Small Business Advice.

Contained on this page are a few web resources and tips for sole traders and other small business workers. 
Small Business Tips.

A few web resources and tips for sole traders and other small business workers. 
1) Company or Business Registration
1) Company or Business Registration
UK Tax rates overview
Registering a business as a "limited company" (Ltd, at 'Companies House')

If you are in a line of work where it is possible you might be held financially liable owing to company activities, then it is a good idea to convert a sole trading business into a limited company. The reason is that the law will then only hold damages against your company, rather than against you personally. 

Business Address Services

All UK businesses must have a way to contact you at your 'business premesis'. For as little as £20 a year  you can provide a mail forwarding address instead of your home address.

PO-BOX. 

Registering a PO-BOX may be preferable to using a home address. Some are set up to accept a lot of incoming parcels or mail and you pay only for the number of days x parcels. It will depend where you live what services are available. 

2) UK Regulatory Bodies: Varies by professions.

Double-check you are allowed to practice a given profession if a sole trader: Many trade descriptions are protected, e.g., therapist is protected but coach is not.
2) UK Regulatory Bodies: Varies by professions.

It's worth to double check you are actually allowed to practice a given profession if a sole trader: Many trade descriptions are protected. e.g. 'therapist' is protected but 'coach' is not.
 
Regulations for business practice varies whether it is online only, involves physically meeting customers or clients, involves premeses or not, and so on. Some are set by national bodies and some are set by local county councils. Some jobs require a particular license to operate while others will only require a certificate.  Gaining either can involve 100s of hours of time and £1000s in costs.
3) Settle on branding early as it has many knock-ons.
3) Settle on branding v.v. early as it has so many knock ons.
UK Trademarks Website 


A UK wide trademark may cost anywhere from around £400 to £1000s. 

Every media aspect of your business depends on the name you choose: Emails, business cards, letter heads, spray paint on vans, social media account names, Ltd. company name, trademarks.
4) Make tax records as easy as possible to keep.
4) Make tax records as easy as possible to keep.
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Remember that HMRC only requires to see your business bank accounts in normal circumstances, rather than your personal bank account. Keeping finances separated between personal and business accounts will greatly simplify your accountant's job, e.g., to decide between 'personal expenses' and 'business expenses'.  Some banks offer a guaranteed accepted business bank account for as little as £69/year, which will still satisfy all the legal requirements for a business bank account. 
5) Review Your Software because it can become so time consuming.
5) Review Your Software because it can become so time consuming.
Browse the Software guide. It might help to identify ways to trim your systems down to save you cash or time. It is not always economical to use a free resource as sometimes it really is true the professional versions are the best investments, but many free resources are very good. 
6) Online and 'Live' businesses.
6) Online and 'Live' businesses.
If your business has a lot of online activity, such as with e-Commerce or social media brand marketing, or posting a lot of updates in some way, consider getting a social media management app very early on.
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7) Get a good routine (daily, weekly, monthly)
7) Get a good routine (daily, weekly, monthly)
One of the really big difficulties in self-employed is figuring out when exactly to switch off. Find friends or family who have a good sense of routine including breaks and down-time, whether for meals, weekend relaxing, or in any other way.

Good luck!