Quitting my dayjob to work independently - Few Queries

[montsa007]

Holla,

I currently work in a private company and apart from that I develop and maintain websites for foreign clients.

Lately the web development work is increasing and its stable in the long run.

Now I can't manage by dayjob and the web work together (I could do that before, as the workload wasn't so heavy)

Now I have the following 2 queries - please refrain from offering advises or recourses about not quitting job or stuff like that
1) I'll be taking a local shop on rent, do I need any special license to run my business? (I don't have any employees for now)

2) Any special permissions to be obtained?

 

[Faun]

Yes, it's advisable to register a company.

 

[montsa007]

Yes, it's advisable to register a company.

Where did I say am starting a company?

I plan to do it as a freelancer aka 1 man show.

 

[noob]

in that case sit home and work..why you need to take shop on rent ?

 

[abhidev]

Where did I say am starting a company?

I plan to do it as a freelancer aka 1 man show.

can't you work from home if you are anywyas gonna work alone? I mean I am just trying to understand the need of renting a shop.

 

[montsa007]

in that case sit home and work..why you need to take shop on rent ?

no

can't you work from home if you are anywyas gonna work alone? I mean I am just trying to understand the need of renting a shop.

no 10 chars...

 

[vikz]

As far as I know, you do not need a special license or permission to run your business. You can run a sole proprietorship business without registering a company.

Read this article, it's pretty informative - Sole proprietorship

 

[Arrow->]

Holla,

I currently work in a private company and apart from that I develop and maintain websites for foreign clients.

Lately the web development work is increasing and its stable in the long run.

Now I can't manage by dayjob and the web work together (I could before as the workload wasn't so heavy)

I plan to quit my dayjob and start the web work full time not as a company, but as an individual/freelancer.

Now I have the following queries
1) I'll be taking a local shop on rent, do I need any special license to run my business? (I don't have any employees for now)

2) Any special permissions to be obtained?

lets do it on partnership as i am also thinking of the same.Btw yes you do need to register.Otherwise your clients wont trust you.

 

[nac]

I am not a lawyer or this is not a legal advice. Up to my knowledge you can very well run your business with out registering, assuming you are the sole proprietor. It's better you post this query in a financial/business forum/thread to get the right response.

 

[montsa007]

As far as I know, you do not need a special license or permission to run your business. You can run a sole proprietorship business without registering a company.

Read this article, it's pretty informative - Sole proprietorship

+Karma....

 

[theserpent]

Well sole proprietorship doesnt require any registration.
But it has many disadvantages.Like Limited Capital,Unlimited Liability.
I suggested some other form.Why dont you find a partner.
Well if you have enough capital and think you can put your full time into your work go for sole.
Or i suggested partner ship.Maybe someone to mangange or graphic desiging.
Just ask a lawyer his views.
Best of luck,.

 

[montsa007]

Well sole proprietorship doesnt require any registration.
But it has many disadvantages.Like Limited Capital,Unlimited Liability.
I suggested some other form.Why dont you find a partner.
Well if you have enough capital and think you can put your full time into your work go for sole.
Or i suggested partner ship.Maybe someone to mangange or graphic desiging.
Just ask a lawyer his views.
Best of luck,.

Most of the partners are based abroad, the only local one I know is based in Delhi

Capital is not a problem in this field, you need to be creative to get more income rather than buying loads of tools

 

[TheHumanBot]

work from home will save you from lots of trouble and money too.

i would not recommend anyone to quit their day job,
no matter how many projects you gets right now.
also sent you a PM.

on same boat.

 

[montsa007]

work from home will save you from lots of trouble and money too.

i would not recommend anyone to quit their day job,
no matter how many projects you gets right now.
also sent you a PM.

on same boat.

My virtual boss said a wise saying.
If you juggle 3 balls, its okay, 4 is somewhat okay, but 10 leads you nowhere.

The catch is am working for some heavy gauge Institute which national presence (In USA) and not some local estate agent.

Juggling that with my job will be a mistake as they (the USA guys) won't think twice before screwing me to the fullest for doing the job as a hobby, Americans are known for suing people for lame reasons.

The lamest being this - *pcworld.co.nz/pcworld/pcw.nsf/news/granny-sues-apple-for-broken-nose

 

[Faun]

I wouldn't recommend quitting job if you are not starting a company.

 

[theserpent]

Yes i agree with faun.Stick to your job.and do that work for extra bucks

 

[montsa007]

Yes i agree with faun.Stick to your job.and do that work for extra bucks

Check this scenario (Figures are imaginary)

Current scenario
1)9 to 5 dayjob where I get paid 100 bucks a month + part time web development where I get paid 120 bucks a month (with no room for expansion due to lack of time)

Scenario 2
Full time web development where I get paid 350 bucks a month + loads of time to increase the scope of earning

 

[Faun]

Check this scenario (Figures are imaginary)

Current scenario
1)9 to 5 dayjob where I get paid 100 bucks a month + part time web development where I get paid 120 bucks a month (with no room for expansion due to lack of time)

Scenario 2
Full time web development where I get paid 350 bucks a month + loads of time to increase the scope of earning

Your call.

Starting a company has its own advantages.

 

[coolpcguy]

^ And it's headaches. No one looks at the other side of handling a company. As a employee, you're doing a job someone allocated to you. As a propreitor, you're doing your job, asking others to do your job, looking at finances, sales, marketing amongst others.

 

[montsa007]

^ And it's headaches. No one looks at the other side of handling a company. As a employee, you're doing a job someone allocated to you. As a propreitor, you're doing your job, asking others to do your job, looking at finances, sales, marketing amongst others.

When you love what you do, no headache is too bad to handle.

In General Interest - I don't understand why everybody is offering me advise on why I should not quit my job, I never asked for it, my question was "what are the formalities I need to complete to do what am about to do" and not "Whether I should do it or not"