Setting up a business, hints & tips anyone?

[sequenci]

I didn't really know which section to post this in, so here goes

My best friend and I are looking to start our own business, we will still have day jobs so this will be a sideline, if you will.

Neither of us have ever done anything like this before although my friend has worked in a self-employed capacity previously (He writes books from time to time).

I would be really keen to have as much advice as possible, it would be really appreciated!

[patrickq1]

what advice are you looking for and what business are you thinking of
do you want to import
export
patrickq1
i will help where i can if i have knowledge

[sequenci]

We will be writing music for the media and also for corporates. Nothing will need to be exported or imported I would imagine. I have written stuff for the likes of the BBC, MTV + squillions of other people before but I had someone else do all the serious work for me who took a percentage of the income. He has since moved to the other side of the world so it is time I sorted things out for myself.

[patrickq1]

then go for it you are lucky you have a talent like that i am part of the blue ribband blues lol cant play a tune for the life of me.....do some jingles and try touting them round the likes of granada and bbc see how it goes good luck and have a nice xmas
patrickq1

[sequenci]

cheers sir

I've signed three tracks to a US firm, they seem pretty keen on more stuff too. It's not a great deal of money but every little helps as they say

[Thailand]

Sequenci, is this guide of any use?

The No-Nonsense Guide to Government rules and regulations for setting up your business | Business Link

I ordered one, its full of info.

[patrickq1]

i was an importer for over 20 years from bathroom suites to mobile phones...when i get my charges removed from my property i may start again as ive seen some really nice products...might even consider jet ski's
this time round and go back into importing ceramics tiles
patrickq1
good link thai

[linz2011]

no advice really sequenci but... good luck

[rory32]

You'll probably need the help of an accountant to maximise your earnings. I always use one when I am contracting to avoid paying any tax that isn't strictly necessary. Personally I only pay myself national minimum wage and the rest is taxed seperately (it's a bit different from your venture I know as I get paid hourly and obviously you will only be paid when you actually sell something). Remember you can also claim tax back to a degree on anything that is used as part of the day to day running of the business. You may also wish to have a look here Self-employment: checklist