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GETTING GOING

FAQ - Gearing Up

Questions
Gearing up

GEARING UP

HOW DO I FIND CUSTOMERS?

Think creatively about who can help you reach interested parties. Identify the social networks that are most relevant to your customers and also get out into your local community. The more people you meet, the better your chances.

DO I NEED A WEBSITE?

In an increasingly digital world, a website has become a must-have; it’s also become much easier and cheaper to create. Check out accessible and low-cost web builders:
www.wordpress.com
www.moonfruit.com
www.squarespace.com

DO I NEED HOME BUSINESS INSURANCE?

It is likely that you will need additional insurance for your business and a summary of the options can be found at:
startups.co.uk/starting-a-business-from-home-what-insurance-do-you-need/

WHAT TAXES DO I NEED TO PAY?

If you are registered as self employed, you will be subject to home business tax on your income, measured under the self-assessment process. Limited companies are subject to Corporation Tax on profits at the ‘small profits rate’ of 20%. If you are turning over in excess of £81,000, you must register for VAT.

HOW DO I KEEP ON TOP OF MY FINANCES?

Keeping an accurate financial record is a prerequisite for any business. Ensure you keep an up-to-date record of all income, expenses and payments, and a file of invoices and receipts. Open a business bank account to ensure your small business cash flow is kept separate from your personal finances.

FAQ GETTING GOING
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FAQ BRANCHING OUT