LFGSS as a small business

I'm surprised you haven't made it a Ltd Co already. The only pisser is needing to be audited, which costs money.

For financial years starting on or after 6 April 2008, to qualify for total audit exemption, a company must:

• qualify as a small company
  
• have a turnover of no more than £6.5 million
  
• have a balance sheet total of no more than £3.26 million
  
  

http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=1073791917

I think LFGSS's turnover is just less than £6.5million, so we're ok.

If you allowed advertising, you would make a fortune, and i for one wouldnt begrudge you for it

I would.

LFGSS starting an imagebank.

The more widespread fixed and ss cycling becomes in the media, the greater the demand for eyecatching images.

You've got enough photographers on here (self included) to submit images in exchange for free use of the forum.

The ghetto getty images.

Buy low, sell high.

Alternatively, sell of the lfgss and londonfgss domains to the highest bidder ;)

Also, if anyone actually knows how to make money, that would be good to know too.

£1

Buro 9 Limited was incorporated today, and trades as Büro 9, the corporate website will be http://www.buro9.com/ when I get around to changing it from a personal page. Company number 7216998, and I have a lovely registered address of 29/30 Fitzroy Square, London. Details here: http://wck2.companieshouse.gov.uk/b4b6f590955fd7397acd1f1fb6a8e7ee/compdetails

So... that's done, and I feel relieved to have this all of my desk and not in my personal accounts. Well, I feel the start of that relief as I've yet to actually get a bank account but at least have started the process.

It's going to be nice to have it isolated from my personal stuff, whilst having the advantage of being able to get a discount on this damned server I need. Happy times (I'm looking forward to an octo-core 24GB RAM machine).

There's far too much advertising as it is.

+1

And you shouldn't encourage me.

I for one wouldn't mind advertising by the various LFGSS-related cottage industries--if they want advertising, that is. It's really mainly obtrusive and stupid advertising for (big) corporates that bugs me. If very small businesses get a chance, I think that's a good thing.

+1

I for one wouldn't mind advertising by the various LFGSS-related cottage industries--if they want advertising, that is. It's really mainly obtrusive and stupid advertising for (big) corporates that bugs me. If very small businesses get a chance, I think that's a good thing.

I agree, don't mind smaller business getting some attention here

velocio - if you don't mind me asking, are we doing ok money-wise or do we /you need more cash from donations / sponsors? I assume loads of members costs loads of monies, but hopefully it also means more donations? Or maybe those two curves doesn't match...

We were doing terrible, in that until January/February we'd always been in the red.

SJS paid up sponsorship for the first 6 months, and that has put us in the black (slightly).

And donations are now running somewhere around the 70% of costs mark (we reduced costs in December, and donations increased in January).

So... we're now in the black, but only just. And so long as the sponsorship continues we will stay in the black. But, if sponsorship ends we'll slip into the red.

The company is good if it does actually make money as this will isolate it from having to be taxed against my personal rate (higher rate tax = 40%). The company as a whole should make money (but not much because it is me running it) as I'm actually going to be selling SharePoint web parts on the side.

The whole point of the company is really to help me finish my degree and to isolate me from LFGSS finances and LFGSS from my tax rate.

The company is going to register as a Microsoft ISV, and then register for BizSpark, and then flog SharePoint web parts. This pays for a server that I need to finish my degree and gives me the software I need to finish the degree and to make the web parts.

LFGSS just piggy backs on this to ensure that if it stays in the black it's not taxed at my rate, and that if it slips in the red then it's subsidised by the SharePoint web parts so doesn't put me personally back in debt (at one point the LFGSS debt sat on my credit card with me covering the interest).

It basically tidies everything up, and hopefully keeps it all legit whilst helping to get me through my thesis project.

The SharePoint stuff is a piece of piss, I'll just do enough to cover costs as I'm busy enough already.

I personally don't mind how you deal with the economics or if make some money off the site unless it's your prime interest. Tbh I think we all owe you for spending time and effort running it. I've learned loads from people here, and prob saved loads of money too, and without you putting all the work in it wouldn't be possible.

Would it be a good idea to ask the forum for an extra pint to the server to get it a bit more in the black and therefor take some worry off your back?

When are you going to start paying salaries to your contributors, Velocio? I think you've had a free ride long enough.

At 10p a post, I figure you owe me about a grand.

VB this is all a good thing. If it helps you take some pressure off while you get on with the personal stuff you need to do, then I'm sure we're all behind you. ;)

cue music from the famous shower scene

Seriously though, excellent work.

Bollocks.

I want paying.

Bollocks.

I want paying.

Apparently I must spread reputation around before giving it to Balki again...

Get back on the game, 50p a gob job, £2 for 'full English", a few hours a night would do it.

What about the £1 to start a thread?

How about anything that got voted best in its catagory in the lfgss product awards gets to advertise on the site.

Which obviously would be up for a monthly review.

I would like to offer my post signature up for lease. Your company can be associated with the most incisive cycling related analysis on the internet.

THIS POST PROUDLY SPONSORED BY

When are you going to start paying salaries to your contributors, Velocio? I think you've had a free ride long enough.
At 10p a post, I figure you owe me about a grand.

I like your style. :)

At 10p a post, I figure you owe me about a grand.

Cheap post whore.

I want to be paid per word.

For your incomprehensible mumbo-jumbo??? You've gotta be kidding me.

I want to be paid to read Oliver Schick's posts.

Jesus! I dont!