Ebay As A Business Advice

Hi,
I've recently quit my "real" job as a senior manager of a group of 4 companies (the owner was totally insane - had enough after 6 years - but that's another story!), and have decided to make my Ebay hobby an actual business venture.

I'm looking for any advice on setting up Ebay as a small business (sole proprietor). Are there any tools that people use to make this easier, such as tracking tools? I currently use Excel to track my auction metrics, has anyone developed something to automatically fill in fields in Excel instead of good old copying & pasting?

I'm also concerned about PST & GST, I'm by no means an accountant and am wondering how people handle taxes. Inventory is another area where I need help, how do I valuate inventory when I purchase the same used item from different places for diff. amounts?

Any advice would be appreciated...
Thanks! Hope this is viable, time will tell, good thing my wife has a steady job!
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Ebay As A Business Advice

shoplineca
Community Member
You will get alot of advice from the members on this board. For answers on tools to use, definately take advantage of the suggestions and explore what may be best for you.

Here is a good, recent discussion thread to look at: http://forums.ebay.ca/thread.jsp?forum=44&thread=300002624&modified=1084988159488

It may have the answers to your questions about automated tools to help you in your eBay business.

Under the tax laws of this country, you are required to register your business provincially and federally where filing and remittances will be dependant upon your businesses' annual projected and then later, actual income. You can go here to start: http://www.ccra-adrc.gc.ca/menu-e.html

Not knowing your professional background, I would suggest that you attend some government sponsored information and training classes in setting up and running a business.

Not only will these courses provide you with some insight into licenses that you will need, sources of financing, basic business accounting etc., they will also help you obtain any loans, should that be part of your business plan and business needs.

Check with your municipality as they are usually the ones that host the programmes that are joint ventures between the federal, provincial and municipal governments.

The other advantage you get is deveoping a network of support people in your community.

You have alot of questions that could require alot of detailed explanation and much of that will really depend on where you want to go with your business (how big, target markets, limited to ebay sales etc.)

Far too much to get the type of help from a forum.

If you cant find the resources for the classes I was speaking of, email me and I will get you a contact to make your inquiries through.

Malcolm




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