By Lynne Gowers on 9th January 2017

New Business Venture in 2017? – a checklist for starting up on your own

New Year, new business – exciting times! If you have made the decision to start your own business in 2017, there are a number of considerations and steps to take in order to get up and running effectively as soon as possible.

Your accounting provider should be there to support and guide you, but ultimately, as a company director, the responsibility is on your shoulders.

To help you charter the waters of setting up in business, we have put together this comprehensive checklist. By ticking off each task, you’ll ensure your new venture hits the ground running.

1. Incorporate your company:

  • Decide company name and check availability
  • Decide on your registered office address and director’s service address
  • Check internet domain availability
  • Select your shareholders and directors
  • Choose the date of your business year end (usually 12 months from date of incorporation)

2. Appoint an accountant – whilst you don’t always need an accountant it is usually a good idea to have one from the start.

3. Open a business bank account

4. Have your IR35 status and risk assessed (if you are a Personal Service Company)

5. Register for VAT– if needed, you can do that here

6. File your business with Companies House

7. Get your business insurances in place:

  • Public Liability
  • Professional Indemnity
  • Employers Liability

8. If you have employees, set up PAYE scheme to deal with payroll

9. Open business service accounts for landline, mobile and broadband

10. Subscribe or register with any relevant professional bodies

11. Decide on your company logo and branding for letterhead & invoices

12. Set up your website, social media profiles and business email

13. Get key documents to your agency or client:

  • Copy of certificate of incorporation
  • VAT Certificate
  • Confirmation of bank details
  • Verification of insurances
  • Draft terms and conditions

Whatever industry you are in, completing this checklist will put you in a great position to start invoicing clients, building up your reputation and growing your business.

The experienced team at Boox can help you with many of the steps involved in starting up in business. Find out more

Written by Lynne Gowers
Disclaimer Although we attempt to ensure that the Information contained in this publication is accurate and up-to-date at the date of publication it may not be comprehensive, we accept no liability for the results of any action taken on the basis of the information they contain and any implied warranties, including but not limited to the implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement and accuracy are excluded to the extent that they may be excluded as a matter of law.

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