When starting out in business the idea is only the start. You then need to look at all of the areas that are essential to help make that idea come to fruition and make your business become profitable.
Where do you begin? Well there is a wealth of help out there and you really need to wade through, do your research; decide what is useful to you.
There are websites like this one that will give you the information, advice and help you need for a specific price. However from my own experience going through the process on my own gave me far more awareness and confidence to know what I wanted. Therefore this site gives you information on where to go for help to set you up and websites that may be useful for the process. You must still do your research and use due diligence to ensure that any decisions you make are the right ones for you.
First you need to have banking facilities and most high street banks do have small business managers who can give advice. Look at as many options as possible to find the right one for you. A couple worth looking at are Barclays and Natwest
www.barclays.co.uk/seminars/startinginbusiness
NatWest Business Knowledge seminars
Other places that are useful to look at for business start-ups are the local enterprise agency (the national enterprise network) , Business Link (which is a free Government run advice service for people setting up their own business- but which is currently under threat since the new Government came to Power, so its future is unsure!), the Small Business.co.uk and Business Zone. These all offer great advice and links to various sources you wouldn't necessarily think of
Obviously you will need advice from professionals for all aspects of setting up your business. So as well as the organizations above you will need to consider taking on an accountant to help with tax, VAT, allowances etc. Try getting information about different accountants in your area from friends, relations and colleagues as they are best placed to recommend someone they use.I use Brendan O'Reilly at Langard www.liffordhall.co.uk. It is important to feel comfortable with someone who is sorting out this area of your business life for you.
You will need to think of a name for your business (and website if you choose to go this way). Another decision to make is what kind of company you are setting up.
If you are only thinking about working on your own in a small local area then possibly being a sole trader is the way forward. This would then mean making yourself self employed, which is relatively easy to do by getting in touch with your local tax office who will send the relevant forms to complete.
Alternatively you may want to make your new business a limited company which will then need to be registered at Companies House: a worthwhile task as this will go someway towards protecting you and your business name from fraud.
Further protection can be had by also registering your Intellectual Property rights with the Intellectual Property Office. Click on the link and see if you would need to go down this route.
A really important part of the start-up process is the business plan. Potential investors will want to see this and decide from the information there whether you have considered all aspects of the future of your business.
An organization which is really useful is Business Link.On their website you can find an excellent guide to producing your business plan- and it's free!
(In fact this site is full of very useful advice for all aspects of running your business. Mark it in your favourites box!)
A domain name for your business can be registered and then rented for an annual premium from a domain company. They will automatically check for available domain names and suggest alternatives, if the one you have thought of has already been used. Ones to consider are 1&1 Internet Ltd and 123-reg
The domain companies can also offer you a hosting service for an annual premium. This is also offered by website design companies, so if you choose a web designer who also offers this service it may be cheaper!
Research has shown that only 46% of businesses have their own website and yet in this technological age where more and more people use the internet it is something to consider.
If you are able to create your site yourself then this may save a lot of money. However, this is not always the most professional way so it may be better to use the services of a web designer.
If you havn’t got a designer in mind get in touch with Approved Website Designers who will give you a list of some of the designers in your area. Alternatively ask around and find out who designed websites for friends/neighbours or look at the bottom of web pages on websites that you like and find the creator of them listed there.
www.ApprovedWebSiteDesigners.co.uk
If you are selling a product or service through your website you may want to consider using a payment site to facilitate the process. Paypal and RBS WorldPay are two (or you could use banks but they are usually a costlier alternative.)
Paypal has two options, both of which are free to set up .Costs are incurred when a transaction is made and this is usually a percentage of the payment plus a small charge.
Option one with them is for your customer to be directed to Paypal in order to make a payment. The second option is where you have a payment facility for Paypal on your own website(Paypal Pro)These have no set up costs and are easy to implement.
RBS WorldPay is part of the Royal Bank of Scotland group.Used Worldwide but maybe slightly more complicated to use
There is no benefit in having a great company but not advertising it to the world. If no one knows you are there , then you will not attract the business. There are ways of doing this without incurring huge costs and there are also lots of people giving good advice on how to go about it.
Have a look at Enterprise Nation where Emma Jones runs a fabulous home website which is the epitome of great PR and self advertising- in the best way possible!
Also if you have your website up and running there are websites where you can advertise for free. Check out the following which you may or may not use:
Ongoing Marketing