How to Start a Small Business: UK Company Registration and Website Launch
You may have an idea for a business and you want to start it as quickly as possible. One of the first things you will need to do is register your company in the UK.
This article will take you through what that entails, including registering with Companies House and getting a UK Business bank account set up.
Once your company is registered, we’ll also show you how to get your website up and running so that potential customers can find you online!
Why Start a Small Business?
There are many reasons to start a small business. Perhaps you want more control over your life and working hours, or you have a specific skill or product that you want to share with the world. Whatever your motivation, starting your own small business is a great way to achieve personal and financial freedom.
Of course, there are some challenges involved. Running a business is hard work and can be stressful, but it’s also rewarding and worthwhile. You are setting up your own company so you will want to make sure that the name you choose for your small business has an impact on potential customers as well as future employees who might consider working with or for you in the future.
Writing a Business Plan
The first step in starting any business is to write a business plan. This document will outline your goals, strategies, and how you plan on achieving them. It’s important to be realistic when writing your business plan – don’t set yourself up for failure by expecting too much too soon!
Your business plan should include the following sections:
- Executive summary: a brief overview of your business including what it does, who its target market is, and how much money you plan on making
- Business description: a more detailed explanation of your company, what it sells/offers, and how it plans to make money
- Marketing strategy: how will you reach your target market and convince them to buy from you?
- Financial plan: how much money do you need to start your business and how will you make a profit?
Registering Your Company
Once you have written your business plan, the next step is registering your company. This can be done at Companies House, which is responsible for issuing companies with their unique company number (known as a ‘unique entity identifier’).
There are two ways to register your company: online or by post. Online registration is the quickest and easiest way, but you will need to have all of your company information ready beforehand. If you choose to register by post, you can download a form from the Companies House website and send it in with your payment.
To register your company, you will need to provide the following information:
- The name of your company
- Your registered address
- The type of company you are registering (limited company, private limited company etc.)
- The date the company was formed
- Details of the people involved with the company (such as directors, shareholders and secretaries)
- Information about share capital or subscription money: how much your target market is investing in their business?
- Details of any charge(s)/debt that you have incurred (£500+). For example, if you are borrowing £5000 to start your business this will need to be disclosed
Once your company is registered, you will need to open a business bank account. This account will be used to deposit money from sales and pay bills etc. There are many different banks that offer business accounts, so shop around until you find one that suits your needs.
Setting Up Your Website
Now that your company is officially registered, it’s time to set up your website! This is a great way to promote your business and attract new customers.
There are many different ways to set up a website, but we recommend using a professional web design company. This will ensure that your website looks great and functions correctly.
Your website should include the following information:
- Your company name and registered address
- A description of your business
- Products or services you offer
- How to contact you (phone number, email address etc.)
- Information about any discounts or special offers you are running
- The ability to make online payments
Launching Your Business
Now that all the hard work is done, it’s time to launch your business! Make sure you tell your friends and family about your new venture and ask them to spread the word.
You should also consider advertising your business online and in local newspapers/magazines. This will help to reach a wider audience and boost sales.
Finally, make sure you keep track of your sales and expenses. Keep receipts for every purchase you make, including stock items!
If possible, try to start a small business with family or friends – this means that there is less pressure if the company doesn’t immediately succeed. If things go well from the start though, then it’s often worth expanding your business by hiring new staff members. good luck!
There you have it – everything you need to know about starting a small business in the UK. We hope you found this information helpful and wish you all the best of luck with your new venture!