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Business Setup Checklist

How to setup a business: 10 things that will ensure your business starts as smooth as possible

 

10 step Business start-up checklist ✅

As with a lot of things in life, getting started in business can be the hardest part. You may have a great idea for an innovative new company, but aren’t sure how to go about setting up and how to get started. From market research and idea generation, to marketing, hiring staff and of course, the legal stuff, there’s a lot to think about. We’ve broken down some of the main steps into 10 simple tasks.  

Do your research

As the saying goes, there’s no such thing as an original idea. This in mind, conducting good, thorough market research is crucial when starting a new business. It can help you to stand out from competitors, understand your potential customers needs and find a hole in the market that makes you truly unique.  This is called a USP (Unique Selling Point).

A great idea!

When developing your idea, consider what drives you to want to start this business. Is it a hobby you want to turn into a career, a niche that you’re interested in, or something else that you’re passionate about? Knowing your motivation is a key step for success for any start-up and will help you to come up with an idea that will stand the test of time.  

It's all about the plan 📅

Plan ahead

Once you’ve got a solid idea, the next step is to create a business plan. Use your research to think about who will be your customer base and how you’ll reach them, and what you need to get started. It’s also good practice to develop an exit strategy, just in case, and to consider any potential difficulties your business could face. 

Where will you be?

This will depend on what type of business you’re starting. Do you need a shop, restaurant space and kitchen, office space or will you be working from home? There’s a rising trend in shared workspaces, maybe that’s what you’re looking for? Consider your options and look around as much as possible before deciding. 

HMRC

When you’re ready to declare your business, you’ll need to choose a legal structure. This will affect your tax, business growth and more. Consider whether you’re a sole trader, partnership, limited company or limited liability company. As this can have a big effect on your company.

Are you insured?

Don’t forget this step! As much as we plan ahead, life can throw unexpected things our way. Ensure you’re ensured for things such as property damage, theft, or even customer lawsuits. If you’re hiring employees, make sure you’re insured for everything you need to be for them too.   

Make sure to have fun! 🎉

Financing your business

Of course, starting any new business can be costly, so you have to think about how you will finance it. Do you have savings in place, or will you need to take out a loan, grant or speak to external investors? Depending on your business and audience, you could even consider looking into Crowdfunding.  

Get online

In the modern world of business, and depending on your target audience, it’s a huge benefit to have an online presence. Whether you sell online through a website, use social media to connect with your customers, or just have a Google listing with basic information only, they can all help boost business awareness and engagement dramatically.

Defining your brand

There’s a lot to consider when thinking about your branding. From a memorable and individual business name, to logo design, website, promotional materials, signage and so much more. Check out our guide on understanding your branding to learn more. 

Have fun!

How to setup a business: To get started, download, print and follow our simplified checklist then get in touch with us if you’d like any more information, advice or support on setting up your brand-new business. Good luck!

Preview image of 10 Step Startup Checklist Template

Download our simple ''10 Step Startup Checklist'' today!

How to setup a business: To get started, download, print and follow our simplified checklist then get in touch with us if you’d like any more information, advice or support on setting up your brand-new business. Good luck!