Advice for starting out

[teenageebayer]

Ok, so i am going to finally start out properly with new bank account etc. But my main question is, when starting out is it best to register as a business or private? I will be selling like 10 of a few items and dont play to make allot. So which has the least chance of suspension? And what are the selling limits for private accounts? Thanks

[teenageebayer]

Originally Posted by Alps_a somewhatlegend

Hi. Alps here. I rekon as you are only selling little quantity go for private - depends on the price of items.

You do know that more than likely on your new private account you will have a monthly selling limit of probably 10 items / a certain £ worh a month (cant rememer).
Sometimes on business ones you get a higher limit of 100 item / more £

I know many will recommend the buisness account for many valid reasons - but.... I am a small seller, mainly for pocket money, dog food and some smoke so on my accounts I am mostly private and I have had no probs.

Also you will prob have a yearly receiving limit of £1900, so if you are selling expensive things, you will have to look into this.

Lets see what others have to say and you can make up your mind from there.

Ok thanks, dont plan on selling too much to begin with but would like it to grow. So are there any downsides to setting it up as a business account (bear in mind i am quite young)? Thanks

[unkown5454]

Time is money.

[teenageebayer]

Originally Posted by unkown5454

Time is money.

wow cryptic, Care to expand :D

[GrannyT]

The benefit of years is that you have knowledge - the downside is that you don't have the years left to utilise it.

Without doubt the young know how to spend money - but its the old who know how to earn it. I would give up every thing I am worth - and it's not a small amount - just to be 25 or 30 again LOL:D

Ho-Hum - the story of everyone in the world LOL:D

[teenageebayer]

Originally Posted by GrannyT

If I didn't make £5K a month net I wouldn't bother LOL:D

Wow that's quite allot, my uncle runs his business off eBay and his website and does quite well for himself

[unkown5454]

You have much more time to learn than the rest of us who didn't start so early.

And as GT stated, to be your age and have the experience and knowledge we have now, well, it would certainly be an advantage in life.

[expiredpeanutbutter]

well why don't you ask your uncle instead of us? he has a lot of experience in life and ebay he can tutor you

[Cassie]

enjoy your breakfast....

[teenageebayer]

Originally Posted by expiredpeanutbutter

well why don't you ask your uncle instead of us? he has a lot of experience in life and ebay he can tutor you

Because he doesn't have any experience of being suspended or how to avoid it.

[isitworththestress]

Just open up a lot of small private accounts, as the amounts you are selling are not enough to give you any benefits or keep you safe from the ebay regulations.

You need to be able to move through accounts as if you are different people to survive such small amounts, as you can be removed by anyone who has the urge.

If later you do grow and are able to sell more stock, then your main account will have been built up enough and be able to sell enough to grow in the way you want.

[rsot]

Very lively UK discussion going on.

[GrannyT]

You know how it is Lumberjack - us Brits can natter for hours