How to Start a Business in the UK

If you have a sound business plan and wish to follow your own path of success, the best way for you is to start a business. Countries like the UK serve as great business locations, where it is easy and convenient to start a new business.

Tips on How to Start a Business in the UK
Here are some tips to help you start a business in the UK:

• First decide what kind of business you want to start. If the idea of moving around does not suit you, home business would be the most suitable for you. It also has a lesser cost of establishment. Online business is also a good low-cost business.
• If you want to start a business that requires high capital, you may approach a bank or a financial institution for loans. For getting loans easily, you should draw up a sound business plan. This would help you in securing loans easily, and you can also bargain for repayment conditions in your own favour.
• There are a number of online and other magazines on entrepreneurship. Read them to get an inkling of the best and the latest business ideas. Also get yourself acquainted with the legal framework in the UK and other business-related acts, such as the Companies Act 2006.

How to Start a Business: Setting up a New Company
To start a business or a new company, follow these company registration steps:

• Choose an appropriate name for your company. Ensure that the company name reflects the nature of your business.
• Based on your business plan, choose an appropriate business structure. You can choose from private limited company, public limited company or private unlimited company.
• Appoint a secretary and directors for your company.
• Fill in the registration form provided by the Companies House.
• Mail the forms and relevant documents, with the registration fee to the Companies House.

Since the Companies House receives thousands of applications each month, you should be extremely careful about avoiding errors and mistakes. The most convenient way is to take the specialised help of company formation agents. A well-known agent in the UK who can make your task simpler is Company Formations 247. The agent will assist you in all aspects of starting a new business in the UK, which includes drafting your business plan, finding office space, and other official services and the entire registration process.