Setting up a new business…
The information below list out the basic steps as discussed in our first video and also links you need to get you started.
If you would like a one stop shop where you can purchase your company formation and regsitered address please visit: https://www.sydneyhudsoninvestments.co.uk/
So here are the steps and links needed:
- https://find-and-update.company-information.service.gov.uk/Check Companies House to see if your business name exist already, this might also give you ideas of different names to consider.
Recently updated by .gov website – see guide here: setting up
- Ensure you find a way to protect the name of your business, there are various ways of doing this. One way (not the only option) would be to get all the relevant domain names, this only goes so far. Another would be to trademark your business name https://www.gov.uk/government/organisations/intellectual-property-office – use this link to see what already exist. (get a trademark lawyer to help you!)
- Register as self-employed (even as a director) (https://www.access.service.gov.uk/registration/email) and of course register the business via companies house (https://www.gov.uk/limited-company-formation/register-your-company), using a registered address preferably. This point deserves a blog on its own, so we’ll provide this at a later point.
- Get an accountant or at the very least a bookkeeping tool (buying this via an accountant is also more cost effective) Getting an accountant is helpful as you’ll need someone to be accountable to and can be the insurance you need to protect your business finances as well as your personal finances.
- Separate your business finance from personal finance – get a business account, we recommend https://www.starlingbank.com/ they are a good challenger bank but the next best thing could be with who you currently bank with at present.
- A tip, try to register your business on the last day of the month or on the 1st day of the month – will save you £££…. just trust us!
These are some very basic steps, of course if this is all daunting, then we’d suggest getting a mentor who is already where you’d like to be.