Setting Up A Small Business In The UK

DID YOU KNOW?

Small businesses account for 99.3 percent of all businesses in the country’s private sector.

Starting a business in the UK is fairly easy if you have the insight and finances to get your idea off the ground.

If you take the city of London, only so percent of companies were able to survive in their first three years.

This sheds light on the survival rate of small businesses in the UK, which emphasizes the need to ensure reliable backups, financial earnings and planning.

Business Idea

Your business idea should be valid and must be around an idea that is doable.

Before you even think about turning your business plan into a reality, think clearly about why you’re doing it.

Ensuring that your idea is unique and not something that has already been done before is important.

Legal Inquiries

Especially if you’re in the UK on a visa, you’ll need to find out whether you’re legally allowed to start a business in the UK.

Once you’ve come up with a business plan, you’ll need to have your visa upgraded to the necessary visa and permit that’ll allow you to handle your plan without a hitch.

Business Structure

Independently run, partner or limited?

Online or brick and mortar?

Knowing your business type before you go forward is essential for your success.

Setting Up Your Business

As a sole trader, you can register your business under your own name for tax purposes with the HM Revenue and Customs department.

Never approach any business-related endeavor without professional legal assistance!

For all legal matters including business visas in the UK, commercial leases and more,

Reach Out To

Wembley Solicitors