You’re almost ready! But to help you get started as effectively as possible, you should spend some time researching other Etsy shops that offer similar products or anything related to your niche. How to set up your Etsy shop in the UK Assess the competition This is different for everyone, so you’ll need to calculate your own tax obligations depending on whether you’re a sole trader or a limited company. Taxes: as with all forms of earning, you’ll need to pay tax on Etsy sales once you meet a certain earnings threshold.Banking: using Etsy payments, you can collect payments directly into a UK bank account – but you need to keep records for each payment for tax reporting purposes, so make sure you’re confident in your bank.There are tax implications for each ‘type’ of business, so make sure you know how they’ll affect you. If you’re new to Etsy selling and it’s your first business, being a sole trader may be the most suitable choice. Business structure: you’ll need to decide if you want to be treated as a sole trader or whether you want to set up a limited business or partnership.Whilst some people casually sell on Etsy, anyone selling at scale should treat it as a business (or an extended sales channel for an existing business). Business considerations: payments, charges and taxīefore you start selling on Etsy, you need to brush up on some core UK business concepts quickly. We thought we’d create a guide specifically for UK residents, which looks at how to sell on Etsy UK whilst also accounting for tax considerations and the business implications that are most relevant to us Brits. Whether you’ve never considered selling your goods before or just looking at the best way to make money from your hobby, understanding how to set up an Etsy shop is the first step for your fledgling business.Įtsy is an international platform, and many of the internet’s most popular selling guides focus on US-based businesses. If you’re a creator, you may be able to build a profitable business as an Etsy seller. Whilst it’s similar in function to eBay or Amazon, Etsy is unique due to its focus on crafts and handmade goods. Etsy is an online marketplace allowing creators to sell their art and craft products to customers worldwide.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |