Start UpChecklist

There are several things to consider when starting your own business including the following list:

• Analyse your character, skills and ability
• Discuss your plans with your family and get their support
• Calculate how much money you will need for the business and for you to survive, you may need to apply for a bank loan
• Will you need specialist training in order for you to make the business work?
• Carry out detailed market research in order to assess your market potential
• Consider registering a Patent, Design or Trademark to protect your product or brand
• Research your business name and make sure that it legal
• Apply for any necessary Planning Permission, Special Licenses
• Register for VAT (if appropriate)
• Identify your suppliers, pricing strategy and company policies
• Notify the Inland Revenue that you are now your own boss as failure to do so within three months could result in a fine.
• Allow around 3 months for the Start Up process if possible.
• If working from home advise the Council, Mortgage Lender, or Landlord.
• Upgrade your car/house insurance to cover Business use and if working from home advise the Council, Mortgage Lender or Landlord