Business Basics with Ecommerce Joe
Joe talks business basics with new online entrepreneur Mark Oburoh
During the pandemic, Mark found it difficult obtaining niche products that he needed. So, like any good entrepreneur, he started his own business to fill the gap.
As the business started to take off, he realised that he needed advice and support on topics such as tax, bookkeeping & VAT. Mark got in touch for the advice and as he had such great questions, I asked if we could work through them and record them for others who might be asking the same thing.
On top of starting his own business, Mark has formed a WhatsApp group (50 strong) for supporting BAME entrepreneurs – I hadn’t quite realised he helping so many people ahead of our call, so it’s definitely something we need to explore in a future episode!
Topics covered:
- The concept of bookkeeping and why it’s important.
- Why do we keep receipts + Digital Receipts v Paper/Physical Receipts
- Obligations as a sole trader (self-employed)
- Limited Company vs Sole Trader
- VAT Returns
- Personal Tax
- Dividends
- What is Xero
