Information on starting a production Company

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Subject: Information on starting a production Company

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Original Message 1/7 20-Jul-98 @ 06:36 PM - Information on starting a production Company

Jermaine Wallace

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Is there any information available on the net about starting a production company. I have sold numerous tracks that i've created but I want to start a comapany for more exposure and more
money? any help will be greatly appreciated.

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Message 2/7 20-Jul-98 @ 09:07 PM - RE: Information on starting a production Company

kilo

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get down to your dole office and they'll put you in touch with all the free stuff about starting a company.... othewise that's about it.... the company is useless unless you have a promo strategy... and that is unrelated to the actual company... the company is good to claim VAT or local tax back for expenses, kit etc etc... but you DO have to pay an annual accounting fee of several hundred...... maybe better to do it as 'SOLE-TRADER'.... you just start an account (biz) and get a letterhead..... it is Mr XXX trading as XXXX productions......

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Message 3/7 20-Jul-98 @ 09:34 PM - RE: Information on starting a production Company

Jermaine Wallace

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I see

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Message 4/7 21-Jul-98 @ 09:41 AM - RE: Information on starting a production Company

Fingers

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Is that the same for starting a label?...is it simpler if you do it as a sole trader???? Can you do it as a sole trader?

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Message 5/7 21-Jul-98 @ 10:21 AM - RE: Information on starting a production Company

sir dick

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I'm undergoing the same process myself. I've got some cash in from publishing and I'm starting up my own production company for exactly the reasons that Kilo mentioned. From what I gather everything is a lot easier in a simple partnership or sole trader, but the thing is NEVER to get into debt. IE keep very careful accounts. The reason not to go into debt is because in a partnership or sole trader company you are personally liabel for any payments/debts incurred. You can buy a company with limited liability "off the shelf" for a couple of hundred pounds. It costs a bit to change it's name and you must use a chartered accountant to monitor your expenses but you do then have he advantage that you have limited liability. However, you are then limited by how much you can "borrow" from banks, etc, by your company collateral. this is sometimes where people get into trouble by putting their house into the business !! Rule of thumb in music, for small trading companies - get the cash you need first to start up the business. !

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Message 6/7 21-Jul-98 @ 11:29 AM - RE: Information on starting a production Company

kilo

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yes true..... for a record company, it's probably a good idea to set up an actual company..... because you are limited by liability to only the assets of the company should any sampling/copyright writs sail thru your door etc....... it just costs more... actually it's only 100 quid to form the company at companies house.....

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Message 7/7 21-Jul-98 @ 01:47 PM - RE: Information on starting a production Company

Fingers

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cheers me dears

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