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[bluemoonsean]

Ha, I built a company once where funding wasn't a problem- turned into a money pit!
Consider every penny and don't spend it till you need to is my advice. Banks ain't so welcoming and as accommodating these days as they once were
"would you like an overdraft with that new account Mr Kent?" no thanks " are you sure about that we could give you another ten thousand" " do I have to give it back? " " yesof course " " still no thanks then " our interest is at very keen rates" " is it fixed?" " of course not" " and you can change those rates as you please without the Base rate changing? " " err yrs we can!" "well perhaps your getting my point then - I don't want one"
Heck today you will need to jump through hoops just to open a darn buisness account with your own cash! That above was pretty much how it was 15- 20 years ago

All taken on board, thanks

 

[bluemoonsean]

Start as Ltd as you can always walk Away loading only what you owe out of company money and assets ( it's also easier to sell up the company) - you will need a buisness plan for the bank mostly today correctly compiled ( though they won't read it) the gear you buy will all carry vat so consider immediate registration ( it sint worth being in this job if you don't do the turnover for compulsory registration anyhow)

Don't you need to turn over 70.000 to get vat registered?

 

[ZRXMac]

Welcome to the forum, if it's the first time being self employed then have a chat with your local HMRC, they do (or did) free courses and it's well worth going, you will learn a lot and they even advise you on what you can claim against to reduce any tax you pay.

Some sound information in here, I'm in a similar boat to bluemoonsean, hi Sean!

I'm also going to be looking into Prince's Trust 18-30 enterprise funding, and looking around at any and all options as far as grants, start up schemes or business loans go..
The guys I'm working with at the moment are strapped for cash and so whilst there are sound ideas, and some excellent prototypes in the works, there's nil investment and so we could be stumped even at affording materials and our initial equipment. With lots to learn it's quite the predicament.

Mac.

 

[Kent]

Don't you need to turn over 70.000 to get vat registered?

No there is a limit your forced to register though I think its around that.

 

[bluemoonsean]

There is a small outfit called the Forge in Albert Mill in L.Darwen

There is Heritage Steel also in same mill, but they supply a lot of council type production work, get steel bits from them at times, good chap runs it.

There is a another company advertises in the area, in fact just done a quick google search for around L Darwen where I am and within a few miles there seems to be 12 companies within 2.5 miles for Steel fabrications

https://www.yell.com/s/steel+fabrications-lower+darwen.html

One of the reasons I would not try around here, then you have Kent up in the forest does the posh stuff.

So make sure you pick your area is all I am saying.

In Leyland there are also several, one that always inspires me for the type of work they do is Holdens, I have bought some 30 mm plate from them in the past, Heskins, is where I buy my box from, think they have changed ownership recently.

So I have a new company name to try and scrounge/buy bits from called Cooper Rigg

Adrian

Yes mate, come and talk to Deric he's got allsorts lying around that's never going to get used. He runs it all single handedly and loves a deal. I'm sure he'll sort you out

 

[Kent]

Some sound information in here, I'm in a similar boat to bluemoonsean, hi Sean!

I'm also going to be looking into Prince's Trust 18-30 enterprise funding, and looking around at any and all options as far as grants, start up schemes or business loans go..
The guys I'm working with at the moment are strapped for cash and so whilst there are sound ideas, and some excellent prototypes in the works, there's nil investment and so we could be stumped even at affording materials and our initial equipment. With lots to learn it's quite the predicament.

Mac.

If you have copyrights or other protection even a confidentiality agreement
Sell the idea itself or at least consider it. Can you fight legal battles against all who copy it financially because if it's a good thing people will
You don't have to make something to make a buck

 

[bluemoonsean]

No there is a limit your forced to register though I think its around that.

I'll get on it, better the vat in my pocket than Mr Camerons

 

[ZRXMac]

There's nothing revolutionary about what we've got, but we have implemented some specific features and a general design that we feel would give what we've got an advantage against other solutions on the market.
I can't sell this idea, it's not wholly mine to do so but we want to give it a good shot ourselves. Whether that be the easy way or the hard way