Finance

Financial guidance for running a fashion business successfully and sustainably. Topics include pricing strategies, tax obligations, VAT, funding options, and income management.

Adjusting Your Business for a Changing Market

Keep your small business afloat during economic slowdown by focusing on what works best and cutting back on what doesn't.

Raising Funds for Your Fashion Business

Banks are cautious about fashion businesses, but multiple funding options exist if you know where to look and how to position your company.

Self-employment and Tax: Part Time and Full Time

Self-employed workers can reduce their tax bill by claiming the right expenses, from home office costs to work travel.

Setting Prices for Your Clothes and Designs

Figure out what to charge for your clothes by comparing competitors, calculating material costs, and valuing your time fairly.

Taking an Income from Your Business

Your personal income from a business isn't the same as business profit, and you can take a salary even if your business isn't making money yet.

Understanding VAT in Your Fashion Business

VAT registration isn't required until your fashion business hits £70,000 turnover, but understanding how input and output tax work could save you money.