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Checklist for Starting a Business of Your Own




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Category: Business Planning

Tags: business check list, business start up to do list, business startup checklist

Recommended Next: Are you Ready to Become a Business Owner?

If you are interested in starting a new business, you will have to ensure that you focus on the right steps to get it operational. Take the time to consider the factors highlighted below to ensure that you have everything in place to make the journey to opening your doors to customers easier.

The Business Idea

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To start a new business, you will need to have a business idea. At this initial stage, you don’t just want an idea that promises only to be profitable; you want one that can be successful at your location and with your given skills. Starting out a business involves being committed for an extended period of time. It is therefore important that you ensure that you take the time to assess what you can be able to do on a daily basis and remain committed while still having the potential to turn a profit.

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To ensure that you business plan is viable; you will need to test it before moving forward. This entails conducting an analysis of the idea. Define the problem the idea solves, define the target market and then conduct market analysis.

Funding

Without the necessary funding, your business idea will remain as such, simply an idea. Although not all business ideas require funding, it is important to note that most do. This is especially true in the initial stages of running the business. You will find it easier to secure funding if you have a detailed plan on how the business will look like. A business plan, whether short or detailed, will help you put down vital information about management and performance estimates.

Registration and Licensing

Before you can open a business and start trading, you will have to follow the necessary legal regulations. Get the business registered as per the relevant regulations. This includes getting a registered business name as well as obtaining licenses from the relevant authorities. Trademarks and copyrights will also have to be registered as well to provide the necessary value under protection.

Get Started

Once you have a registered business, a location and are ready to go you can set up and open your doors for trading. Put in place hiring operations and start recruiting any employees needed. It is also time to decide trading methods, whether cash or credit. Lastly you will need to deploy the necessary systems automated or not to get things going.

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Need funding for your business?
Learn how you can get funding for your small business in the UK. It takes 30 seconds.

Membership to the Portal

Recommended

CBILS: Coronavirus Business Interruption Loan Scheme
25Mar2020


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Most Popular

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05May2020
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Don’t miss a thing!

Stay up-to-date with weekly recaps of news and tips for UK Startups.

Testimonials

2018 Government Funding
2018 Government Funding Success Story Interview
Leeds, England

"A business plan is the key to a successful business as well as the way to get government funding" - Read my story

Cambridge Tech Company Gets Funding
Interview with a £65,485 Government Grant Recipient from Cambridge
Cambridge, East England

"Perfect your business plan as it's in my option the number one thing small businesses need in order to attract and impress a funding agency" - Read my story

cleaning company monitoring technology
£17,500 Small Business Loan for Birmingham Startup
Birmingham, West Midlands

"If you have a business idea, don't wait - get your business plan made, ask for help and start your funding search early!" - Read my story

government grant for cleaning business in Bangor, Wales
£30,250 Government Grant Helped Me Start My Business
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"We were denied funding and we could have given up so many times. But we didn't. The important part is not to give up and keep gong. Get a support team to help you" - Read my story
Toronto Retailer Gets Government Loan
£470,000 Low Interest Government Loan For City of London Retailer
City of London, England
"Banks said no to due to my poor credit and business inexperience, but the government funding programme had a different reaction to my well developed business plan" - Read my story
doggy day care
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Nottingham, East Midlands
"No matter your situation, if your plan is to start a small business - don't give up. Use tools and resources that are available all around you and don't be scare of a small investment" - Read my story
Birmingham business starts up with government grant
Birmingham, West Midlands Small Business Starts Up With £75,000 Government Grant
Birmingham, West Midlands
"If you believe in your business don't let anybody stand in the way. True passion will get you far, but knowing that the government can help you get funded helps a lot." - Read my story
Bristol Government Grant Recipient
Interview with a £132,000 Government Grant Recipient from Bristol, South West
Bristol, South West
"Don't give up. If you have an idea, go and do it. Create your business plan, go present you idea to investors/government agencies and get what you want." - Read my story

Latest

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Search Articles

Categories

  • Blog
  • Business Advice
  • Business List
  • Business Planning
  • Business Type
  • Centre
  • England
  • Free Downloads
  • Funding & Financing
  • Locations
  • News
  • Northern Ireland
  • Q&A's
  • Recommended Reads
  • Sam's Corner
  • Scotland
  • Tools & Resources
  • Uncategorized
  • Wales
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