Home – New Forums Starting your journey Selling on ebay Sole Trader or Partner. Reply To: Selling on ebay Sole Trader or Partner.

#1111054
Kennethti
Member
  • Total posts: 415
Up
0
::
dudley, post: 123522 wrote:
Hello!

I am a stay at home mum looking at selling on ebay to get extra cash to pay bills etc.
We will be selling cooking products, scales, pots, books, then moving to our own website and along the tracks a cafe with cooking products.

I am studying patisserie which has management, only the basic stuff though, customer service, leadership and so on.
Having no experience in business, we thought ebay would be an easier start up.
What we want to know is which would be better for us, a sole trader or partner?
I am very confused about the registration of the business/name, when will we pay taxes, GST, do we need a TFN for selling on ebay? Should we get an ABN now? Do we just go ahead and register for everything?
I have read a lot of the forums and still don’t understand a lot about it, would it be wise to talk to someone?

Selling on ebay is only the starting point then eventually, hopefully have our own store :)

Thank you :)

Hello! Welcome to small business!

I echo the sentiments above. Generally speaking and without looking into your specific situation, you would likely need to:

  1. Consult with an accountant about a business structure – sole trader or partnership. Generally speaking a partnership is basically two sole traders operating together. This can mean that debts incurred by the partners must be paid by both the partners. You need to examine the implications of this and what might happen if the business goes bad. If you are trading as a sole trader this means that your husband doesn’t have to pay your own debts. This might be useful from an asset protection perspective. Again, obtain professional advice in relation to this.
  2. Once you have settled on business structure, obtain an ABN for a business structure.
  3. If you are trading in a name other than your own name, register a business name with ASIC.
  4. If you have a logo or a brand name, do some research to make sure that you aren’t stepping on any toes, and then consider registering a Trade Mark.
  5. If you are trading over $75k per annum then you must register for GST and fill out Business Activity Statements.

All the best!