small business

P

podgeandrodge

Guest
Hi
A relation of mine has purchased the buildings and ongoing business of a cafe/restaurant. He was told he has to keep the existing staff on, but what happens if he changes the menus/ethos of the place to the extent that the current staff are not suitable?

Also, he had to pay stamp duty on the buildings he purchased - are there no grants for people setting up their own business if it happens to be the same as the original business?
 
are there no grants for people setting up their own business if it happens to be the same as the original business
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Off-topic, but is there any good reason why the state or state agencies should be subsidising small businesses like this?
 
subsidy

Well it prevented the original staff going on the dole queue..! And whatever about a subsidy, surely its good to encourage small business startup without hammering them with stamp duty at the very beginning!
 
Re: subsidy

What about the oft-quoted importance of the free market economy (or is that only relevant when we want to bash the civil servants and/or the health service). Surely businesses like this are either viable or they are not? Do we really need state subsidies to get our skinny lattes?
 
Re: subsidy

Hi podge

It is extraordinary that someone would want to get subsidies for a restaurant! And for keeping one open rather than setting one up.

I don't know the rules for what happens to staff when businesses are being transferred. If he has not completed the legal formalities yet, he should check those out immediately. I would guess that if he is buying a viable business, then the staff would probably be protected. If he is primarily buying a building with an unsuccessful business, then I would have thought that the business should have been closed down by the existing owner before the sale of the premises.

Brendan
 
subsidies

OK! Point taken about subsidies! But the imposition of high stamp duty on someone taking the risk of taking over a small business that otherwise would go to the wall and retaining employment seems to me a little harsh.
 
Re: subsidies

But the stamp duty applies to the building, not the business. If the business goes bust, he will still have the building.

Having said that, I thought it didn't make sense for businesses to purchase property like this - I thought he'd be better off purchasing the property personally and then renting the property to the business.
 
tax break

We should also get rid of grants and subsidies for large foreign manufacturers.

It seems that small indigenous start-ups are being hammered for tax in a most appalling draconian fashion - so that these large companies can get their tax breaks.
 
Re: tax break

It seems that small indigenous start-ups are being hammered for tax in a most appalling draconian fashion - so that these large companies can get their tax breaks.
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Please explain more - I thought that the same tax rate applied regardless of size of company?
 
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