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I am an interior designer who after some time out travelling has recently rethought my business strategy.
I intended to take it from a traditional offline business to an online training and coaching practice in preparation for the birth of my first child due early in the New Year.
The idea being that it would be a more flexible model that would allow me greater freedom to work around childcare needs.
In the process of making this change I have invested considerable time and expense in learning about making the transition to an online business and investing in the technology to allow my business to operate in this way.
Specifically, I have invested the last 3 months full-time in creating an online interior design course for those who cannot afford the services of a traditional interior designer. The course was designed in such a way that it would continue to generate passive income for my business whilst allowing me to take some maternity leave, since the maternity allowance I am entitled to will not go far in London.
Longer term I envisage that my one-to-one coaching services will make up the bulk of my businesses revenue – but I do not intend to implement those until after my return from maternity leave.
I launched this course a matter of a few weeks ago.
4 of my first customers to come from the Netherlands. So I was dismayed to find out about the forthcoming EU VAT changes would mean that, should I attract further customers from outside the UK but within the EU, I would would have to register for VAT immediately thereby forfeiting my VAT Exemption. In which case a single low value course sale would force me to add VAT to all my future one-to-one services.
As a fledgling B2C business I do not believe that I will be able to pass this cost increase into my customers and remain competitive – therefore I am stuck in the unlucky position of either forfeiting potential revenue from what was intended to be my main post-maternity leave income stream or to remove my course from sale thereby forfeiting months of my time as well as hundreds of pounds in start-up costs!
This is real life impact and Issy’s tory is common.
You can find Issy and her e-course at Issy Zinabur