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Various steps are involved:
Selecting your business name
You will need to check if the name is available by searching on the Companies House name availability checker.
Check the UK Intellectual Property Office’s Trade Marks Register to confirm that the proposed name doesn’t infringe any existing trade mark.
These searches are a quick way to check that your proposed name is not already registered and may protect you from potential name infringement issues in future.
Deciding on structure
The business structure you choose will ultimately involve weighing advantages and disadvantages of each, and then deciding on which suits you best. The structure you opt for is important as it will affect the amount of tax you and/or your business will pay, as well as eligibility for tax relief and grants.
Thinking about this, and planning which structure is best for you, will save you time and money in future as your business grows.
Read What you need to set up a business for further information.
Yes! The very first thing you should do when you want to put the idea in your head of running a business is to sit down and write a detailed Business plan. Not only will it help you to achieve your long term goal – but it will help you:
For more on the topic, read Anatomy of a business plan.
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