Giving Business Advice

[Zacey]

Hello there,

I'm Zacey. Just saying, I am in no way some sort of Business expert. But I feel like I have enough knowledge to find you an answer to your queries around business. Currently in school, I am 3/4 of the way through my Certificate 3 in business, and am in my first year apprenticeship for business management/leadership and doing a second business class (To do studies for my cert 3) on the side.

I can give advice on the following, but not limited to;
Consumer decision making
Major influences for consumers
Financial decisions
Business Structures
General advice (Ask me anything! I'll answer your query to the best of my abilities)

Got a question? Contact Me!
Discord: Zacey#0001
MCM: Zacey
You can also respond to this thread if you wish.

Regards,
Zacey.

 

[JayMC]

How much money can I make dropshipping until I should register it as a business and start paying taxes on it?

 

[Zacey]

How much money can I make dropshipping until I should register it as a business and start paying taxes on it?

If you don't mind me asking, what country do you live in? Different rules apply to different countries.

What do you think would be a good strategy to start a profitable and successful company.

Be original, find something which makes the consumers go to you over someone else, whether it be; leading with values, good deals, easier accessibility and the list goes on. Create a well structured business plan going over all of the details (this does take time), possibly get a business professional to check over the plan. You must have a good amount of funding to invest into your company, as most of the time you have to spend money to make money.

 

[JayMC]

If you don't mind me asking, what country do you live in? Different rules apply to different countries.

Be original, find something which makes the consumers go to you over someone else, whether it be; leading with values, good deals, easier accessibility and the list goes on. Create a well structured business plan going over all of the details (this does take time), possibly get a business professional to check over the plan. You must have a good amount of funding to invest into your company, as most of the time you have to spend money to make money.

US!

 

[Zacey]

US!

I believe a few things come into place, A. Your local city may require you to register 'Doing Business As' and your bank may require you to produce this name in order to open a bank account and B. Paypal will require you to turn your personal account into a business account when you start bringing in a lot of money.

To answer your question I'm not sure of the exact amount. It would mostly be up to your bank or paypal.

 

[JayMC]

I believe a few things come into place, A. Your local city may require you to register 'Doing Business As' and your bank may require you to produce this name in order to open a bank account and B. Paypal will require you to turn your personal account into a business account when you start bringing in a lot of money.

To answer your question I'm not sure of the exact amount. It would mostly be up to your bank or paypal.

Thank you!

 

[Areeb]

Thank you!

Personally I wouldn't register a company if you don't reach a Gross Profit of between 1k-2k

 

[Zacey]

Personally I wouldn't register a company if you don't reach a Gross Profit of between 1k-2k

Yeah, it's not worth the tax with small amounts of income as you could start losing profits.

 

[Luh]

Personally I wouldn't register a company if you don't reach a Gross Profit of between 1k-2k

You don't pay tax in the UK as a registered company until you make 11k in profit per year.
It costs money to hire someone who knows what they are doing.

 

[Zacey]

Added on discord

I haven’t received a friend request.

 

[Areeb]

You don't pay tax in the UK as a registered company until you make 11k in profit per year.
It costs money to hire someone who knows what they are doing.

Oh I didn't know that, I should keep that in mind as well