Nockolds: Starting a business – what you need to know

So you are thinking of starting your own business – how exciting! Before you start living the dream here a few of the legalities to consider and get you started on the right foot:

  1. Decide on the legal structure of your business – once you know what you want your business to do, you need to think about the way in which it is going to operate. There are a number of different options available such as sole trader, partnership, limited company etc.
  2. Choose a name – almost as much of a big decision as what your business will do! You will want to make sure that there is not already a company with the same name registered at Companies House or as a trademark.
  3. Think about whether there are any legal requirements – depending on the type of business you are going to operate there may be restrictions on what you can and can’t do and certain information that you will need to provide to customers or clients.
  4. Taking on staff – once you get your business off the ground you might find that you need some extra help. There are various ways people could undertake work such as on a self employed basis, as a zero hour worker or as an employee. Each category of employment has its own rules and requirements and different contractual documentation that will need to be issued. You may also need to set up a workplace pension depending on the way in which staff are employed to work for you.
  5. Check what insurance you need – you may need public liability insurance, employers liability and business use insurance if you are using a vehicle.

We will be discussing these considerations and more at our seminar “The Legal Basics Workshop for Running a Small Business” on 28 November 2017 at the City Business Library from 10.30-12.30pm including a Q and A session for all your burning questions. Find out more and book your place


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