Starting up a business

Starting up your own business requires dedication, hard work and a profitable idea or business plan to be successful.

If you are thinking of starting a food business you can find more advice on our starting a food business page.

There are various things you need to think about including:

• Business premises - where are you going to operate your business from?
• Tax and legal formalities - what sort of business are you running, you will need to register with HM Revenue and Customs and possibly Companies House if you intend on being a limited company
• Finding customers - how are you going to reach out to your customer base? Advertising? Word of mouth?
• Competitors and market research - have you looked at the market in your area, is there a need for your product or service? What can you do better than your competitors?
• Business and financial plan - have you written a business and/or financial plan so you can manage your time and money?
• Do you need a specific licence to run your business? For example do you need a personal or premises licence for a business selling alcohol?

Download the resource pack for new businesses full of advice and information.

There are various sources of help, advice and guidance for those looking to start a business visit the websites below for useful help and advice.

Gov.uk

The Gov.uk website covers a whole range of resources on useful advice and guidance on tasks to consider when starting your own business.

Start up information available on this website includes:

• Before you start/business planning
• Forming your business
• Setting up your workplace
• Tax, payroll and company information
• Employing people
• Managing your business
• Further support for your business
• Growing your business

HM Revenue and Customs

HM Revenue and Customs provides guidance and what you need to know when starting a business. Information on this site includes what you need to do for tax and national insurance purposes when you start up a business as a self employed person, a partnership or a limited company including what records you must keep. Further advice is also available on importing and exporting goods and services.

Business Lincolnshire

Business Lincolnshire provides local business information including business start up advice for the local area. This is a national site that links you to contacts and networking groups, signposting you to schemes and services that can help you start your business and grow.

Princes Trust

The Princes Trust offers an Enterprise Programme, this programme supports young people aged 18-30 wishing to start in business. It helps individuals explore their business ideas into self employment and introductions to other support available in terms of courses and grants that are available. There is also online support which includes guides and a business plan pack of materials to help you start planning your business.

Bishop Grosseteste University College - Enterprise Development Manager

The Enterprise Development Manager for Bishop Grosseteste University College Lincoln, besides providing support to the new-start businesses in BG Futures, is also available to advise anyone from the wider community considering self-employment/starting a business. This service, partly funded by the European Regional Development Fund, will run from September 2012 until March 2015 and includes outreach activities to local communities to promote the self-employed option.

You can contact the Enterprise Development Manager using the contact details below:

Mark A Bowen MSc FCMI
Enterprise Development Manager
Bishop Grosseteste University College Lincoln
Newport
Lincoln
LN1 3DY

Telephone: 01522 583727
Email: mark.bowen@bishopg.ac.uk