Starting Up In Business

This factsheet covers the factors to consider before trading begins.

Topics covered: business start-up, initial considerations, business plan, business structure, stationery, books and records, accounts, taxation (income tax, national insurance, VAT), employment, insurance and pensions.

Could I Really Make a Go of it?

Many people wonder deep down if they could really make a go of running their own business. It is not for everyone but the following is a list of attributes that successful business owners have. You do not need all of these characteristics but ‘go-getters’ have the majority of the qualities.

What Business Structure Shall I Use?

Having made the decision to be your own boss, it is important to decide the best legal and taxation structure for your enterprise.

Topics covered: sole trader, partnership, limited company, limited liability partnership, co-operative.

The Business Plan

Every new business should have a business plan. It is the key to success. If you need finance, no bank manager will lend money without a considered plan.

Raising Finance

Every business from its commencement and through its development and growth will need finance.

Topics covered: bank loans and overdrafts, savings, shares, venture capital, retained earnings, factoring, hire purchase, leasing.

Sources of Finance

The financing of your business is the most fundamental aspect of its management. Get the financing right and you will have a healthy business, positive cash flows and ultimately a profitable enterprise.

Insuring Your Business

When starting a new business, you will no doubt recognise the need for insurance. It can provide compensation and peace of mind should things go wrong but can also represent a significant cost.

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