I completed an IVA over 15 months ago, I am now looking to go self employed. Will I be able to open a buisness bank account? Do you know of any other problems I may encounter in starting as a sole trader? I do not need to borrow any money.
Hi kiwi, welcome to the forum and good luck with your new business.
The best thing to do would be to ask your current bank whether they would open up a business account for you if this is necessary. Do you really need a business bank account, or could you use your existing account and just split the business side from your personal side - easy to do with a simple set of books.
Other problems you might encounter are trying to get credit from trade suppliers. What sort of business do you intend to start?
