Federation for this type of business and association of that . . .when anyone in the UK wants to stat their own business, there are a few questions that must and should be asked before any funds or valuable time are spent . . . or wasted. It doesn’t really matter how big or small your company is, obviously it won’t be earning mega bucks in less than about 10 years so funding to operate successfullly in the meantime is something that has to be on the list. Making sure the company has clearly marked address and communications addresses and bank accounts set up. Insurance cover for all the operations to be carried out by the company is critical. Even if your new company is not actually going to supply physical goods, insurance for services rendered will also be essential if you are going to be trading away from your offices or if something breaks at a customer’s premises and someone gets hurt.
Of course, there are the not so inconsequential matters of tax and national insurance plus all sorts of commercial ‘good ideas’ such as advertising, promotional work, influencing platform and other social media considerations. On top of these few essentials is the membership of some sort of organisation such as a federation or association that is geared up to seriously support both small and medium business. The larger congomerates have their own smaller sized Institutes.
