Hassle-free running
Page 51
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• I have been involved in the road transport industry for 16 years and have just worked out how it is possible to run a no-risks, protected-by-law haulage business. The following steps explain: LINever own anything. Rent the premises, lease the office equipment and sub-contract as much work as possible, only leasing or renting your own trailers in an absolute emergency. El Insist that your sub-contractors paint their vehicles in your colours, even showing your name on their tractive units, CI Make sure that you have Ltd after your trading name. By registering your business as a limited company, you stand to gain everything by making a profit, but don't have to worry about your personal assets being seized if you go bust.
CI Creditors who are likely to be needed again should not be paid until at least 90 days after the date of their invoice. Only pay the others when the court summons lands on your desk, providing that you have the money available.
0 If at the end of the year you are making a profit, all well and good.
0 If you are running at a loss, all well and good. Simply call in the receiver, declare your business bankrupt, get the paintbrush out and delete your name from any vehicle or trailer that bears it and carry on trading under a different name, using the same sub-contractors wherever possible because they know the job inside out and are by now desperate for any work they can lay their hands on.
Should this new venture be a success, the old debts are now just a thing of the past. If you fail again, simply repeat the steps. Peter Rattue Reflex Move, Salisbury.
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