Hi there. Iíve been reading this forum for a while but am now at a stage where Iím ready to post.
I have been making childrenís garments at home and selling them at markets. I have one niche item and several other general ones. Itís aimed at kids under 5. I am not a registered business as I am carrying on a hobby at present.
However, Iím starting to make some real headway but am still what someone would call a small (micro) producer. Still, the money I am making is covering more than expenses now and Iím at a point where I have to consider my options.
I am aware of the ins and outs of starting a business inasmuch as I have read plenty, have a little business plan, understand the mechanics of setting up a company (which is what I would prefer to do as opposed to being a sole trader).
My main obstacle at the moment is Centrelink.
I am in receipt of benefits (parenting payment) at present and have notified them of my hobby but do you think I can get a clear answer out of them regarding a business? As soon as the word ďbusinessĒ is mentioned, thereís an immediate demand for a balance sheet. When I advise that I want to set up a business
I get all sorts of convoluted and conflicting answers. Bottom line is: Iím not a welfare cheat. I want to do the right thing but the waters are very muddied here. Youíd think that theyíd assist me with getting work or NEIS but ah noÖthatís a different story for another time
Has anyone here set up a business while on welfare payments? Or is anyone in a position to briefly advise as to what I can do about solidifying my position? Yes I do realise the importance of having an accountant onside but I simply do not have the funds at present to finance one hence the question.
I appreciate your assistance.