It is an exciting time to be a start-up here in the United Kingdom as there is so much potential for new companies to make big waves in the market. Clever ideas that make use of growing technologies can lead to start-ups becoming recognized and respected players in an industry, as well as playing on the lips of the general public too.
However there is a lot to do and think about before all of that though. If you are thinking of starting up your own company in the near future, there are some points that you should consider and tick off your checklist first. To get you started, we have listed a few of these below in order to give you a bit of assistance…
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Insurance
Whether you are going to be based from your spare bedroom or an office, it is important that you get the right insurance for your business. Your needs are likely to change over time so keep your policies up to date. At first you might just want to get professional indemnity insurance to cover yourself against potential losses caused to other businesses, but you will soon need policies to be in place for the office and your staff members.
Office Safety
It is easy to forget that the office can be more hazardous than it would appear at first glance, which is why you should ensure that you have the proper processes put into place to protect yourself and your employees. Injuries can happen at work either through accidents or repetitive strains (you can find out more about these here) so keep in mind all of the risks so you can try to minimize them. The Health & Safety Executive website could be a helpful resource for getting your head around this topic a bit further.
Promotion
Away from the physicality of the office, you need to work on your presence as a company within the marketplace. That means you are going to have to put in some serious hours when it comes to spreading the word, or at least employing someone to take charge of your marketing efforts. There are many ways to do this from trade shows and exhibitions, to simply making use of social media and the wider internet too.
Investment
You should also take the time to think ahead to the future and what your goals are as a professional and also as a company. These should be worked into your business strategies, and they should be reviewed on a regular basis. One target that many start-ups have is that of investment as it can be quite expensive to fund a business that is trying to push the boundaries of what already exists.
You will have to work your socks off to get a good investor interested in you, so you better make sure that your accounts are all in order, you have the potential for massive growth, and that you are dependable as a professional. It is never too early to start networking as the people you meet now could be very helpful in the future.
What other considerations do you need to make?
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