Starting and growing your business

Advice for starting a business

Starting a business can be tough but rewarding. You should ensure that you do plenty of research before you start - some of the questions you may want to think about are:

  • what sort of business you’d like to start
  • whether people are interested in your product/service
  • how much you can charge for your product/service
  • whether you need to register with HM Revenue & Customs
  • whether you need to employ any staff

Step one - market research

Your first port of call should be the British Library Business & IP Centre (BIPC).

The library offers a range of face to face advice sessions as well as workshop and events to help you with everything from writing a perfect business plan, to funding advice.

They also have a number of business guides which you can get access to, free when visiting the BIPC.

Step two - information on starting up

Business Link in London offers information and guidance on starting a business.

Their website offers factsheets and information on many topics including:

  • choosing and setting up a legal structure
  • sales and marketing
  • understanding European markets
  • how to become and employer

Step three - finance, tax and national insurance

When you have completed your market research and are ready to start, you should inform HM Revenue & Customs (HMRC) to find out which records you should keep. HMRC run free workshops for the self-employed and these employing staff to explain the regulations.

For more information and some helpful factsheets please visit HMRC

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