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5 Tips For Legally Forming And Running A Business

25 March 2015

Forming and running a business is an exciting idea, but the legal side of business can be a daunting prospect. That’s why we’ve put together five tips that will help you on your way to legally forming and running a business. By avoiding making mistakes, you’ll save you and your business money and time and get the legal side of things out of the way, so you can focus on running your business.

Check your company name and register it

This is one of the first things you should do when forming a company. It’s a good idea to register your company as a limited company as it offers more protection than being a sole trader. It is a great idea to talk through these options with a business expert or accountant, as they will be able to explain the difference. Give us a call if you’d like to talk it through on 020 8232 5479.

Assuming you are going to register as a limited company, there are some important things to remember:

  • The company name must end with the word Limited or Ltd.
  • The company name must not be the same as, or similar to another already registered company name. You can check this here: https://blog.eformations.co.uk/
  • Your company name cannot contain any restricted or sensitive words.

If your idea is an original one, consider patenting and copyright

If you have a great original idea for a business, it’s reasonable to not want anyone else to steal your concept. If you are concerned that this may happen to you, it’s a great idea to look into patenting, copyright and even trade marking, which may help to protect your idea and give you the legal grounds needed to go after anyone who does attempt to steal your idea.

Before rushing into spending a lot of money on patenting an idea, it’s a good idea to find out what the patent is actually worth and how much it will protect you. A great way of finding this out is to ask the question ‘what would someone need to change in order to not break the patent?’ and you’ll have your answer. You may be surprised how easy it is to get around!

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Organise your finances

It’s a good idea to organise your business’ finances as soon as you start your business. This means less time searching for receipts and being bogged down in a mountain of paperwork later. Finding an accountant you like early on in business is a great idea.

You can also get organised using your mobile phone! We recently wrote an article on accounting apps that can help your business keep track of money. Read it here: https://blog.eformations.co.uk/2014/11/

Read up on employment law

If you’re going to be taking on employees in your new business, there is a lot you need to know in order to comply with the law. A great way of learning all you need to know about employment law is to sign up for a reputable short course, run by an expert. Alternatively, at the start, hire freelancers to avoid the paperwork and legislation associated with employing staff.

Seek professional advice

If you’re considering forming a company and a business, we can help you to get it right first time. From helping you to check whether or not your chosen name is available, to online company formation and much more, visit https://blog.eformations.co.uk/ to start your business today. Alternatively, call us on 020 8232 5479 for a friendly chat and discover how we can help your business today.

Is Your Business’ Success Being Eclipsed By Your Image?

16 March 2015

It definitely takes more than a great idea to form and run a successful business. But what if despite all the planning and testing the market you form your company, launch it, and it fails to do well? Then it’s time to take a step back from your business baby and consider what might be holding it back from success. With that in mind, we’ve put together a check list that will help you isolate areas where there may be room for improvement in your business. Often, these important areas which affect company image are overlooked, but their effect on a business can be enough to make or break it.

Is your brand unforgettable?

A strong brand will help your business be memorable and help build a relationship with your customers. When creating a brand, it’s a great idea to come up with some brand guidelines and rules that can help you make decisions about how your company is presented.

Here are some points it is important to cover when creating a brand:

  • Creating a logo
  • Your brand colours
  • Your brand fonts and typography
  • Your company’s ethos (some companies write a book on this topic!)
  • A great tagline
  • Mascots and spokespeople

Well-Known World Brand Logotypes

Does your business look credible?

The first step of making your business look credible is to form a limited company. A limited company protects your personal finances and also shows customers you are a legitimate business as opposed to a one person operation. You can form a company using our online company formation service. 

Another thing that could be holding you back is your business address. If you’re using your personal address, or if you aren’t convinced your current address reflects your business positively, a business address service can be a great way to present a more professional business image. You can find out more about our business address service here: https://blog.eformations.co.uk/address-service/

Are you marketing in the right places?

Sometimes, at the start of a business, it can be tempting to follow the crowd as far as advertising goes. While it is important to keep an eye on competitors and the channels they are using, they might not be getting great results. The best thing to do is to work out where your customers hangout – both in the real and digital worlds. A great way of doing this is by talking to them and learning their habits. Alternatively, there are lots of statistics available online that show which demographics are using different social media platforms. From this you should be able to work out the social media channels you should be spending time on, and those that are best left.

Do you need help making your business shine brighter?

At eformations, we’re here to help your business succeed. From an online company formation service, to a business address service and full company secretarial work and much more…. we can offer your business the tools it needs to move forwards. Feel free to call us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk/and discover how we can help you on your way to success.

 

5 Ways To Fix Pre-Company Formation Nerves

09 March 2015

Deciding to form a company is a big commitment and some pre-formation nerves are normal. If you’re still worrying about whether or not your business idea will be a success and need help feeling more confident, read on and discover five ways you can fix those pre-company formation nerves. These fixes will also help ensure that your business goes on to succeed in the long term!

Test The Market

Hopefully you will have already done a lot of market research before committing to your business idea. While it is relatively simple to profile your perfect customer, there is no replacement for real world testing. Go to where your customers will be and test your product or service and ask for feedback. This is also a great way to get testimonials from clients before you’re officially open for business.
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Talk Your Business Plan Through With Other People

It’s easy to worry that you’ll bore people by talking about your business all the time, but asking someone if they wouldn’t mind listening to your plan and sharing their thoughts on it can be a good idea. Ideally this person will not be too biased in your favour, so avoid family members and close friends as their answers may not be as useful. The people you talk to don’t necessarily have to be your target customer or even in business themselves, try and talk to a variety of people. You never know who may pick up on something you’ve never thought of before, or spot a flaw that was invisible to you!

Engage With Your Business’s Future Community

A great way to get your business off to a flying start is to engage with your potential customers and other influencers in your chosen field. If you do this before you start selling, you’ll hopefully have already started doing the work needed to establish you and your business as an authority in your chosen area.

Keep The Paperwork Stress To A Minimum

When starting a company, it’s possible to get caught up in all of the paperwork that goes with running a business. This can take focus away from the business itself and can slow down progress. A great way of keeping paperwork stress to a minimum is to outsource admin tasks and use a company formation service. We provide an online service that will result in company formation in just 3-5 working hours.

Start Right Now

Some people spend months, or even years, planning a business idea that may not actually work when put to the test. Some of the best advice you can follow is to start running your business as soon as possible – even if it starts out as a skeleton operation! When you start successfully selling and taking orders, you’ll know you’ve got a winning idea. Conversely, if your business isn’t immediately successful, you’ll be able to make changes quickly before too much time and money has been wasted. If you are going to fail in business, it’s always better to fail fast.

Are you starting a business?

At eformations we’re ready to help you through every step of company formation. Instead of struggling with paperwork, form your limited company with us, using our simple and stress free online service. If you have any questions or would like to discuss any of our services, please contact us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk 

 

 

 

 

 

 

7 Reasons Why You Should Start An Online Business

02 March 2015

If you’re thinking about forming a company, you’ve probably already considered using online strategy to help your business succeed, but how about starting a business exclusively online? There are many benefits to running a business in the virtual world, especially if your product or service lends itself to the online platform. Here are seven reasons why you might want to start an online limited company as opposed to a more traditional limited company.

If you are considering forming an online business, it is a great idea to register as a limited company because it gives protection to the trader and helps to establish a trust in the customer when purchasing something from an online trader.

  1. You can work from anywhere

One of the main benefits of starting a business online, is that you can work from anywhere in the world without needing a physical premises. However, some businesses benefit from the gravitas of having a business address. If you would like a business address, but don’t wish to rent premises, why not have a look at our business address service?

  1. You can get started on a shoestring budget

A traditional business would require premises, stock, and employees, which means a large outlay of cash before the business has even started! Setting up an online business greatly cuts these costs as all you need to start selling is a website. You can also cut costs by outsourcing tasks rather than taking on permanent employees. This will mean less paperwork for your business!

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  1. It’s simple to go global

Using the internet makes it easy to reach and sell to customers all over the world. However, if you do have the intention of taking your products and services global, be sure to look into the latest VAT legislation for the EU.

  1. There’s easy access to a huge number of potential clients

With a traditional business, you are often limited by your location and can only market to those within a small distance of your business. When you’re online, it’s possible to reach a far wider range of potential customers, which should hopefully result in more income!

  1. Digital marketing is affordable and effective

Traditional forms of marketing, such as newspaper ads, are always a bit hit and miss, as it’s difficult to accurately quantify results. Marketing online, through Google or on social media, is a great way to run low budget, well targeted ad campaigns with results you can easily analyse.

  1. Your business can be open twenty four hours a day

By having a website, your business can be accessed at any time of the day or night, which customers find incredibly convenient.

  1. Be more flexible

Most traditional businesses work between the hours of nine to five, or similar. When you run your business online, you can choose your own hours to suit you and your business’s needs. If you’re working from home, you’ll also have more time to spend with family.

Are you starting a business?

At eformations, we offer a company formation service that can be done online in three to five working hours. You can find out more about this service and get started right now by visiting this page: https://blog.eformations.co.uk/how-to-buy/

If you have any questions or would like to discuss any of our other services, please contact us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk