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Thread: Starting a loss making business - is this the right thing to do?

  1. #21
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    Mar 2010
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    I don't sell very much there but as it is so cheap to use and it is an internet presence you can promote if you have the time etc, it seems like a good interim step from nothing to having your own website, as it were.

  2. #22
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    Aug 2009
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    Rushden, Northamptonshire
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    I'm in the process of getting an Etsy shop up and working - really just need to get my finger out and take more photos. I already had an Etsy accounts as I've been buying from people on there for a year or so. Going to see how it goes selling there when I get organised.
    Anne

    Feel the fear, and do it anyway!
    Blog: http://www.whiteoakjewellery.blogspot.com/
    Website: http://www.whiteoakjewellery.co.uk

  3. #23
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    Mar 2010
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    Gravesend, Kent, United Kingdom
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    Is selling on etsy considered a 'buisness', and/or ebay?

  4. #24
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    Jul 2010
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    The Netherlands
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    My suggestion would be to speak to an accountant, the money I pay each year for my bussiness and personal finances to be filed more than pays for itself annually.

    Good luck with the new venture, it is not as bad as everyone makes out on here, just find a niche.

    Les
    Poor old Les

  5. #25
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    Jul 2009
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    Romsey
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    Quote Originally Posted by wheely View Post
    Is selling on etsy considered a 'buisness', and/or ebay?
    Selling *anything* is classed by HMRC as income; whether it constitutes a business or not they're generally less interested in than whether you're liable for tax!

    HMRC have said they're using robots more (the software variety, not R2D2) to look for patterns of payments into bank accounts/paypal to try to identify people who aren't paying tax. They're particularly interested in a number of traditionally cash-in-hand businesses - riding instructors being one example cited.

  6. #26
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    The Netherlands
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    Quote Originally Posted by ps_bond View Post
    Selling *anything* is classed by HMRC as income; whether it constitutes a business or not they're generally less interested in than whether you're liable for tax!

    HMRC have said they're using robots more (the software variety, not R2D2) to look for patterns of payments into bank accounts/paypal to try to identify people who aren't paying tax. They're particularly interested in a number of traditionally cash-in-hand businesses - riding instructors being one example cited.
    I believe that even sales from from car boot, should be classed as income...
    I have been known to work on a barter system, offering an exchange of services for services, my most recent was the exchange of recycling broken gold chains into 4 rings for a lady in exchange for clothes from her shop. It will give my accountant a headache but needs must.

    Les
    Last edited by art925; 16-04-2012 at 06:27 PM.
    Poor old Les

  7. #27
    Join Date
    Jun 2011
    Location
    Rhondda, United Kingdom
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    I'm looking at making this kind of decision too, as a stay at home mum I have no specific income so pay no tax, and any money I make from selling jewellery goes right back into tools etc. I'm going on a free Business in Focus course next week to find out more about it. Should be interesting...


    Melanie

    http://www.spinysharklythings.com

  8. #28
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    Jul 2010
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    The Netherlands
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    I hope you find some good information Melanie, please do share what you learn. My accountant has emailed me this week to say that he has found me an extra 12,000 euros over the next 2 years...to do with my business loan I think...

    Very happy bunny..
    Les
    Poor old Les

  9. #29
    Join Date
    Apr 2012
    Posts
    8

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    My 2 cents sell on ebay there is no other web site out there that can reach so many people
    yes there may be a lot of tat, but if your stuff is good and stands out from the rest then
    it will sell, if not then it will get lost in the rest of the other so called tat.

    Scott

  10. #30
    Join Date
    Feb 2011
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    Quote Originally Posted by ScottyC View Post
    My 2 cents sell on ebay there is no other web site out there that can reach so many people
    yes there may be a lot of tat, but if your stuff is good and stands out from the rest then
    it will sell, if not then it will get lost in the rest of the other so called tat.

    Scott
    but to make your stuff stand out, you need to have the right keywords. I sell antique jewellery on ebay and get good prices because people are actively searching for say Charles Horner. If you have a 'handmade sterling silver necklace', then you are in competition with over a thousand items, the majority of which aren't even handmade.

    Personally, if I wanted something like say Dennis or Kwant makes, then I'd be looking on etsy or folksy, not ebay.

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