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