BEFORE you start setting up your own business, there are a few things you need to think about. Here are some of the things you need to take into account before taking the plunge, according to the Money Advice Service: Think about how much you'll need to spend on getting the company started.
Remember, it's important to be realistic in terms of how much it's going to cost you and how much profit you're likely to make.You'll need to make sure that you business is insured incase anything goes wrong. You'll need to take out business cover such as public liability and equipment insurance.You'll need to register for Self Assessment to pay your own taxes.
But you can make a tidy profit by flogging old CDs either online or back to sites like MusicMagpie which will pay you anything from 5p to £2.50 to recycle your old discs., spending around 10 hours a week buying secondhand stop from boot sales and sending them into the website. Over two years, he made £3,858.16.