J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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how many of you Corsa nutters have set your own business up? and how well/badly are you doing?
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I would love one, can't make the break at the moment though, too many outgoings need covering.
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Jodi_the_g
Member
Registered: 7th Aug 01
Location: Washington D.C
User status: Offline
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Started trading November 2004, doing pretty well though cash flow is a problem from time to time, as some account are 90 day payment terms.
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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im hoping in a few years to set up supporting small firms doing out sourced IT support.
But at the moment i'll just count my coppers.
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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quote:
Originally posted by Jodi_the_g
Started trading November 2004, doing pretty well though cash flow is a problem from time to time, as some account are 90 day payment terms.
I remember you asking my advice last year as I mentioned to you about a few rigs I sprayed, glad to see it all worked out mate. 
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chr15barn3s
Member
Registered: 5th Oct 03
Location: Farnborough
User status: Offline
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Id love to set up my own business and I always have done. Ive done the business course at college etc... but now i just need to learn a trade. Im getting into the av trade as that is an up coming market imo.
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Jodi_the_g
Member
Registered: 7th Aug 01
Location: Washington D.C
User status: Offline
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quote:
Originally posted by VenomTurbo
quote:
Originally posted by Jodi_the_g
Started trading November 2004, doing pretty well though cash flow is a problem from time to time, as some account are 90 day payment terms.
I remember you asking my advice last year as I mentioned to you about a few rigs I sprayed, glad to see it all worked out mate.
Cheers its not to bad, just like i said with cash flow, I have a few people working for me so they get paid first so i occiassional do not get paid when i am waiting for payment, but its one of them things.
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chr15barn3s
Member
Registered: 5th Oct 03
Location: Farnborough
User status: Offline
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What type of business do you run jodi and venom?
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Jodi_the_g
Member
Registered: 7th Aug 01
Location: Washington D.C
User status: Offline
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IT Outsourcing
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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quote:
Originally posted by Jodi_the_g
Aids Outsourcing
Sick puppy.
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Jodi_the_g
Member
Registered: 7th Aug 01
Location: Washington D.C
User status: Offline
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quote:
Originally posted by TNM
quote:
Originally posted by Jodi_the_g
Aids Outsourcing
Sick puppy.
Some sick people out there, your be suprised what they pay for
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carnoisseurcraig
Member
Registered: 4th Jun 03
Location: Inverness
User status: Offline
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I started up in 2002 as Carnoisseur. Cash flow was always a problem and in the car accessories business its a big issue. margins aint great and with a shop to run its difficult covering your overheads.
Took on a business partner who fucked me over for ALOT of money which made me bankrupt in Sept 04. Lost my house, car everything but the shirt on my back. Paying the price for being so nieve and trusting but its taught me a harsh lesson.
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chr15barn3s
Member
Registered: 5th Oct 03
Location: Farnborough
User status: Offline
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quote:
Originally posted by carnoisseurcraig
I started up in 2002 as Carnoisseur. Cash flow was always a problem and in the car accessories business its a big issue. margins aint great and with a shop to run its difficult covering your overheads.
Took on a business partner who fucked me over for ALOT of money which made me bankrupt in Sept 04. Lost my house, car everything but the shirt on my back. Paying the price for being so nieve and trusting but its taught me a harsh lesson.
Thats harsh, I could never trust anyone in business after hearing stories like this. Also I would always make sure that it was a limited compay.
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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I didnt set up my own business but I am gradually taking the family business over. I plan to set up a few little businesses when I can see an opportunity to make money and have more of my own money to build new businesses with.
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carnoisseurcraig
Member
Registered: 4th Jun 03
Location: Inverness
User status: Offline
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it was a limited company but you cant hide behind that really. I was lucky that i had all the evidence to back me up otherwise i would have been in alot of shit.
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1_Litre_Porsche_Beater
Member
Registered: 9th Apr 02
Location: Kent
User status: Offline
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I started my own business last october. As mentioned above cash flow can be hard especially as my work is weather dependant although my overheads are very low which helps. Other than that its boomed since xmas and we have great prospects and idea's lined up for the rest of the year.
Once this is fully established, i will look into something else.
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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What to you do?
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1_Litre_Porsche_Beater
Member
Registered: 9th Apr 02
Location: Kent
User status: Offline
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We specialise in mobile car valeting although we also take on cleaning services such as window & carpet cleaning etc.
[Edited on 14-02-2006 by 1_Litre_Porsche_Beater]
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Neil
Member
Registered: 2nd Nov 03
Location: Newcastle Drives: E46 MSport Coupe
User status: Offline
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Been in business for 4 years in April. Doing very well. I do web design. 
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psycho sport
Member
Registered: 27th Mar 03
Location: Guildford Surrey Drives: Vauxhall Monaro
User status: Offline
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quote:
Originally posted by carnoisseurcraig
it was a limited company but you cant hide behind that really. I was lucky that i had all the evidence to back me up otherwise i would have been in alot of shit.
Being a Limited company means you have limited liability. No way can they get your personal possesions/assets, thats one of the main differences between being a soletrader and running a limited company. Something else must have been going on for you to have lost everything. Personal guarentees??
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bradfincham
Member
Registered: 20th Sep 02
Location: East Of England Drives: Clio 172
User status: Offline
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I buy and sell used sex toys, its a trade thats coming and going really 
Mini moto sales, and outdoor toys, i dont make a lot on them as i give too much away for cheap!
Its a business as i have a bank account etc but its gone quite as its winter
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carnoisseurcraig
Member
Registered: 4th Jun 03
Location: Inverness
User status: Offline
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quote:
Originally posted by psycho sport
quote:
Originally posted by carnoisseurcraig
it was a limited company but you cant hide behind that really. I was lucky that i had all the evidence to back me up otherwise i would have been in alot of shit.
Being a Limited company means you have limited liability. No way can they get your personal possesions/assets, thats one of the main differences between being a soletrader and running a limited company. Something else must have been going on for you to have lost everything. Personal guarentees??
yes but when an person who you have an account with has "retention of title" over the goods bought, which lead to the demise of your business then you dont have a leg to stand on. Hence my situation
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by psycho sport
quote:
Originally posted by carnoisseurcraig
it was a limited company but you cant hide behind that really. I was lucky that i had all the evidence to back me up otherwise i would have been in alot of shit.
Being a Limited company means you have limited liability. No way can they get your personal possesions/assets, thats one of the main differences between being a soletrader and running a limited company. Something else must have been going on for you to have lost everything. Personal guarentees??
thats where people get the wrong idea. They think just because its a Ltd company that their safe no matter what happens. If a company is going down the pan and the directors know about it and tyry to cover things up then it can all fall back on them in the long run.
Its only Limited, not NO liability!
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chr15barn3s
Member
Registered: 5th Oct 03
Location: Farnborough
User status: Offline
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Ive always understood that ltd means you have a seperate legal identity from the business. But tbh im not 100 % clued up on this
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by chr15barn3s
Ive always understood that ltd means you have a seperate legal identity from the business. But tbh im not 100 % clued up on this
only to a certain degree, thats why most people think aslong as they make it a Ltd company they can do as they wish and get away with it, and normally end up with a nasty shock!
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