if you are choosing a trading name for a new business venture, think creatively!
In order to set the price of creative goods and services, you’ll need to know the costs involved. Obviously you cannot afford to sell things for less than they cost! It’s useful to know the break-even point, if only to set an absolute minimum price. As the price goes up from there, so does the profit. But what are the costs of producing creative goods and services?
You make your living from your creativity, selling products and services to customers. Sounds straightforward, but it’s not. The reason it’s not so simple is that there is intellectual property (IP) involved in all creative businesses and the things they sell to their clients. There’s a lot of confusion about intellectual property. Customers often misunderstand what they are buying and creative entrepreneurs themselves are sometimes unclear
Naturally, most people are interested in any financial support for their business.
Often, their enterprises are receiving financial support – from themselves !