Test the commercial case
Define the customer, the problem and why your offer is a credible alternative. Test willingness to pay before committing heavily to premises, stock or long contracts.
Choose how to trade
Sole trader, partnership and limited company structures have different legal, tax and administrative implications. Base the decision on your circumstances and take professional advice where needed.
Set up the essentials
Put banking, bookkeeping, insurance, contracts and data protection in place early. Simple systems are easier to maintain when transaction volumes grow.
- Register through official channels
- Keep evidence for income and expenses
- Track deadlines and cash commitments