What to do and where to start :(

rabbit assassin

Hey everyone,

Im 21 years of age and like an awful lot of people out there my girlfriend and I are unemployed. We cant find work in the past 6 months so we're down to 2 options...Emigrate like thousands of others, or stay and start up our own business. We are home birds , have family, friends. We don't want to emigrate. Our original idea was to start a business and import accessories to do with sports and fitness but I understand that will require massive investment, so that's basically a no. So another option is myself and my girlfriend are thinking of making our own line of affordable artistic creations. We both do it as a hobby anyway so why not try make a living from it right?

My question is what does 2 people have to do in order to legally start a business. We will be making our own products from scratch and hopefully be selling them at Sunday markets and maybe even Christmas markets (basically seasonal outdoor markets) as well as online. I've heard all about people needing insurance and paying tax and Vat and basically its not worth doing as we will be doing it small scale (we're not out there to get rich, just to pay bills like everyone else).
We are both 21 and feel its time to start a career in life and get our you know whats into gear. We just don't know if its worth it because we cant find the exact info anywhere or else its too confusing.

Can anyone give us a list of basically what we need to set up so we are within the law and wont be screwed? Also what we need to do legally (insurance etc) to be allowed sell at street markets, etc..

Thank you for taking time to read our story and for any help that you have to offer us

NJS007

If you have been unemployed for over 1 year, you could approach your local social welfare office and apply for the back to work scheme, which rol give you full benefits for the first year and 75% for the second year.....
Best to do thing on the right way, as you done want to be watching over your shoulder all the time....

Then simply register with the www.cro.ie as a sole trader, and you can opt to register for vat depending on if its right for you...

Great to see some initiative.....
Best of luck to you both....

TylerIE

NJS007 wrote: »

If you have been unemployed for over 1 year, you could approach your local social welfare office and apply for the back to work scheme, which rol give you full benefits for the first year and 75% for the second year.....
Best to do thing on the right way, as you done want to be watching over your shoulder all the time....

Then simply register with the www.cro.ie as a sole trader, and you can opt to register for vat depending on if its right for you...

Great to see some initiative.....
Best of luck to you both....

you dont need to register with CRO if you dont intend to trade under anything other than your own names. You would however need to register for tax as a self employed individual or individuals.

You would also need to inform your social welfare office if you are currently claiming benefits.

A start your own business course will really guide you in the right direction. Meath and Dublin City Enterprise boards but regularly run excellent programmes.

Essentially you just need to register for income tax. VAT registration will be required if your sale of goods exceeds e75,000 per year or sale of services exceeds e37,500 per year.

Insurance etc are not obligatory but recommended if your engaged in certain high risk activities. If your going the market route some markets will insist you have your own insurance, many wont. Some small businesses, including one I assisted a friend with, destroy themselves with excessive insurance policies at the start which create such a financial burden to service them that they really only do damage.

If your talking about organised markets or fairs, you just need to pay them the fee to participate. If your talking about street trading the likes of what takes place on Moore Street - ie street trading - then you need a permit
from the applicable local authority.

Check out any market before deciding to rent a stall. Some promise the sun the moon and the stars in terms of footfall, but many new markets are far from that successful.

rabbit assassin

Thank you so much for the replies they are so helpful and really encouraging

Am I right in saying that the social welfare will assist me with full weekly benefits (€180) or something a week if I show them we are trying to start a small business?

TylerIE

rabbit assassin wrote: »

Thank you so much for the replies they are so helpful and really encouraging

Am I right in saying that the social welfare will assist me with full weekly benefits (€180) or something a week if I show them we are trying to start a small business?

Enquire locally at your social welfare office as it depends on a variety of factors. Also for some of the back to work schemes you only get your current age related benefit amount - so at 21 I dont know if you would get e180.

Ashlinggnilsia

Re social wefare, you need to apply its not simply given, one of the items on the list is also a business plan. You should also check this out http://www.revenue.ie/en/tax/it/reliefs/artists-exemption.html

Also i should mention i think it will be extremely difficult for you to make a living off your crafts unless a) they are expensive items b) you are doing more than sunday markets. It also depends what you ideas are, if your talking decorative items cheap and cheerful you will need to sell a lot.

What i would say to you is make up a bust load of stuff. Try it out for a few months see how you go and then take it from there. If it works fantastic if not looks like yer off to another country for a bit.

There are loads of different places ye could go with this. All your usual craft sales, set up a website, blog (where you can demonstrate you making certain items) Like a Makeydoo Monday once a week do a tutorial, etsy account. There is also a large number of shops that sell handmade crafts throughout Ireland, you should call to them ask them if they will sell your items. You simply drop off some items you tell them what you want for each and they will add on a few euro for themselves. You do not want to end up driving/bussing around the country and finding your spending more money on petrol than you will sell. Go for retro quirky unique things. Do Not make anything that can be bought in a shop. Everyone is broke and everyone is looking for a good deal. If i can get a nice smelling candel for 4 euro in pennies and you want to sell me a handmade one for 10 im not going to go for it. Though the "handmade" name is great for gifts. People feel like more effort went into them. So you should also do a gift section, "Perfect for a quite night in" and do say candels, cushions throws etc. "Pefect for a night out" and do like jewellery "Pefect for someone special" and then maybe in this section include some of your more expensive items.

If you take photographs get up a number of you pics on your site and offer them for print and framing aswel as simple print and you can also include a number of frames so people can choose how they want it.

One handmade important thing to note is that people see this as unique. So when it comes to personalisation see if there is any of your items you can make personal.

Also if you are doing the likes of bracelets you could say have a number of options done up and then take more pics of beads and the person can pick which beads they want you to make it from.

Sorry this has been a bit all over the place.

Ashlinggnilsia

ooh and if you are doing something candle wise you could always offer custom ones like if someones says i love the smell of christmas, get them to explain to you exactly what that smell is for them, you could definitly get the scent and then they have their custom candle. People could choose what colour candle they want, how big, how small, the container and the scent.