Relocation of a company or perhaps registering a limited company is never an easy task in the United Kingdom, to create a business in the UK, even in this location that we know well is a bit difficult, you could make this step even more delicate. However, here are some tips to guide entrepreneurs in their efforts.
- Carefully Choose A Site In The UK
It is essential to choose the site of your new business carefully. Are you looking for upscale offices in the West End area or offices in a reasonable price in a neighborhood with greater cultural diversity? Access to highways important for your business? Would you prefer your business to be 10 minutes walk from St Pancras International Station to reach easily and quickly offices in Paris or Lille?
Or is it better to be close to Heathrow Airport? Does your activity help determine the location of your site, or at least reduce possibilities? Are you a specialized retailer for example, who must be present in an area where there are other retailers specializing in the same field? All these questions are essential and must be examined.
- The Structure Of Your Business In The UK
The United Kingdom follow European legislation, and your country companies are more or less familiar with the rules in the UK, but British corporate structures and the regulations that govern them remain nonetheless different. Shapes The most common companies in the UK are sole trader: unincorporated sole proprietorship.
A partnership involving a group of individuals, sometimes with limited liability in the form of a limited partnership! A private company with or without shareholders (for example for charities), public company: publicly traded company (particularly suitable if you are considering a rapid growth or if your investors or shareholders are numerous).
- Choose Your Team Of Specialists
Most companies need to use lawyers and accountants, and it is not obvious to make the right choices in the absence of recommendations. Nowadays, for most companies that do not turn to an accountant or a lawyer on recommendation, the answer is found on Google. But be careful, think about the following: what will be the ideal size for your company?
Do you need expensive services? From a large firm or to a firm specializing in the international field? – What is the level of specialization of your company? Do you need a firm specialist who will be able to advise you on your sector of activity? Is the geographical location of this team of specialists important?
For example, if you are setting up your business 10 minutes walk from the station; do you think these specialists are located in this area? In this case, it is possible that they add value to your business.
As a new company on foreign soil, you are probably not familiar with the laws, rules, and regulations in force in the country where you choose to settle. The differences are not only legislative, but also cultural, and fully understand these differences are fundamental if you settle in the UK. You may need to take advice on the following:
- The complexity of UK employment legislation-
- Local licensing requirements, especially if you operate a restaurant or bar
- The types of license specific to your business, for example, credit consumption
- The need to register with one of the many regulatory bodies in the UK
- Almost all businesses need to be aware of health regulations security
- Finding Premises
Now that you know where you want to settle down, how are you going to go about to find premises? The answer is often to call in a commercial real estate agent or a qualified surveyor (real estate surveyor) recommended by your lawyer or accountant, who will you advise on the condition of the property. Also, you will certainly need to use the services of a lawyer, because the particularities and legal problems that you may face with a property in London are not the ones you have met in your nation.
- Some legal issues are needed, for example: –
- How long do you want to commit to a given property?
- Do you wish to have an automatic renewal right?
And what about the level and revision of rents, the obligations inherent in the lease regarding repairs and interior decoration, and some work that you can wish to consider?
- Customers, Marketing, And The Website
The search for customers almost always determines the failure or success of a business. The crucial question: how to find them? And the answer lies more and more in a showcase of quality. For a shop, it will be a real showcase, but for most companies, will be an engaging website and have the opportunity to bring out the name of your company and see it appear when searching on Google.
The marketing plan and a method of identifying and targeting your potential customers are essential elements of any business.
Finances In a Europe that is racking its brains to try to get out of the current financial situation and whose banks are cautious when it comes to lending to businesses, the climate is not conducive to business creation. However, if you manage to establish your business during a recession, there are great chances you are in pole position when the situation improves.
In addition to the working capital and start-up costs of your business, do not forget to integrate the expenses related to your installation and that of your family: you will have to live, eat, drink, and sometimes even have fun!
- Computing And Intellectual Property
These two elements are increasingly important for a company. Nowadays, many companies do not work on the manufacture of articles, but create and add value to other companies by offering their services: these activities are intellectual property, and you must protect yours.
- The Business Plan Running A Business Is A Long Journey
Managing your own business relies on your vision for one year, to three years and if possible to five years. A business plan must be a flexible and realistic tool to reach your destination. You will certainly use the services of your accountants to develop your business plan to establish realistic budgets and set achievable goals.
- Work With Professional Adviser
Among all these elements, how to determine which ones are more important than others? Except that it’s a series of points on which you must question yourself, more or less thoroughly. My intention is never to frighten you, but rather to help you, through this Mind Map, to understand the complex elements that go along with any business. With the help of specialized advisers, you will be able to make the necessary decisions, for the good of your business in the UK.
Finally, anyone can establish a business in the UK if perhaps you implement the strategies in this very post, you only need to read through it well, if possible you go through it more than twice, thanks.