Incorporate or Not
Incorporate or Not, when starting a new business. In the UK you can operate a business either way. So which to choose?
A good idea is to discuss this with your financial adviser. They will know whether one or the other is a more efficient route. Especially on taxation.
Incorporate if you wish to trade with larger companies. Get VAT registered as soon as it is viable. Being accepted by HMRC indicates certain quality about you. This will give your business partners comfort.
Start by creating a properly structured company. You will be perceived as a professionally constituted business. Add to this an office and staff and you are ready to go. However, having office and staff expenses will load an unnecessary burden on your fledgling business. The “canny” business people choose to have a Virtual Office complete with a Virtual Receptionist. So, for a small monthly outlay you get an address for your post. Adding a polite, trained receptionist to answer calls in your business name is a big bonus for a small outlay.. The world sees you as a professional business and not a home worker.
No matter what you hear, appearances still DO matter.
Start your business looking like an organisation from day 1. Then, all you need is the know-how to do with your planned activity. Bingo, you have every chance of success.
Of course, another option is starting by working from home with a mobile and a laptop, answering your own calls. You may succeed in some trades but it is much harder in a business.
See how easy and affordable it is to set up a Virtual Office. We can assure you that you will recoup the cost many times over. Try it for 3 months, what have you to lose?