Tips for setting up your small business, part 1

Tips for setting up your small business, part 1

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While Zoek job search usually caters for the traditional employee/employer relationship, we do see searches for non-traditional jobs - dog-walkers being one such job search. But what if you're thinking of taking the plunge and going full-time with your own business idea? Here are a couple of aspects to consider.

Company Registration

It's never been cheaper to set-up a limited company - online registration with digital documents can cost as as little as £10. The hardest part is the name - and the key point for this may well be the availability of a matching domain name.

All the major domain registration companies allow search for specific domain names, but perhaps you'll need to go with an obscure extension to get the domain you want. Or a combination of top-level domains and part of the URL - for instance ideally you'd like mynewcompany.com, but if it's gone how about mynew.co/mpany ?

Try searching https://instantdomainsearch.com/ http://www.namemesh.com/ https://domainr.com/ for inspiration.

And if you set up your company in advance of actual trading, you will need to tell HMRC your company is dormant.

Business bank account

It's tempting to drag your feet on this, or even use an existing one. Don't. It's never been easier or cheaper to set-up a business account. So get the ball rolling and start the process as soon as possible - the paperwork will take around a month, so make a start as soon as you can. All the major UK banks offer free-setup and generally free for the first 18 months of banking.

Marketing

What ever the nature of your new business, you're still a 'start-up'. Make the most of it - check out the many sites there are for startups. There'll be tip & insights, and possible a directory where you can register your business (it may not be your target audience but it could be a link and every bit of exposure counts). And several sites offer free trials or special deals on what may be useful cloud services, https://startupxplore.com/en being one example.

Also look around for one of those Adwords or Bing vouchers so you can test the waters with Pay Per Click advertising. It can be quite daunting when you're deep in the Adwords machine, but (and naturally) Google make it easy to set up a new ad campaign. Give it a try - just be sure to set your daily budget to an amount you're comfortable with.