5 Things to Consider When Setting Up a Business

Hey Everyone,

If you’re thinking about setting up your very own business and becoming your own boss, you’re probably feeling a mix of emotions, from excitement to anxiety. There’s so much to consider, which can be very overwhelming, so take a step back and try and enjoy the process. Don’t rush into anything before you’re ready! Here are five things to think about when getting started (in no particular order)

1. Finances

Start by registering your business with HMRC and track any of your expenses, including things like office furniture or any technology you’ll be using. Think about whether or not you need to invest any money in the business to get it started and, if so, do you have enough? You might have to take out a loan. If you’re not particularly numbers oriented, you might want to hire an account to help you out with this side of the business.

 2. Marketing

Of course, you can’t expect your potential customers to know you exist if you don’t market your company. There are so many different types of marketing, from promotional merchandise to billboards or flyers, so be sure to try a few different options until you find something that sticks. There are many franchise business options to choose from, its worth doing your research and looking around. You can find franchise for sale here.

3. Staff

Will you need to hire staff, or can you operate as a one-man-band for the time being? If you do need staff, think about what sort of qualifications they might need, if any, and perhaps offer training as part of their employment package. Perhaps outsourcing some work will suffice in the early days until you’re big enough to afford employees. Alternatively, you might need to outsource because you simply do not have the time or skillset to do a proper job of a task. For example, those who own healthcare businesses will need to make sure that these are regularly cleaned to a much higher level of detail than a more standard workplace, which takes up a significant amount of time.  Therefore, bringing someone like this company offering medical office cleaning in Salem, OR could give business owners peace of mind that the job will be done regularly and to the standards required. These days, virtually every task can be outsourced in some way so, as the business owner, it’s up to you to decide where your skills are going to be the most useful and then consider the areas that could be outsourced to help yourself and any staff you have work the most productively. Should you ever wish to close your business, it will become a dormant company which you can read more about here -> dormant company companies house. It essentially means you are no longer trading, if you want to start up again though – you’ll need to go through all the processes again.

4. Website

In today’s day and age, a fully-optimised website is an absolute must. Basically, this means that you need a website that looks great on all types of devices, from desktops to smartphones, and has relevant content and other features to ensure that people will find it in the search engines. If you’re not clued up on web design, you may have to contact an agency or find a freelancer online who can help!

5. Location

Where are you going to operate your new company? Do you have a home office, or will you need to hire out a space? Perhaps your company will require a shop or restaurant, in which case you’ll want to assess the area for footfall, to find out whether or not it’s a popular spot. If not, it’s worth looking elsewhere.

Laura x