Having had my little baby accessories business for about a year, I somehow managed to elude what I perceived as the trappings of a â€œproper businessâ€, scraping by quite happily, but admittedly inefficiently.
I sold my adorably useful goods at village fairs or simply by word of mouth through friends and family. Things were good, easy, manageable, and my modest home double-dutied as office, warehouse, call centre, shop front and so on – that is until I accepted an unprecedented massive order, and at the same time, received the happy, but stunning news that our cosy family of three would soon be a family of four.
At this point, my imminently sensible husband put his foot down and demanded that my little cottage industry had to move on, and I had to get my act together quickly. So, together, we went through the rigorous list of things to do, which were all terribly serious and had ominous names like â€œbusiness planâ€ and â€œcompany formationsâ€. In truth, I didnâ€™t know the difference between a â€œlimitedâ€ vs an â€œoffshoreâ€ company (did that mean glamorously embezzled funds in the Cayman Islands?).
But one thing was obvious- I needed professional help fast. Setting up a proper company was obviously the first step, and we found help in the form of a few online companies. One of them was offering by far the most reasonable rates for setting up a company fairly quickly.
For the financials, as well as help in preparing a good business plan, we found another extremely useful site. For basic steps, tips and advice in starting a business on your own, I found the site www.sba.gov very constructive as well.
So welcome aboard fellow Mums!!!