Start your own business right now with these top resources
When you start your own business, it can be daunting. There are so many small details you never used to think about that are now in your control. Taxes. Insurance. Hiring talent. Even choosing which bank to open a business account with. One day you might be able to look at the success you’ve built, but now’s the time to do the hard work and start building.
With so much confusion and an endless amount of questions, we put this guide together to help you get started with your new business.
We advise you to start here, on the gov.uk website. This helpful “set up a business” section outlines how you can register your company and what different types of businesses there are – i.e. sole trader, limited company, partnership. The site also outlines the rules and responsibilities you may have as a business owner. Another good place to look for helpful information and support is your local chamber of commerce.
There is also the Business Support Helpline. Business Support Helpline has social media pages, a YouTube channel, and a phone number and email you can contact them on for any advice or support you may need for your business.
It’s important to educate yourself as in-depth as possible on the industry you’re setting up shop in. Valuable resources can be found at professional trade associations, on social media, in forums, or through webinars and events. Following industry newsletters and listening to podcasts can also be beneficial in keeping you up to date in your industry.
The financial side
This part is possibly the most daunting. It can be worrying to think if you handle the finances wrong, your dream could fall apart. This list gives you a clear and concise view of the different banks and their business accounts, displaying the benefits of each in plain, simple English, removing most of the stress of choosing the right business account.
Tax can be tricky too, but it’s important to conduct thorough research to avoid paying extra tax and take advantage of any tax breaks available for small businesses. Getting a business up and running can be a challenge, and tax shouldn’t be something that slows you down.
Navigating a digital world
Nowadays, you need an online presence – 56% of people don’t trust a business that doesn’t have a website. We aren’t all tech wizards, though; thankfully, there are website builders to help you make an attractive website, even if you only have basic tech skills.
If building your own website seems overwhelming, there are many talented freelancers out there who can design your dream website for you. Alternatively, Google My Business will build your first website for free. Google My Business also offers free digital training to help your business grow stronger.
The first few months of a new business are critical, so it’s important to give your business the best start possible. Take advantage of all the resources available and don’t be afraid to ask other small businesses for advice or help. With some hard work, there’s no reason you can’t make your new venture a success.
With years of knowledge and expertise, Big Hand is dedicated to getting your new business up and running. For more information, you can contact us on 0161 327 2911.