You have a great idea/a product/a service and your ready to start your own business. Here’s a quick and helpful checklist to get you going:
- Decide how you want to set up your business. If you are going down the route of a sole trader don’t forget to register your business name. If you are thinking of operating as a company you need to set this up first.
- Remember to register for tax. Sole traders will register for income tax whereas companies will register for corporation tax. You will also need to consider VAT and if you need to register for this also.
- Make sure you are aware if there are any particular licences required for your business to operate
- Depending on your business you may need insurance. Do your research of the industry and shop around, it may also be worth seeking a broker for the best deals.
- If you are going into business with a business partner it’s important that responsibilities and expectations are agreed up front and worth put in writing in terms of an owner agreement.
- Last but not least, every business should have an online presence, whether thats a website, social media or both. A well designed website can help elevate your brand and help you make more money!
We hope the above checklist helps you in moving forward with your business, let us know in the comments if you have any other helpful suggestions.
If you would like help setting up your website or social channels you can get in touch here for a free 30 minute discovery call. We would love to hear from you.