Posted On: Wed, 12/26/2018 - 10:40

Guide to starting a business

Starting a business is probably the best thing you can ever do with your life. Besides having a team to do all the heavy lifting, you’ll finally afford that luxury car and also have enough resources to become an investor – if you get it right.

And today we are letting you in on the top five things your business needs to get off the ground.

1. Create a business plan 
For you to thrive in business, you need to get numbers right from the very beginning. And that’s what a business plan is all about. Think of it as a business blueprint that insulates you from losses and debt. With it, you’ll have a better chance of securing funding, attracting more investors and also staying on course.

2. Let HMRC know you are starting a business
The next step after choosing a suitable name and writing a well-thought-out business plan is signing up with HMRC. You can do this online or on the phone, and it will get you started as a sole-trader. They also offer free training that pretty much covers everything you need to know about record keeping, filing taxes, and onboarding clients.

3. Start your business in a virtual office
It’s no secret that most people trust companies with an address on their website or business card. And the last thing any entrepreneur would want is having their home address exposed to the public. So using a virtual office seems like the best option for people on a budget.

That’s where we come in. Here at Number 8, we specialise in serviced offices, company addresses, and virtual offices. Our plans start from as little as £99.99 + VAT annually for a virtual office. And we might require proof of ID to avoid getting into a money laundering mess.

4. Create an online presence and brand 
In the age of the internet and social media, you don’t have a choice other than building an online presence or remaining on the sidelines. But that does not give you a ticket to slap content together on an overused website template and hope for the best.

The site needs to be professionally done. That includes being mobile-friendly, beautiful and, most importantly, having a decent loading speed. For all this, trust Matter of Software.

5. Keep running costs as low as possible
There are so many tools and services on the internet that can make your life as a business owner easier, but they all cost money. So the idea here is to avoid recurring costs and put in the hard work until the business starts making good sales.

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