Advice please: Starting a business

[josh_sheffield]

Hi all, I'm hoping to start a business with a friend of mine. He's a talented craftsman but has struggled in the past with confidence and anxiety. Meaning he sells his work for less than it is worth and has never managed to work for himself.

I'm wanting to provide more of the admin and sales while he does the majority of the manual work. This will be alongside my day to day job. I'm not really wanting to get much financially from this, it is mainly to help out a friend. Plus it will give me access to a workshop space to make use of.

I've done some research and seem to think registering as a limited company is probably the way to go.

Does anyone have any advice, hints/tips, etc?

 

[josh_sheffield]

Thanks for the quick replies.

Ebay/amazon/etsy are all under consideration, plus we have a number of comissions lined up.

The reason for thinking of setting up a limited company is issues we have already encountered. Such as insurance. Having rented a space it was hard to find insurance for our needs outside of business insurance.

Also some suppliers will give us better rates as a registered business.

 

[josh_sheffield]

If he's never managed to make it work - how and why will you suddenly solve this for him??

Its a matter of combining skills. My friend essentially had minor mental health issues, such as anxiety, this makes it hard for him to do little tasks like pick up the phone and call a stranger. I dont. I also dont have his skills when it comes to making things. Hence I plan to help make it work by handling the elements which for him would be a struggle.