Starting A Business

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Written by:

Vickie G


Date added:

July 23, 2013








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10 / 2630


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Starting a fashion business is not for everyone though. Starting a fashion business requires inspiration, hard work, planning and persistence. The business I am starting up is a boutique business it will be called ‘Queens Kool’. I have decided to become a sole trader. I chose to be a sole trader because I have unlimited liability, I will have complete control of the business and I will be totally responsible for its success or its failure...
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It is also simple and inexpensive to set up my business as a sole trader. I get to keep all the profits, although I realize I must save enough money to pay taxes, VAT, and interest on loans. Some of the losses made in my first year may be offset, or balanced against money I have paid earlier in the same financial year towards tax...
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