Starting your own business

Posted on:August 13, 2020

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Over the last few years more and more people have looked into starting their own businesses and with the current pandemic resulting in a number of job cuts across numerous different sectors, it is thought more people will become self employed.

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If you are thinking of starting your own business there are a number of things that you will want to consider.

Structure – how are you going to establish your business? You should think about whether you are going to be a sole trader or set up a limited company. The decision that you make will depend very much on the type of business that you create and what your future plans are. An accountant can give you more advice on the structure that may be best for you and your business.

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Funding – is your business going to self funding, do you need to put some money in at the start or are you going to apply for funding? You will need to clearly define your business offering and have a business plan in place if you are thinking of seeking funding.

Office space – are you going to use office space or working from home? If you plan on having an office either from the start or at some point in the future you will need to consider the furniture items that you will need. This will include Reception Chairs for your visitors to sit on, desks and chairs for your employees and furniture for any meeting rooms that you have. Chairs for receptions can then be decorated with cushions that have your business logo on them to bring some of your business branding into this area.