Guide/Tips on starting a small business

spile

I set up my own business in 2011 and despite being in semiretirement we are still going. I’ve a load of business marketing books and guides that are taking up space anyone starting up would find useful.

Mistral001

PHK said:

One thing that hasn't been mentioned is the cost of regular training to keep your skills up to date.

Your business insurance will require this and clients will want assurance you know what you are doing. 

A good pont.  There can be a sort of honeymoon period when you start a new venture based on something you have been doing full time as an employee for many years.  After about a couple of years you could find that you will have to spend more time keeping up to date than you first planned for.  You may think that will be easy, but once you "go it alone", you really are alone.  You have no colleagues to discuss the new things that come along in your sector, never mind being given training by your employer which of course you will have to pay for if you are on your own.  

One other thing is that you will usually need to inform your employer if you start a side business connected with the employer's business.  It can be a requirement of employment T&C's, but if it is not, it can be regarded as an unwritten rule for many employers.

I wish you all the best if you do decide to give it a go.

Berezny

For the legal side of things, I recommend checking out resources like https://pro.aroundwire.com/. They have great tools and guides that can help you navigate the business setup, including tax obligations, VAT, and insurance. They make it easy to understand the steps you need to take, which can help you get started on the right foot. 

Bookworm105

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