SMALL BUSINESS

Whatever type of business it is, you'll be faced with the decision about whether you should be starting up as a sole proprietor, partnership or limited company. There may be many factors for you to consider or the choice may be made for you. There are advantages and disadvantages associated with each of the three options, depending upon your circumstances and requirements. Some people may want to start enterprise which is not for their own profit .The resources in “businesslink’s” Social Enterprises topic area will show details on such business what their goals can be,how they can be structured, and so on.

You now have a business plan,and are ready to launch your business. Once you have decided upon your start date (day one of trading), you will need to inform the relevant public authorities for sales tax purposes. Be sure that all Health and Safety checks have been made and you have the appropriate certificates to prove this to your customers and suppliers.

Don't overlook the obvious such as getting a telephone service or utilities like electric, gas and water connected on time - and make sure your bank, accountant and solicitor are all lined up and ready to work with you.Most importantly, be sure that your customers and suppliers are lined up and ready to do business.Finance, how costly it is and , is crucial for making profit &surviving . For some businesses, it may be better to seek share capital funding rather than bank loans.

Grants are generally given by socially committed agencies or government for specific activities. Whether or not you may qualify for a grant depends on a number of factors, including the kind of business you have, whether it will create jobs, which section of society it caters to, where it is located and what you need the money for.You should bear in mind that a grant may not be the most appropriate form of finance for your business needs and that there are often costs involved in complying with the conditions of the grant.