Sole Trader Business Plan

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And your role in the business will change over time.These accounts must show all your business income and any expenses incurred in earning that income.Further information can be found in the link below: Tax Guidance for Self Employed People Can I employ staff? A Sole Trader or Partnership can still have employees. Registering as an Employer – Here is where you register as an employer and enrol your staff on the Income Tax Instalment System (ITIS). The Jersey Advisory Conciliatory Service (JACS) offers a free advisory service to help business owners comply with the essential requirements of the Employment Law.A Business Plan is a written document that describes a business, its objectives, strategies, the market it operates in and realistic financial forecasts.When writing your Business Plan you should seek professional advice from your accountant and/or solicitor.If you are not already trading, you should be aware that as part of the process you must obtain a Business Licence from the Population Office which enables you to trade legally.Licenses are ordinarily only granted to those who have residential and employment statuses of entitled, entitled for work or licensed.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?What licences do I need to set up as a Sole Trader or Partnership?If you wish to set up as a Sole Trader (one person) or Partnership (two or more persons), to trade in Jersey, it is a legal requirement to apply for and obtain a New Business Licence which is issued by the Population Office. If you choose to trade under your own name, there is What other licences/registrations might I need to have in place?