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Setting Up a Limited Company: 5 Things You Should Know

Setting up your own business can be an exciting time, but there are, with anything, risks attached to the process and things that can be tricky or go wrong.  To try and ease the process, I’ve collaborated with One Click Group to bring you five this you should consider when setting up a limited company…

limitedThink carefully about the name

You may have already thought of the perfect name for your business, but it’s worth remembering that a limited company will need one that is completely unique and that doesn’t contain any sensitive information or wording.

Set up a business bank account

The easiest way of keeping track of your company’s accounts is by setting up its very own business bank account.  This also helps you out as it completely separates your personal finances from those associated with the business.

Think about your taxes

You, or your accountant if you have one, will need to register with HMRC as a company to ensure that you are paying all the taxes you owe.  It’s good to get this done as soon as possible so you aren’t saddled with a hefty bill further down the line.

Get everything in writing

It’s really important to get into the habit of having legal documents, including things like your company’s terms and conditions, in writing.

Spread the word

Think carefully about how you will market your business in the early days – word of mouth is great, but is it enough?  Can you afford a more involved campaign?

For more information and advice, visit http://oneclickgroupuk.com/


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