Starting Your Own Business Venture

SETTING UPYOUR IWN BUSINESS THE PROCESS AND PITFALLS BROUGHT TO YOU BY TENERIC.CO.UK CHECKLIST – IN THE UK ALONE THERE ARE NEARLY 5 MILLION SMALL BUSINESSES (UNDER 500 EMPLOYEES) COMΈ UP ΧΥΙΤΤ ΑΝ IDEΑ. 5. TAKE SOME LEGAL ADVICE .AND NEARLY 50,000 Business can be a mire of legal problems, so it's best to make sure you're well set up legally. Take some advice either from a local company, or for free from HMRC or from Businesslink.gov.uk NEW COMPANIES The first thing for a successful SET UP ΕACH ΥΕΑR business is the idea. Without it your business is nothing. Try running it past friends and family first - but make sure they're SMES EMPLOYED AN ESTIMATED 13.8 MILLION PEOPLE AND HAD AN honest! STIMA ED COMBINED ANNUAL TURNOVER OF £1,5ØØ BILLION WRITE A BUSINESS PL AN FIND PREMESIS AND STAFF Having a solid plan behind the business will ensure that you have benchmarks and targets to aim for, and that your always going in the right direction Your own business premesis will allow you have a dedicated space to work in. Managed premesis are a good option for a first start, as all bills are usually included, making it easy to budget for LONDON HAS 748,000 ENTERPRISES - MORE TΗA Ν ΑΝΥ ΟΤΗER REGION REASONS TO BE 3. FIND A MENTOR TO HELP SET UP PHONES & INT ERNET SELF-EMPLOYED Having a mentor who has experience in the business world is invaluable. They can help make sure you make the most of your time and resources Phone lines and a physical address are important factors in giving people confidence in your business. If they know they can easily get hold of you or visit your premesis they are more likely to use * BE YOUR OWN BOSS * USE YOUR OW N IDEAS you * LOW START UP COSTS * WORK FROM HOME REGIST ER WITH HMROC 8. SET UP A WEBSITE In order to make it official you have to register with Revenue and Customs, and decide what type of company you'll be. This can all be done quickly online nowdays A website is an essential part of modern business. In the first months of a business CHOOSE YOUR OWN STAFF you need to do all you can to increase your exposure, and a website with a good SEO base can do just that SOΜΕ ΤΚ.Σ BREAKS ΑND UITΓΙΜΑΤELY. FREED OM! Illumination Consulting www.illuminationconsulting.com