Frequently Asked Questions

In our experience there are standard questions asked by most prestarts on business structure, finance, marketing and taxation and you may find a quick and simple answer to your question below.

Please note answers are general and additional research is always recommended.

Business Structure

What kind of business structure should I set up as?

What’s the difference between setting up as a sole trader, a partnership or a limited company?

Legal Responsibilities

Can I give my business any name I like?

Do I need business insurance?

Do I need any licences or permits to operate my business?

What are my responsibilities in respect of health & safety?

Do I need to register under the Data Protection Act?

How do I register myself as self-employed?

Managing Money

Do I need a business plan?

What information needs to be included in a business plan?

How do I put together a cashflow forecast?

How can I get finance for my business?

How do I keep a record of my income and expenditure?

Do I need to open a business bank account?

How do I price my product or service?

Taxation

Do I need to register my business for VAT?

How do I find out about tax, NI and VAT requirements, and when they apply?

Marketing

How can I market my business?

Do I need a website for my business?

How can I contact other new businesses to use their services?

Employing People

What are the regulations around employing people?

How do I make sure that I employ the right people?

How can I motivate my staff?

Premises

How can I find suitable premises for my business?

If I am trading from home, do I need to notify the local council and have a plaque outside the door with my company name?

If your question is not shown above, please contact us by using our contact us form, or alternatively you can email us at info@edeal.org.uk or call us on 01323 641144