Planning To Live And Earn In The UK? You Will Need the Help of a Business Plan Writer UK
While most people will guide you that setting up your own business in the UK is quick and easy, and cheap as well, it is not all that easy if you do not approach your idea in a strategic manner. Living in the UK can be tough and challenging, especially if you are out of work. Moreover, applying for a job in this tough economy can be another challenge that will add to the pressure. Do you know that around 76% of the five million registered businesses in the UK are owned and operated by one individual, i.e. the owner?
It is better to get some assistance before you put all your hard earned money into the business. Hiring a business plan writer UK can help you out in the planning phase, and can also assist you with your financing needs. When starting a business in the UK, here are 13 things you should take care of:
Write up a business plan or get someone’s help
It all starts with a business plan that can help you think about your proposed business, the products and services you wish to offer, the strategies you are going to apply to run your business, whether you are going to import or use local products, are you going to employ someone, do you need finance to invest in your business or you have enough savings etc. A business plan writer UK can help you draw a draft business plan to make it clearer.
You need to inform HMRC that you are becoming self employed
You can do this over the phone or even online. You may also benefit from HMRC’s online training that is offered free of cost. It will educate you on bookkeeping, records, completing and filing your tax returns, and what measures to take if you are employing someone.
You need to arrange for an insurance cover.
This depends on the nature of your business and how you run things. The AXA Business Insurance Wizard can advise you on which insurance you need to consider. Specialist brokers are often able to arrange huge discounts for their members.
Choose a name for your business
Your business name is your identity so think carefully. However, do not invest in branding or print materials until you are sure.
Set-up a bank account in the name of your business
You need a business bank account if you are a company, but it is only recommended that you have a separate account if you are operating as a sole trader. In any case, you must keep your accounts clear.
Make sure you are compliant
You need to comply with all rules and regulations relating to licensing, health and safety, data etc. Gov.uk offers amazing tools to help you get this done with minimum hassle.
Start keeping records for everything
Appoint an accountant if you are not that good with accounting. Keep a simple accounting system and record all sales and expenses as a minimum requirement for running your business.
You can visit www.businessplanwriters.co.uk for more information or book a consultation with them. They are one of the oldest and most experienced business plan writer UK, who can help you draft a solid business plan that will work in your favor.