Starting a business has been your long-held dream, but realising the dream may be the toughest barrier yet to overcome. So where do you start?
When starting a new business there are a number of factors to consider to ensure the best chance of success:
What to call your business, what sort of structure it will have, how you are going to run it, how you are going to attract customers, where will you find the money for the setting up costs? These are just a few of the things to consider as well as your product or service
Choosing a Name
Choosing a name is important for your business as it should create a good first impression for customers and also provide a great foundation for building your brand. Some things to consider when choosing name:
Spelling – Sometimes people follow trends such as mis-spelling names, this could cause you difficulties when customers are trying to find you and may also affect your Search Engine Optimisation (SEO) i.e PHAT
Copyrights & Trademarks – Beware of using other company names trademarks logos and that your meets the requirements e3of Companies House
Web Address – is your name already an established website?
There are many types of structures such as Limited, Sole trader, Partnerships etc , it is important that you choose the correct legal structure when starting up, as this will affect things like the tax you pay, registration and reporting requirements, and your personal financial liability. For example if you decide to start a business in the construction industry you'll need to be part of the Construction Industry Scheme (CIS) for tax purposes.
Starting a business can be overwhelming, Ryboc recognise that business go through stages of growth, we don’t just provide support and advice, we get involved to ensure you have everything you need for starting up your business through to growing your business to the next stage.
Please visit www.ryboc.co.uk for more information
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