Anyone own a successful soletrader business and could offer advice?

Was thinknig of starting up a businessAnyone own a successful soletrader business and could offer advice?
have just started up my own limited company, and would recommend





http://www.businesslink.gov.uk





they offer practical advice in all aspects of starting up a business, I've found their website invaluableAnyone own a successful soletrader business and could offer advice?
Find a gap in the market preferably with little local competition.Do your homework, ask around. If there are similar outlets locally visit their premises as a customer and see what they are doing and how you could improve it.


Try to make it a 52 week a year demand, not seasonal.


Keep your prices keen, it`s better to sell 100 items at 拢1 than 50 at 拢1.20.


Don`t buy the cheapest raw materials, especially in the food business, it`s false economy.


Basically, without knowing what you are thinking of doing, it`s a bit difficult to advise further. Fell free to mail me.


Good luck.
i have a business which started out 10 years ago as a sole trader then became a partnership and recently became a limited company with 15 employees. so if i had had advice from someone 10 years ago that would have done me any good, what would it have been?





1. dont start out without any financial funding, this will lead to problems later on.





2. consider becoming limited if you think that your company may employ people or have a large turnover in the first couple of years.





3. always put aside money for your tax bill.





4. start your accounts package, sage, or an alternative on day one and ensure that you are aware on a monthly basis of what money you have made and if you have made a profit. dont get carried away when money comes in assuming you are making money. take all your outgoings into account.





5. make sure you are proficient at what you intent to do in your business, and learn the things early on that you may not be good at, accounts, health and safety, employment law etc.





best of luck with your business.
Would recommend an Idiots guide to starting a business great book
rule #1 cash flow


#2 people don't always keep promises


#3 cash flow


#4 talk to your customers - they are your best sales people


#5 have fun - when you stop having fun... get out!





good luck


good sources of info include business link - great web site...