Business start up info needed.

  • Thread starter clarerosebud
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clarerosebud

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I recently had to leave my employment for family reasons. I now have a business started which I want to register. How do I go about this? I want to make it legal etc. (It is a home based food business). I need any help/info on tax returns and anything else I need to know. Sorry, if this all sounds a bit vague :( I'm still trying to figure it all out! Thanks
 
hi have a neighbor (SATM who was a chef) who started a food business from her home kitchen. Started with cakes/breads and went to a few farmers markets and within a few weeks had to cut out the farmers markets as all local shops wanted to stock her soda bread (just one variety with sunflower seeds on top), fly's out the door.

She has professional sticky labels but wraps in cling film, has a basket area on little tables in the small shops. She charged €2.99 for a regular caketin size. I know she had some work to do with kitchen layout, second sink/separate fridge etc needed and now calls an old playroom the Bakery.

I know shes registered on CRO website (as I sneakily checked a while ago after someone else here had a link to the website)....
 
The following two contacts should give a little direction. Best of luck with your venture.



[broken link removed]
 
I filled out TR1 form and registered as sole trader & also registered with CRO, costs €20 to reg. I reg as individual. Have you sorted out everything with health & food hygiene? Good luck with it, would love to be doing something like that.
 
Well I didn't reg as LTD Co. as I was reg with CRO as an individual and I'm not a LTD co., I only work part-time from home at the moment and also have PAYE income. But this person with the food business might be in a much different situation from me.
 
Hi clarerosebud,

I advised someone recently on a similar start up and discovered there are a lot of regulations governing food preparation and sales - including courses and insurance issues - all of which should be looked at.

I think your first port of call should be the Food Safety Authority of Ireland website.

You could find that as T McGibney has suggested, a limited company could be overkill and you may have additional tax write off benefits from working from home.

However there could also be benefits in terms of scaling up should you become successful if you go the limited company route.
 
I dont agree with the overkill comments. Am happy to discuss same. not being dogmatic but the issues do need airing

The operational admin of a Ltd is not more onerous that for a ST

[ I agree you need to get a second director but with on line annual CRO at 20 euro a pop and free ROS.... ]

You can set up a Ltd for about 150 euro

The key advantages for Ltd are the preservation of SW contributions as an employee.when properly structured, at the A rate and the limited liability. It can also cater for SW contributions for the spouse
Class S
http://www.welfare.ie/EN/Topics/PRSI/Pages/selfemployed.aspx

Class S PRSI does not provide cover for any other schemes/benefits like Jobseekers, Illness, Dental and Optical Benefits etc.

Class A does

I know u can top up the PRSI via VC's but thats another days work:)


A Ltd can run from home as can a ST and the Revenue are happy to have an allocation for Home office/ power/heat/ etc: it can all be ring fenced/split.

Finally as we all know, perceptions are important and if a person comes to me touting for business with a business card which says MD or similar of a Ltd company as opposed to joe bloggs trading as....

In relation to food industry regulation, read the legislation and only get hygiene et al services for what is required: I have first hand experience of running a cafe and loads of the hygiene companies tried to sell extra services on the premise that they were required regulations.

Good luck
 
Hi

If you are a self employed director of a company that you control you are assessable to PRSI at class S and not class A. Your spouse may be assessable at class s or class A depending on their sharholding and on the nature of the work they do.

Regards

capnhand
 
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