The time has come for focus on my future, I have decided to put all my toys into storage for a while and take a break from my hobbies, “time to talk business."
The reason for this thread is I need help, advice from all you business gurus, who know how to make money.
Where do I start,
I need to know what to do about the companies, I have a dormant cc and I am a sole prop. I have been operating as a sole proprietor for more than 20 years, and I need to decide if I carry on as sole prop and leave the cc dormant, or do I can the sole prop and go all out with the cc.
A little history,
one part of the company offers, labour (more prfessional) only service and the other part sells labour and materials.
The CC was selling labour only and was not registered with vat. Opened 5 years ago, but unfortunately it became a nightmare trying to keep the two separated.
The sole prop. Is vat registered and has been for 20 years and has a customer base. This company has been involved in projects ranging from kitchen revamps to multi million rand yearly contracts. I spoke to my accountant about my thoughts, but he recommended I stick with what has worked for me for all these years. I read a thread a while back where this CC and sole prop. Discussion came up, if I recall the majority of people advised to go with the CC.