matched betting banner
Every page on this website has affiliate links & ads - click for info


Starting a new business? Use this checklist!

Posted on

Starting a new business checklist

Starting a new business gives you the opportunity to chase your entrepreneurial dreams and work on a project that you are genuinely passionate about.

In fact, there are many reasons as to why you may wish to set up your own company. This includes:

  • Increased financial security
  • Greater professional freedom
  • The opportunity to make a real difference to a specific industry/customer base
  • The chance to try something new and challenge yourself
  • Opportunities for personal and professional development you would not get at your previous place of employment 
  • Flexible working hours/schedule 
  • The chance to do something you truly love

However, running a company, even a relatively small one, is not easy. There are many things you have to contend with every day, from unexpected costs to disgruntled customers, and success is not always guaranteed.

Despite that, there are certain things you can do to set yourself on the right foot.

So, with that in mind, here is a checklist of things you should do before launching your company to give yourself a head start. 

Starting a business checklist

❑ Come up with a catchy, memorable name for your company/brand. Make sure it is reflective of the product you sell, or the services you offer. 

❑ Register your business with HMRC online. This will help you later when it comes to paying taxes and keeping on top of payments. (There is a £1000 gross trading allowance which you can earn before registering.  Find out more information here.)

❑ Ensure that you have the appropriate insurance to protect yourself and your employees. For example, if you run a building or construction company, you will need public liability insurance. This is used to protect you in the unlikely incident that a visitor suffers an injury or damage to their property as a result of your work. You can obtain industry-leading public liability insurance online, from companies such as Rhino Trade Insurance. 

❑ If you are launching a particular product, participate in market research before the official product launch. This will allow you to fix any mistakes and will give you a clearer picture of your target audience. 

❑ Build a website for your company. This should include images and product descriptions and a link to an online store. Be sure to include an ‘About’ page that explains your reasoning behind founding the company - this helps you build a relationship with your customers. 

❑ Focus on developing a social media presence, by setting up accounts on popular channels such as Facebook, Twitter and Instagram. These platforms could be instrumental in your success and connect you with customers across the globe in just a few clicks of a button - so do not underestimate how useful they can be. 

❑ Set up a designated workspace in your home. This does not necessarily have to be a separate room, but an area where you can work comfortably without distraction. Ideally, your office should not be in your bedroom. 

❑ Write down a list of things you want to achieve by the end of the year, and display it somewhere you will see often. This will help you remain focused and give you something to work towards each day. 

make money at home lebara refer a friend  

For more information about setting up a business, serlf-employment and working from home, check out these articles:

Social good: how to create a small business that gives back

6 handy tax tips for bloggers

Running a home based business tips

How to deal with unpaid invoices when self-employed

How to be tax ready when self employed

Top bookkeeping tips

3 important things to consider when starting a self-employed business

The ultimate marketing strategy to give your business a boost

6 ways being online can improve your small business

7 tips for a successful small business

Be tax ready for your self-assessment with these tips for the self-employed!

Easy ways to attract more people to your small business

Guide to start-up success for women entrepreneurs

Is your home really the right location for your business?

44 ways to market your small business

Ways to cut costs in your business

6 cheap ways to market your small business

The first 5 things a twitter business should do

5 essential steps to starting your own at-home business

How blogger + influencer marketing benefits your business

How to take card payments in a mobile business

Reasons why people love to support micro businesses on Etsy

7 things to do when starting your own business

Why digital marketing skills are essential today 

How small businesses can use the internet effectively

Why your small business needs an online presence

Everything you need to stay organised and productive as a professional blogger

Benefits of automation for your small business

How to make money selling on Amazon

Quick guide to income protection insurance

How to pair with your entrepreneurial dreams

5 ways to make your office space more eco-friendly

10 innovative ways to save money within your business

How to create an eco-friendly and money saving home office

Financial security: things to consider before becoming self-employed