The simplicity of starting and operating your own business is one of the key advantages of working for yourself. Even when working for someone else, you might apply to become a sole trader, which is another word for self-employed, to see if you like it. Here are 5 things you must do when you decide
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If you are a sole trader, you can simply take money from your business bank account to pay yourself as a sole trader (we strongly recommend that you use a separate business bank account for your sole trader finances). And you need to make sure that you keep a record of these drawings, along with
As a freelancer, sole trader or small business owner, other than knowledge of your own trade the most important thing to keep on top of in your business are the numbers. Income, expenses, cashflow, projections, first-hand knowledge of these will prove to be the most important information you will have to hand and without them,
So you’ve decided to Start-Up that business idea floating about in your head, and turn it into a reality; you’ve got a name, now you just need an Entity- but which is right? Limited Company, Sole Trader or Partnership? You should assess the types based on your available time, commitment and resources, and consider long-term
