Sole Trader Business Plan

Sole Trader Business Plan-2
Start by talking to your existing bank about opening a business account with them.

Start by talking to your existing bank about opening a business account with them.

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How will production schedules be met and the business be administered so that you know where you are?

How will you get the reliable and up to date management information you’ll need?

When starting your own business, you should avoid the Christopher Columbus approach. In fact, research has shown that over 50% of businesses that start without a business plan fail within the first two years.

When he set out on his journey he didn’t know where he was going. And when he got back, he didn’t know where he had been. This strongly indicates that success in modern business requires planning.

Rather than paying Class 2 contributions on your total income from two years ago, the Startup Plan is designed to offer you a base rate to pay now.

It is reviewed on your total income in two years’ time.

So you’re a Jersey resident and thinking about starting up as a Sole Trader in Jersey here we will endeavour to address all of your questions on the practicalities of setting up your Jersey business.

If you are thinking about setting up as a sole trader in Jersey, the sections below we will take you through the process of registering your business, explain the forms that you will need to complete and where to submit them.

Your business plan should be continually updated as the business evolves.

You may need to share your business plan with potential investors, grant providers and business partners.

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