What are the costs of setting up a business partnership to sell jewellery?
Elainer
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A friend and I are planning to start up a joint business venture buying and selling jewellery based in France. What regime would we need to set up under and what are the likely set up costs as far as paying tax in advance etc. I heard from a friend that they received a large tax bill of 6000 euros before they had even made any profit.
We estimate up to 10,000 euros turnover in the first year, with a profit of around 5,000. Costs would be purchase of inventory, packing materials, shipping. The business will be home based, so there will be no rental of premises etc. We will be 50/50 partners, sharing in the profits and costs.