Friday, 21 February 2014

Setting up a business

I decided to set myself up as a publishing company. I'm not really sure why I am doing this, except that I've always wanted to run my own business like my father did. I almost did so a few years ago, and looked into how to do it, and it looked interesting and useful. So I am taking a bit of a leap in the dark here. The main aim at the moment is to learn and practice how to run a small business and to end the year in credit and to publish my book.

The British financial year starts, I think, on 6th April, so I think that will be the official start date of my business and I have applied to my usual bank to set up a business account there. That will mean that the finances of the publishing enterprise are kept separate from my personal finances, which will make them more transparent. They give free banking for 18 months to startups.

You have to register with the British UK for self-assessment for tax purposes.

The Publishers' Association give some advice on starting out as a publisher

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