IDEAS for Settings UP Own Business
What you need to do to set up depends on your type of business, where you work and whether you take people on to help.
Register your business
Most businesses register as a sole trader, limited company or partnership.
It’s simpler to set up as a sole trader, but you’re personally responsible for your business’s debts. You also have some accounting responsibilities.
A partnership is the simplest way for 2 or more people to run a business together.
Rules for your type of business
You may have other responsibilities depending on what your business does.
Check if you need:
There are also rules you must follow if you:
Where you work
Check what your responsibilities are if you:
If you rent or buy a property, you may have to pay business rates. Small businesses can apply for a discount on business rates and some may pay nothing.
Taking on people to help
If you take on agency workers or freelancers you have some responsibilities, for example their health and safety.