company.

    It will take aprox 6 months groundwork before i can secure my first customer.
    Any ideas?
    Thanks in advance.


Comments

  • Options
    #2
    Avns1s
    Registered Users Posts: 3,422 ✭✭✭Avns1s


    I wouldn't be in any rush to set up a new company unless you need it for some particular reason. I don't agree that you will be view that much differently and you will have the expense of set-up and the ongoing costs associated with continuing the company.

    Try and figure it out as a sole trader first of all and if it's getting off the ground, you should then consider the limited company, but only then.

    This is of course, just my opinion and you might know something about the industry that informs differently.


  • Options
    #3
    DJB
    Registered Users Posts: 706 ✭✭✭DJB


    I agree. Set up a trading as name for yourself. I think it's only 30/40 euro and away you go. You won't have to register for VAT or anything until you start selling. If the need arises, then move to a company.


  • Options
    #4
    gibo_ie
    Registered Users Posts: 782 ✭✭✭gibo_ie


    Company name only costs 10 euro on the www.revenue.ie website. This is a good start. you can get a company set up yourself or using a specialist company should you wish. You dont have to regster for VAT either way unless you are earning over 35k per tax year.
    Some useful links describing differences in companies etc:
    http://www.privateresearch.ie/companyformation/typesofcompanies.htm
    http://www.business2000.ie/cases/cases_7th/case19.htm

    good luck on your venture
    M


Advertisement