I posted some months back about the possibility of starting a business(sole trader) during bankruptcy. I can't find that post so sorry if this is repeating itself!
I've been trying to get a new job for around six months or so now and much like many other people I know having zero success. I'd been a company director of three of my own businesses for the last 5/6 years and feel like I'm unemployable in the real world of work!
I've been working as a part time delivery driver for around a year which is very low paid and hours are completely different every month. More importantly my career is really going to get effected the longer I stay doing it. Stress free tho which is nice!
I have a great little business idea selling items for other people and companies on ebay and taking a commission. Whilst I could probably trade like this and not tell anyone as it's all done through Paypal online, I really want to make sure I'm ticking all the boxes with the OR. Someone even suggested on my previous post that I get a friend to start a limited company for me. But I understand that this illegal.
I understand that I can start as a Sole trader during bankruptcy but would need to insert 'my name t/a company name' on documentation. My problem is that I'm already stressed with having differing income every month and sending payslips back and forth to moonbeever. I;m also moving house soon and getting married so will need to send a new Income/expenditure and wait to see whether the OR will agree to it first. I concerned that starting a new business (whilst being employed part time elsewhere) will make my situation really complication and be much more stress than it's worth.
If someone could shed some light on what I would need to consider that would be very much appreciated.
In addition, the moment I'm discharged can I become a limited company? Will being in an IPA have any bearing on this?
Starting business during Bankruptcy
Posted - 02 March 2011 : 11:00:23
