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I want to know before starting a business can I test the market of the business.

Is there such a thing call a testing grant where the business is tested for one year to see if it will work. If there is any money made in that one year will I be liable to pay taxes. Do I also need to register as a sole trader in this testing period as well. What is the limit you can make in this first year of testing the market?
 
Asked by oluremi jones, March 2009   -  Contact this person

1 Answer

  1. Hi Oluremi,

    Some local authorities offer feasibility grants and there is an organisation called Inbiz that works in conjunction with JobCentre Plus to help unemployed people to test trade their business idea:

    http://www.inbiz.co.uk/inbiz-in-your-region

    Lee
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    Answered by Lee Longstaff, March 2009   -  Contact this person

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