Setting up a Successful Startup

If you want to make sure that your start-up phase is as easy and as stress-free as possible, then you have come to the right place. This guide will show you what steps you can take to not only get the result you need, but also to make sure that you don’t make some of the many mistakes that so many others do.

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Registering your Company

When you have decided on the type of company you want to start, the next thing you need to do is try and register it. You need to make sure that you use technology to streamline the process, as this will make your life a lot easier. It’s also important to get every detail right. If you decide to opt for a sole trader or even a partnership structure, then you may find that you have to tell your local tax body that you are handling your own obligations. This can be done through self-assessment, but at the end of the day, you should still make sure that you don’t forget to register your business name. Even if you sign up for tax, you should make sure that you don’t forget to do this, as doing one doesn’t automatically mean the other is done for you. You will have to send your details to Companies House, and you will also need to inform them of any changes, including a change to your address or even a change to your directorship. Regular updates are even more important now because, as time goes on, regulations will tighten, and you may find yourself having to take even more steps to ensure everything is correct.

Protect your Brand

Another thing you need to do is try and protect your brand. Your brand is one of the most important aspects of your start-up, and in today’s competitive environment, it’s so important that you try and make sure that you not only build a strong brand, but that you also try to safeguard it against people who might be trying to use your identity. As a start-up, you also need to try and make sure that you are aware of how to protect your intellectual property. There are a few strategies you can use to try and make this happen, too. First of all, you can look into getting a non-disclosure agreement. You can use this during negotiations, and you can also use it during discussions. Trademarks are also useful. When your brand ideas are fully finalised, you may find that it is easier for you to get exclusive rights to your brand name. 

Payments

As a start-up, you also need to give some thought to how you are going to manage payments as well as the risk involved with them. One of the best things you can do is look into payment risk management solutions here. When you do, you will find it easier to not only make sure that you’re getting paid on time, but that you are also taking steps to try and maximize your profits. Things like this can make a major difference to you, and they can also help you to run your business with more confidence.

Managing your Team

Another thing you need to do, if you run a small business, is to try and manage your team more efficiently. Employers have to make sure that they are meeting the right obligations, and they also have to meet the national minimum wage. If you’re not sure how to do this, then you should also take the time to look into salary as well as work entitlements. It’s very easy for you to overlook things like this when you run a business, but if you can take your time to go through everything now, then this will save you a lot of reputational damage at a later date.

Remember, you also have to make sure that you meet your obligations in regards to interns. If your interns are doing work that is similar to that of your employees, then you need to make sure that you are compensating them for this, and you also need to make sure that you determine the scope of their internship, too. If you can do this, then you will find that it is easier for you to get the tasks you need done without overlooking the hard work everyone is putting in. Of course, having someone in HR manage this for you can also be beneficial, so try and keep this in mind.