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There are a large number of considerations when starting a business, from finances to time investment and unforeseen circumstances. Read more 5 Things to Consider When Starting a Business 15 min read Company Formations Table of Contents Categories Understanding the basics of starting a business 1. Having a plan 2. Having the right support in place 3. Understanding legal requirements and regulations 4. Understanding the financials for your business 5. Preparing for launch Knowing when to ask for help Our formation packages Are you ready? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Starting a business can be as exhilarating as it is challenging. The journey from concept to fully functional enterprise is full of uncertainties - some of which may be exciting, but many of which can seem daunting without the proper prep. Among the factors to consider when starting a business are legal requirements, financial responsibilities, and the complexity (and, ultimately the achievability) of your vision. If you’re ready to make your business dreams a reality and you’re starting to devise your to-do list, here are 5 factors to consider when starting a business you can’t afford to miss. Understanding the basics of starting a business Even if you’re brand new to the world of entrepreneurship, it doesn’t mean that starting a business is a far fetched dream - you just need to understand a few fundamentals. Consider this foundational knowledge the bedrock upon which you’ll build your business. 1. Having a plan A business plan isn’t just something you pin on your wall and look at longingly - banks and potential investors will want to see a comprehensive business plan before deciding whether or not to contribute towards your enterprise. Your plan is important - for the first draft, you can focus on these areas. Don't know how to write one? We've got a comprehensive guide on how to write a business plan here . Having a good business idea Does your business idea involve offering people something new? Or offering something familiar in a new way? Whatever it is, you need to feel confident that your business will draw enough customers to guarantee a good return on your investment, and stand out in the current market. If you haven’t got an idea yet, take some time to research. We have a handy guide on finding new business ideas . Understanding the time and money investment Speaking of investment - you need a rough idea of how much money it will take to get your business up and running, and keep it running before you start to earn that money back. This might involve taking out loans or convincing investors to help get you off the ground. Whichever method you choose, you’ll need to detail how you’re going to get the money together. You also need a timeline for how long you expect all of this to take. Keep in mind, it can take a few years for a business to become profitable - do you know how much money you’ll need to support yourself if you won’t make a profit for 24 months? What if an unexpected delay throws a spanner in the works and delays your launch? While having belief in your business is paramount to making your dream a reality, it’s also useful to prepare for the worst-case scenario, especially when time and money are involved. Knowing yourself and your customer It’s fine for your plan to be ambitious, but it should also be within your limitations. Set goals that you know you will be able to achieve with the right amount of hard work, and outline exactly how you will get there. This will make your plan more appealing to banks and investors. This also extends to identifying your customer base. In an ideal world, the whole world would want to be your customer, and the money will be piling high before you know it. However, realistically, there aren’t any services or products that will appeal to everyone across the board. Honing in on an ideal customer profile will also make your business easier to market, as you’ll know exactly whose attention you’ll want to grab. 2. Having the right support in place While opening your own business might feel like striking out on your own, in reality it will involve the input of lots of other people. This will range from friends and family, to mentors and professional services. You’ll also need to have the right knowledge to be able to support yourself, which might involve undergoing training in preparation for starting your business. Will you need anyone to help in the business? You might be planning to enlist the support of your family or partner to get your business going, or you might need to hire employees and external professionals such as accountants or consultants. Whatever kind of team you need, try to figure out the roles you’ll need to fill as soon as possible, as they’ll need to be detailed in your business plan. Considering your own strengths and weaknesses is a good way to identify the gaps you may need to fill with the help of others. However, you might be able to fill in some of these gaps yourself with the appropriate training. Skills gaps and training required Depending on the nature of your business you may need to seek out some courses or qualifications to bolster your business-running abilities. You might feel like you need to improve your leadership skills, or deepen your understanding of marketing. Knowledge is power, and the more you learn, the more your business will benefit. Attending seminars and webinars where experienced entrepreneurs share their experiences and insight can also be useful - not just for gathering information and research, but also for networking. Connecting with individuals on a similar journey to yourself will help to make starting a business feel less daunting. Having the right space If you intend to run your business from your home you may think that you’ve already sorted your business space - but do you know the rules and regulations that surround operating a business from your premises? It may seem more achievable than being able to afford a separate space, but that doesn’t mean there aren’t permissions and licences involved. Your home might not be suitable for the type of business you want to run, so you may have to look for an office or shop space. Consider these questions: What kind of place will you be able to afford? Home might be the only option for now, but what about in the future? What legal requirements will you need to be aware of for any space that you occupy? Will a physical space see enough foot traffic to draw interest while you’re getting your name out there and can bring customers to you? Having the right equipment Most enterprises require some form of specialised equipment, whether you’re a dog walker or a cleaner , there will be tools of the trade you’ll need to have to get your business started. Consider these questions: How much will this equipment cost? How will you strike a balance between high-quality equipment, and equipment you can realistically afford? Will members of your team need training to be able to use this equipment? When is your equipment likely to need replacing? 3. Understanding legal requirements and regulations Starting a business involves navigating a complex web of legal requirements and regulations. Failing to comply can result in fines, which may then lead to legal action and ultimately the closure of your business, so it’s important to do your homework on legal considerations. Registering your business Whether you want to operate as a sole trader or opt to register as a limited company , you’ll need to go through the appropriate registration process. The way in which you register your business will have important implications for your finances. For sole traders, there is no legal distinction between your personal finances and your business’ - be it amazing profit or potential loss, it is all your responsibility. You and you alone are responsible for your business, even if you have employees, and you are technically self-employed. If your business is a limited company you will be liable for only the amount you’ve invested, as your business will be considered its own legal entity. You’ll have to register with Companies House and will need: the name of your company (which must be unique); your business’ address; and the details of both directors and shareholders. By forming your company with SUAZ , we’ll take care of the hard work for you. We’ll register your business with Companies House on your behalf and even cover the £50 filing fee. Obtaining necessary licences and permits There may be a variety of licences and permits required to run your business. Failure to acquire the right licences might result in fines, so it’s important to think carefully about what you might need to obtain permission for. Examples of some of the licences and permits associated with businesses include: Business licence - to operate your business in accordance with government guidelines. Personal alcohol licence - to be able to serve alcohol. Street display licence - to place advertisements on the street outside your premises. Environmental permits - permits relating to anything that may impact the surrounding environment, e.g. waste disposal. Music or entertainment licences - allowing you to use copyrighted material and host live performances. Building permits - to allow any renovation or construction work that might be needed for your business. Understanding your tax obligations Again, your tax obligations as a business owner will depend on how you choose to register your company. If you operate as a sole trader you will have to fill out your own self employment tax return, and as a limited company you will need to register for Corporation Tax. Keeping on top of your finances, staying compliant with tax laws and hitting all of the required deadlines will stop you from running into legal issues. If this sounds like a lot of work to you and like something you’ll need help with, you might consider enlisting the help of a specialist. This will then be a further cost to consider, but might be able to save you valuable time and headspace. 4. Understanding the financials for your business Financial management is a key part of running a successful business. Ultimately, do you know how your business will make its money? Are you confident that this will be enough to (eventually) cover your running costs? Do you have a budget with estimated income and expenses? Are your bookkeeping skills up to scratch? Hopefully all of these questions have occurred to you, but if not you still have time to consider them. Let’s take a look at some of the ways in which you can source funds to get your business started. You can take a look at our business financing guide here for more detail . Bootstrapping your business To bootstrap your business means to fund it entirely yourself, with minimal reliance on outside sources. Whether it’s your hard-earned savings or a sudden inheritance, it means you’ll have more control over your finances and keep you free from debt. For many people bootstrapping simply isn’t possible, but for those with the necessary capital it can lead to healthier long-term financial stability, and encourage financial discipline. Applying for business loans Most people looking to start their own business will be considering applying for business loans. They’re a traditional way to finance a business that involve you borrowing money from a lender and paying it back over an agreed period of time, with interest. The two main categories of business loans are secured loans and unsecured loans . The difference between the two is that with secured loans there is some form of asset the money is borrowed against - usually property. Unsecured loans don’t need an asset as security, but will typically have higher interest rates. To apply for a business loan from a lender or a bank you will need to pass some eligibility checks - many of which you can gauge the likelihood of passing online beforehand. You will also need to present your business plan, to illustrate your business’ potential and paint a picture of how you intend to run your enterprise. Seeking business grants Grants are a great way to help fund your business as they don’t typically need to be paid back. Depending on your circumstances you may be eligible for a variety of different grants. Here are some of the pros and cons of this form of funding: Pros Cons Not having to worry about repayment You may not meet every grant’s eligibility criteria There are lots of grant opportunities available Applying for grants is highly competitive They give your business a level of recognition which is great for customers and investors alike to see Filling out applications may be time-consuming and difficult Grants reward creativity and innovation, not just profitability One grant isn’t likely to be enough to fund your business You don’t have to give up any equity in your business to receive a grant Some grants will dictate how the funds they allocate can be used Attracting investors If you don’t have a problem with sharing ownership of your business, acquiring investors might give you the boost you need to get started. In order to attract investors you’ll need to do the following: Develop a compelling pitch that highlights your business and products’ unique selling point (USP). A pitch needs to make investors feel like passing up on involvement in your business would be missing a big opportunity. Attend networking events that might put you in the same rooms as potential investors, and make sure you’re making the most of online platforms that can connect you to helpful people. Look into appropriate angel investors - investors who, as well as contributing their own money towards new businesses for a small stake, will provide mentorship and guidance. Utilising crowdfunding Creating an engaging campaign to launch on a crowdfunding platform can convince total strangers to part with their money in support of your vision. It’s a popular and easily-accessible way to raise money for a variety of causes, including businesses. With crowdfunding it’s especially important to tell the story of how your business idea came to be, as people reading about your cause will want to be able to relate to your journey. You can even offer rewards based on your business for different levels of donation e.g. if you’re hoping to open a bakery, people might be able to donate in return for baked goods. You get cash, they get cake, and early access to your amazing products - everybody wins. 5. Preparing for launch If your business currently only exists in the form of an idea, getting ready for launch might seem like a lifetime away - but you can never be too prepared. A successful launch can set the tone for the rest of your business’ life, so it’s a good idea to take it seriously. Here are some things you’ll need to have ready well before your launch date in order to set sail as smoothly as possible. Creating your brand identity First impressions matter. How do you want your business to come across to potential customers? Friendly and down to earth? Slick and authoritative? You want your business to be able to stand out in a sea of competitors, and one way of ensuring that is by having a strong brand identity. Everything down to the fonts used on your website and the colours in your logo will help to make up your brand identity - so choose wisely! Setting up your business website You have to be at least a little bit tech savvy to launch a business these days - even if that savviness means you know you’ll need to hire someone to create your website! Your website should be attractive, easy to navigate, and anticipate the thoughts of potential customers who visit it. Are they looking for contact information? For details on your history and your products? Or maybe to place an order? Deciding to sell your products or services via your website is a wise choice, even if you operate out of a physical space as well. The UK has the most advanced e-commerce market in Europe , leaving only a tiny percent of the population who don’t buy anything online at all. Don’t miss out on that market! People can visit your business from the comfort of their own homes. Developing your marketing strategy Speaking of markets and marketing - people can’t support your business if they don’t know it exists, and if you wait to advertise your business until after it has launched then you’ve already missed the boat. Decide which channels will be best for marketing your business - this will depend on the demographic of your target market. For example, if your ideal customers all tend to be very active on Instagram, don’t waste money advertising in newspapers - meet them where they are. Pick marketing tactics that will complement your business, and put a strategy in place well before you’re even thinking about launch day. Navigating your business launch There are lots of ways to approach launching your business. You don’t necessarily have to dive straight into hosting a nerve wracking and expensive grand opening event. Why not try a soft launch or beta phase, where you can work out any kinks in your operations and gather feedback from your first customers. This can provide you with valuable information to make any last-minute improvements before a full-scale launch. There are two things (well, lots of things, but let’s focus on two in particular) that are important to consider during your launch: Customer support You’re a new business - people will want to ask questions, and may need more information to understand your product, services, or website. Be prepared to provide exceptional support straight from the offset and you will be rewarded with loyal customers. Plan for continual improvement If you can see that something clearly isn’t working in your business plan, you don’t need to stick to it. Be prepared to accept feedback and embrace change based on market trends - adaptability is key. Knowing when to ask for help There are many advantages and disadvantages to starting a business - the pros include the flexible lifestyle and development of personal skills, and the cons mean the potential for financial risks and excess stress. One way to mitigate these risks is to know when to ask for help. Help might come in the form of family and friends to lean on, or legal counsel to help calm your fears about contracts and intellectual property. Entrepreneurship is challenging, so when you realise that you can’t go it alone and find yourself seeking help, don’t think of it as a failure - think of it as taking the next step towards achieving your goals. Our formation packages Consider forming your company through SUAZ. You’ll have the support of our experts and the power of their combined knowledge to help handle the more complex parts of starting a business. Our formation packages can fit businesses of all shapes and sizes, and will make your dream of starting a business feel even more achievable. Are you ready? We’ve given you plenty to think about. Let us take some things back off your mind. Why not form a company with SUAZ today? Recommended Readings

Find out where the most in-demand locations are to become a dog walker across the UK’s biggest cities and towns. Are dog walkers in demand? 10 min read Beginner's Guide Table of Contents Categories Planning for your dog walking business The most in-demand areas to become a dog walker The most dog-friendly areas to become a dog walker Experienced dog walker shares tips for growing your business: Conclusion Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Setting up a dog-walking business is an incredibly exciting time. You get to spend time doing what you love and make some money while hanging out with dogs all day – brilliant! But, are dog walkers in demand? If you’re serious about pursuing your new venture, you have a big choice to make about where to base yourself to ensure you’ll have enough clients to make it worth it. In the UK, there are approximately 13.5 million pet dogs, with more than a third (36%) of households owning a four-legged friend. The last thing you want to do is set up your business only to find out there aren’t many dog owners in the area. In the last five years, the number of dog owners has boomed. During the pandemic, it’s estimated that 3.5 million dogs were purchased. And now, with many employers adopting a post-pandemic mindset, four in ten businesses have asked staff to return to the office full-time . As a result, there will certainly be a demand for dog walkers – so now’s the time to grab your leash, write a business plan, and get started. But where? To make sure people don’t think you’re barking mad, we’ve taken a look at the biggest towns and cities in the UK to work out the most in-demand areas for dog walkers. We’ve looked at the number of dogs per registered walker and the average price for dog-walking, as well as green spaces, dog-friendly restaurants and pet shops. This should give you a great start and help you with your decision about setting up a dog-walking business close to you and how likely you are to find plenty of eager clients. Planning for your dog walking business Starting dog-walking as a business is unfortunately not quite as simple as grabbing a leash, creating a Facebook page and taking the nearest pup for a walk. Just like with starting any other type of business, you need to know how to start a dog-walking business in the UK before you dive in. Enthusiasm is absolutely needed, but without careful planning, you might not have the success you hope for – even if there are plenty of dogs and busier owners close by. The most effective way to give yourself a solid start on your business journey is by writing a business plan . A dog-walking business plan outlines your goals, what you plan to do to achieve them and when you want to achieve them. You can refer to it as a sort of pseudo-bible to make sure you’re on track to be where you want to be. There are several key considerations you should consider when putting your business plan together: Is there much local competition? If your local area is saturated with high-quality and affordable dog walkers, it’ll be difficult to stand out from the crowd. Who are your target customers? Is it families, busy professionals, older pet owners or someone else? Different people have different requirements, so think about the type of service you want to offer. Will you offer individual or group walks? There are upsides and downsides to each, including higher risk and greater difficulty for group walks and a smaller income for individual walks. How far are you willing to travel? The further the area you cover, the wider your customer catchment area. But, time spent travelling is time spent not walking dogs. Will you need to transport dogs in your vehicle? If so, the more dogs you transport the more equipment you’ll need to buy. How often do you plan to work per day? Owners often like their dogs to be walked two or three times a day, which means you might have to work from the morning until the evening to ensure your customers receive the service they need. How many clients can you comfortably take on at any one time? This will also depend on where your clients live, how often they want their dog to be walked and how far you walk. Are you looking to grow your business? Think about the maximum number of dogs you can walk and how you may need to hire staff to meet demand if it grows. The most in-demand areas to become a dog walker Once you know more about the goals of your business and how you aim to meet them, you’re in a far better position to kick things into motion. But, one of the most important factors in your decision should be whether or not there are enough potential customers in your town or city to ensure your business can be successful. Think of it this way. You wouldn’t start a business selling kites in a location that doesn't get any wind, so why start a business walking dogs in an area where there aren’t many dogs? One major question to ask is what is the dog population of different areas around the UK? Based on our research, we’ve identified the top five towns and cities where dog walkers are in demand the most: Wolverhampton Leicester Norwich Liverpool Luton These towns and cities were identified using the ratio of dogs to dog walkers and the average amount a dog walker charges in each area. The number of dogs per registered walker is the number of dogs in an area divided by the number of registered walkers to indicate where there is more demand/more dogs. For example, Wolverhampton, the area with the most demand for dog walkers, has a population of 218k, a dog population of 45k and 1,160 dog walkers who charge an average of £12.20 per walk. This translates to 38.8 dogs per registered dog walker. In second place is Leicester, with a population of 471k and a dog population of 79k. With 1,250 dog walkers in the city, there are more than 63 dogs per registered walker, who charge an average of £12.50 per walk. That means if you walk eight dogs a day, for example, then there’s a potential turnover of £100 per day. Norwich is third, followed by Liverpool and Luton, which have 35, 29 and 37 dogs per registered walker respectively. The most dog-friendly areas to become a dog walker So, now you know which areas have the most demand for dog walkers’ services, but what about the most dog-friendly areas? This includes towns and cities with the most dogs, green spaces, dog-friendly restaurants and pet shops per 10,000 people. The higher the number of dogs per 10,000 people, the more opportunities a dog walker may have. An area with more dog-friendly restaurants opens up new places to go with your dog and shows that potential customers value their dog's wellbeing, meaning they’re more likely to hire a dog walker. And, the more pet shops there are in an area, the more likely you are to have easy access to supplies and equipment. Using this information, we’ve identified the top five most dog-friendly areas: Gloucester Bradford Brighton Milton Keynes Cambridge With 3,000 dogs, 3.8 green spaces, 5 dog-friendly restaurants and 0.6 pet shops per 10,000 people, Gloucester is our number one dog-friendly area – not surprising considering it’s in the heart of the beautiful Cotswolds. Perhaps a little more surprising is Bradford’s number two position, with 2,250 dogs, 4.9 green spaces, 3.7 dog-friendly restaurants and 0.6 pet shops per 10,000 people. In third position is Brighton, with plenty of dog-friendly restaurants, and in fourth and fifth are Milton Keynes with 10 green spaces per 10,000 people and Cambridge with 5.7 green spaces. Experienced dog walker shares tips for growing your business: Clare Wainwright-Jones is the owner of Black Lab Dog Walking , which she has built into a successful dog-walking business over the past six years. Clare based her business in Cardiff, which doesn’t feature in our list of top in-demand cities, but has used her local knowledge to get the word out about her experienced services. ‘ Join as many local Facebook groups as possible, as from my experience people post on them daily looking for a local dog walker. It’s a quick and easy way to get your business to a wider audience. Some pages allow business posts once a week for advertising too. These pages also highlight any areas to avoid walking or new places to try. I also posted advertising flyers in local dog-friendly shops and cafes. ‘Something else I did early on was use vehicle signage, which is easy advertising while I drive around the area I want to work in. When first starting out, I used logo magnets on my car, but now I’m established I have signage on the van with contact details and social media pages. ’ Conclusion With UK homes now owning more dogs than ever before, there’s clearly a growing demand for dog walkers across the country. There’s never been a better time to set up a dog-walking business, so strike while the iron’s hot – it’s just important to remember that, like with any business, a solid plan is still important. To give yourself the best chance of success, you might want to consider establishing your business in and around the most in-demand areas, such as Wolverhampton, Leicester or Norwich. Or, one of the top dog-friendly areas, like Gloucester, Bradford, or Brighton. If you’re not close to any of these areas, then don’t worry – so long as you have a solid business plan and you’re committed to making it work, you can still find success. So, grab a pen and a leash and start planning your own dog-walking empire. And it couldn’t be easier – If you're now ready to start your dog-walking business, check your business name is available and SUAZ will help you set up the rest. Recommended Readings

Discover the impact of Companies House fee changes on agents & SUAZ's commitment to free company formation. Stay informed & empower your business with SUAZ. Changes to Companies House Fees 8 min read Company Formations Table of Contents Categories Understanding the recent changes to Companies House fees What does this mean for SUAZ? What does this mean for other company formations agents? So, how much does it cost to form a limited company now? SUAZ’s commitment to free company formations Adapting to change: empowering entrepreneurs Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Following a recent government announcement, there are going to be changes to Companies House fees coming on May 1st 2024. These changes mean there’ll be an increase in the cost of starting a business in the UK. Below, you’ll find all the necessary information regarding the changes to the fees, and how they might affect your plans to start your own business, as well as some insight from our expert team. Understanding the recent changes to Companies House fees Companies House is increasing its fees for a range of business necessities, which includes an increase in company incorporation fees. These fees are increasing for all types of businesses and all methods of incorporation. Specifically, the cost to incorporate a company digitally is rising from £12 to £50, an increase of more than 300%. However, this isn’t about the government trying to maximise its own profits, as explained by our Start-Up Advisor, Joe. “It’s important to remember that Companies House doesn’t make any money by increasing its fees. It’s justifying this increase by spending more money protecting the integrity of the public register. If these changes lead to more accurate information on Companies House, there will be a decrease in fraud and the overall benefit to the reputation of UK companies. Having said this, the fee increases make starting a company, which is already expensive, even more so, and may put some people off making this leap. “Any increase in fees is clearly unfortunate for new business owners and hits small businesses the hardest. However, if the increased revenue is used wisely by Companies House, it will mean a more robust public register of information, which will give greater confidence to UK businesses.” What does this mean for SUAZ? At SUAZ, we’re proud to offer free company formations, so if you’re looking to start your own business, choosing us as your company formations agent means you won’t have to worry about the current £12 incorporation fee. We’re committed to offering you the opportunity to start your own business with our support, and the latest announcement regarding the changes to Companies House fees doesn’t affect what we can offer today. It would be disingenuous of us to guarantee that we will continue to offer the free product beyond May - this news was announced only last week and we would be wary of any agent that is already promising to offer free formations regardless of the fee increase. We know that any business, whether yours or ours, is built on careful decisions. As soon as we decide on the future of our free company formations product, we’ll communicate it to you clearly. The best way to keep up to date with the rapidly developing news is to join our mailing list. What does this mean for other company formations agents? It’s hard to know exactly how the changes to Companies House fees will change the landscape for company formation agents. The increase in fees will likely make it harder for everyone to offer free company formations in the future, and it really is a good incentive to take advantage of our free company formations offer while we can guarantee it. So, how much does it cost to form a limited company now? The changes to the Companies House fees come off the back of legislation passed in Parliament in October 2023, namely the Economic Crime and Corporate Transparency Act, which received Royal Assent on October 26. Designed to allow Companies House to play a much greater role in disrupting economic crime, this legislation does affect how small businesses will interact with Companies House. This includes changes to the way accounts are reported and how directors are identified, and greater powers to query information. Companies House is set up to take a much more hands-on approach to vetting and protecting the public register. Companies House fees work on a cost recovery basis, with fees covering the costs of services delivered. With an increase in the scope of work for Companies House, the change to the fees reflects this. The table below highlights the increase in fees in the areas that may be relevant to small businesses - for a breakdown of every planned change in Companies House fees, check out the Companies House website . Service Channel Current Cost New Cost Incorporation Digital £12 £50 Incorporation Paper £71 Confirmation Statement Digital £34 Change of Name Digital £20 SUAZ’s commitment to free company formations Our free company formations product is important to us, and our mission hasn’t changed due to this news. Our aims are still to: Take the stress away from starting a new business Give the new businesses we work with the best possible chance of success Support small businesses like yours with the best possible start We believe that the best start we can offer a new business is the Business Support Club - a unique marketplace that provides you with access to vetted suppliers to help you grow your idea into a business. By signing up to the Business Support Club via the free company formations product on SUAZ, you’re giving your business the best possible chance of success right from day one. As a member of the Business Support Club, you’re putting your trust in us and our suppliers; so it’s only right that we absorb the first cost of your business journey - the incorporation fee. Adapting to change: empowering entrepreneurs Changes to Companies House fees are not easy to read as a budding entrepreneur - but business has always been about adapting to a changing environment. On one hand, the knowledge that fees will rise in the future means there’s never been a better time to start your own business than today, beating the increase! On the other hand, you may not want to be rushed. These changes aren’t ideal, but perhaps they’re the catalyst you need to make your dreams of owning your own business a reality. Our Knowledge Base is packed full of information on starting companies in a range of industries and sectors, and it’s important to do the correct research before making any decisions. Beyond our own blog, we’d encourage you to sign up for the Companies House newsletter for up-to-the-minute information on any further changes in Companies House fees. Whatever path you choose to take, SUAZ and BSC are here to support you every step of the way. Our Start-Up Advisor, Joe, has the following tips for entrepreneurs following the Companies House announcement.“ We know that starting a business is already expensive and increased statutory fees aren’t exactly going to help. We’ve always promoted starting businesses with an emphasis on keeping costs down and this is getting more and more important. Here are some key tips to keep costs down: Don’t buy too much stock It can be exciting to buy stock, but buying too much can act like an anchor on your business, weighing on cashflow and meaning your budget is all tied up. Buy second-hand or leased equipment Buying older equipment can be significantly cheaper than buying new. Or consider leasing initially until you have a reliable income. Negotiate everything Lots of business purchases are negotiable. As the saying goes, if you don’t ask you don’t get. Always ask for a discount! Use Business Support Club Using BSC will allow you to compare suppliers and find the best value products and services for your new business. At SUAZ, the biggest mistake we see new business owners make is overspending when they start their company without proving the concept first. We highly recommend proving your idea works on a budget, then scaling up when you have demonstrated demand.” The changes to the Companies House fees don’t need to be the end of your entrepreneurial aspirations. With SUAZ and BSC on your side, they could be the moment you decide to make the best decision of your life and take advantage of a free company formation product that you can trust, while it’s still there! Recommended Readings

Explore how to be a FTSE 100 CEO, understanding the experience needed, length of service at the company and number of internal promotions required on average. What it takes to be a FTSE CEO 8 min read Business Trends Table of Contents Categories Who are the FTSE CEOs? How much experience do you need to have to be a FTSE CEO? How many roles does it take to become CEO? Are you rewarded for length of service? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Becoming the CEO of a company takes grit, determination and experience. For those starting a business , you may want to look up to successful CEOs for guidance and understanding on what it takes. After all, learning from those who have already reached the top can offer valuable insight. And where better to start than the FTSE 100 CEOs? We’ve pulled together research on the 100 CEOs in the FTSE to find out key trends such as the average length of service at the company, total years of experience, average number of roles before becoming CEO, as well as company loyalty to reveal what it really takes to lead from the highest level. Stand out stats Who are the FTSE CEOs? The FTSE 100 is made up of the biggest 100 companies in the UK, spanning industries from finance and tech to retail and travel, and all spearheaded by CEOs who are resonsible for steering strategic direction and long-term growth. Companies include Auto Trader Group, Coca Cola, Easy Jet and Marks & Spencer to name a few. Of the 100, just 10 are led by female CEOs , highlighting the ongoing gender gap at the executive level. The companies with female CEOs include Admiral Group, Aviva Plc, BT Group plc, Diageo plc, Entain plc, F&C Investment Trust plc, GSK plc, Severn Trent PLC, Taylor Wimpey plc and United Utilities Group Plc. The average age of FTSE CEOs is 56 , with the youngest being Nathan Coe (47), CEO of Auto Trader and the oldest Ian Cockerill (70), CEO of Endeavour Mining. This suggests that the FTSE 100 companies clearly value experience, but with younger, tech-savvy leaders emerging all around the world, how long before we see this average start to drop? How much experience do you need to have to be a FTSE CEO? We wanted to understand the full range of experience top leaders have. Therefore, where the information was publicly available, we researched the total number of years of career experience each FTSE 100 CEO had accumulated, to the point they were appointed as CEO of their current firm. Our analysis revealed that the average FTSE 100 CEO is a highly seasoned professional, boasting an impressive 31 years of career experience before taking the top spot. Notably, 23 CEOs fall within the 31-35 year experience bracket, highlighting just how much time it typically takes to reach the top. However, as with any average, there are some outliers. We found that two leaders have under 10 years of experience; George Weston of Associated British Foods stepped into the CEO position with 10 years of prior experience, while Frank van Zanten of Bunzl took the helm with just 9 years under his belt, proving that, in some cases, swift rises to the top do happen. How many roles does it take to become CEO? It's a common thought that loyalty should be rewarded, especially in the corporate world. But does this hold true at the very top? We wanted to understand just how much internal dedication and climbing the corporate ladder actually contribute to being a CEO. To explore this, we dived into finding out the number of internal roles each FTSE 100 CEO held before taking the helm of their current company. Our data shows 29 out of the 100 current FTSE CEOs were appointed directly into the chief executive role, without having occupied any prior positions within that specific company. This suggests that for nearly a third of the UK's top firms, the search for leadership talent extends beyond internal candidates, often favouring external expertise and a fresh perspective. Number of roles within the company No. of FTSE CEOs 1 29 2 24 3 8 4 6 5 1 6 3 7 1 8 1 9 1 10 0 11 1 12-25 2 Are you rewarded for length of service? Beyond just the number of internal positions held, we dug into how long FTSE 100 CEOs have actually been with their current firms. Does a lengthy tenure genuinely lead to the top job, or is it more about rapid ascent? Our findings paint an interesting picture: a significant chunk of top executives are relatively new to their corner offices. 30 CEOs have been with their companies for five years or less . This suggests that reaching the pinnacle doesn't necessarily require decades of loyal service, and in many cases, fresh perspectives and external experience are seen as valuable assets at the executive level. Yet, the other end of the spectrum shows that loyalty can indeed be rewarded, epitomised by Fernando Fernandez, CEO of Unilever PLC , who stands out with an incredible 37 years at the company. Length of time at company (years) No. of FTSE CEOs 0-5 30 6-10 24 11-15 8 16-20 5 21-25 1 26-30 4 31-35 4 36-40 2 41-45 0 46-50 0 The path to FTSE 100: Does one size fit all? Our research reveals that while experience, loyalty and progression within a company are common amongst the FTSE 100 CEOs, there is no single formula for reaching the top. Whereas some CEOs bring decades of industry experience, others arrive from outside the company and have relatively short tenures before stepping into the leadership role. This diversity highlights that the journey to becoming a CEO is varied, and for aspiring leaders, the key to reaching the top is clear - develop broad experience, stay adaptable and be open to different pathways. As the business landscape evolves, with younger, tech-savvy talent emerging globally, it will be interesting to see how these trends shift and shape the CEOs of tomorrow. Methodology Using LinkedIn, we collected data from FTSE 100 CEO profile pages. Where needed, years of service were rounded to the nearest whole year. We collected data using all publicly available information - in some instances, some gaps may exist where certain details were unavailable due to inconsistencies, such as profiles not being updated. Any FTSE 100 CEOs without LinkedIn profiles were removed from specific data gathering. Recommended Readings

Explore which companies own the most companies, and understand which sectors dominate as the largest owners of businesses. The companies owning the most companies 10 min read Business Trends Table of Contents Categories Which companies own the most companies? Which industries control the business world? The businesses owning the most companies by industry Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office In business terms, a subsidiary is a noun, meaning a company controlled by a holding company. To you and me, that’s one company owning another. It’s very common for large corporations to buy out or merge with other companies either in their space or in a new environment as part of a business plan to grow and dominate. It would be a popular thought that the likes of Google, Apple or Amazon own the most companies given their market value, but you’ll be surprised. Using the OECD-UNSD multinational enterprise data set, which examines the largest 500 multinational enterprises, we’ve conducted a study to determine which own the highest number of other businesses and which sectors they belong to. Which companies own the most companies? When looking at the companies that own the most companies, we found there to be plenty of names you’re likely to know, but also some that may surprise you. Vinci SA, a world leader in concessions and energy services, ranked first, owning close to 4,000 subsidiaries - over 1,000 more than second-ranked HCA Healthcare Inc. Vinci SA operates in more than 120 countries, has over 285,000 employees worldwide and has driven more than $70 billion in revenue. Several familiar brands also appear in the top 10,, including the likes of Lloyds Banking Group PLC, Shell PLC and Volkswagen AG. Which industries control the business world? Taking a closer look at the data, we analysed which industries have the largest share of control over businesses. In total, 65 of the top 500 companies belong to financial services brands. Given the nature of finance and understanding of tax, growth and acquisitions, this is not a surprise. Germany's multinational financial services company Allianz SE leads in the sector, owning more than 1,900 brands. Energy falls second, with 42 of the top 500 companies, with technology falling in third. The businesses owning the most companies by industry Below, we’ve broken the data down further, understanding which companies own the highest number of companies by industry. Sectors we looked at include financial services, banking, automotive, pharmaceuticals, oil and healthcare. Financial services Parent company No. of subsidiaries Allianz SE 1,919 BNP Paribas SA 1,725 Credit Agricole SA 1,557 KKR & Co Inc 1,498 Blackstone Inc 1,446 Banking Parent company No. of subsidiaries Lloyds Banking Group PLC 2,116 HSBC Holdings PLC 833 Bank of Nova Scotia 236 American Express Co 170 Bank of New York Mellon Corp 167 Automotive Parent company No. of subsidiaries Volkswagen AG 1,824 Mercedes-Benz Group AG 425 Tesla Inc 406 Mitsubishi Corp 368 Toyota Motor Corp 351 Pharmaceutical Parent company No. of subsidiaries Merck & Co. Inc 626 Johnson & Johnson 476 IQVIA Holdings Inc 470 Pfizer Inc 408 Dow Inc 354 Oil Parent company No. of subsidiaries Shell PLC 1,840 BP PLC 1,159 Eni SpA 566 Saudi Arabian Oil Co 475 Rio Tinto PLC 439 Healthcare Parent company No. of subsidiaries CVS Health Corp 685 Abbott Laboratories 575 Medtronic PLC 391 Centene Corp 390 Becton Dickinson and Co 342 Finance and energy sectors dominate - but will technology catch up? As shown by our data, it’s not the typical tech giants that have the most control of businesses; it belongs to companies in the financial and energy sectors. Are we to see a shift in the future here? Possibly, given the growth of tech companies in recent years, something we’re sure to keep an eye on. Methodology Using the OECD-UNSD multinational enterprise information platform, we looked into the latest data on the total number of subsidiaries per parent company. We then grouped each company into an industry to determine which are the most common. Recommended Readings

Discover the perfect dog walking business name with our suggestions and guide to creating a name. Stand out in the industry and attract clients effortlessly. A Guide to Finding a Dog-walking Business Name 10 min read Beginner's Guide Table of Contents Categories How to choose the perfect dog walking business name Understanding your brand identity Brainstorming business name ideas Evaluating and refining name options Leveraging naming resources and tools Legal and practical considerations 10 example dog walking business names Register your dog walking business with SUAZ for free today Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office So, you’ve decided to start a dog-walking business? Congrats! Financial freedom, job satisfaction and endless opportunities await you. But before you grab your wellies, leash and dog waste bags (so glamorous), you’ll need to come up with some good dog walking business names to help you get noticed. With the amount you have to organise when starting a business, it’s likely that you’ve left your business name until the last minute. But don’t panic - we’ve put together this guide to choosing dog walker business names to inspire you. Our tips and tricks can help you generate a unique and memorable business name that reflects your brand and business mission, and helps you stand out from the crowd. How to choose the perfect dog walking business name Your business name is more important than you may realise. It’s a key element of your business’ identity and is the first thing your potential customers see - so you’ll want to set aside some time to brainstorm your ideas. Deciding on a winning business name doesn’t need to feel im paws ible. Here are just some ways to get you feeling inspired and embracing your creativity. Understanding your brand identity Brand identity plays a crucial role in your business’ overall brand and marketing strategy. Before you start brainstorming the best dog-walking business names, you’ll need to pinpoint your brand identity - all the unique characteristics that influence your brand’s appearance, personality and overall image. Building your brand identity is a lot like a novelist choosing the traits and key attributes of their main character. Your brand identity is your chance to personify your brand, get creative and differentiate your business from its competitors. Try and think of some unique selling points (USPs) that set your business apart from the rest, what your brand stands for and your communication style - how you’ll talk to your customers. Your brand identity encompasses all the visual elements of your brand too, such as your logo, the colours you use and of course, your business name. Having a strong, consistent brand identity can help potential customers spot your business among the crowd and recognise it again in the future. You can build trust with potential customers and eventually build a loyal customer base that returns to your business time and time again. Brainstorming business name ideas For some, coming up with a business name is the most exciting stage of entrepreneurship - allowing you to flex your creative muscles and put a name to all your hard work. Whereas for others, the thought of brainstorming business names may feel like the hardest step in your journey. Some creative ways to brainstorm business name ideas include: Word association: A simple and effective way to get your brain in gear, word association can help you generate business name ideas by thinking of words that you associate with others. First, write down key words that relate to your business such as ‘walking’, ‘dogs’, ‘paws’. Next, list words you associate with each of the core words, such as ‘puppy’ next to ‘dogs’ and ‘outdoors’ next to ‘walking’. Finally, you can try to mix and match your words to create potential names! Mind mapping: Mind mapping can be a great way to visualise the connections between different ideas, allowing you to come up with ideas you wouldn’t otherwise consider. First, write ‘dog walking business’ in the centre of the page. Next, draw branches around for different aspects of your business, such as the services you’ll offer and the values or benefits you hope to demonstrate. From there, you can expand each branch with related terms to then combine your ideas. For example, a branch under ‘values’ might be ‘flexible’ which you could combine with the service ‘walking’ to get ‘Dog Walking, Your Way’. Rhyming and wordplay: You’ll want to choose a business name that’s memorable, so customers return to your business in the future. Using alliteration, rhyme or puns can be a great way for customers to remember you. First, list simple, core words that relate to your business such as ‘walking’ or ‘dogs’. Next, look for words that either start with the same letter or rhyme. You can then combine these words to have a creative, out-of-the-box name like ‘Hounslow’s Happy Hounds’ or ‘Walk Your Wagger’. Acronyms and abbreviations: Using an acronym can make your business name unique and personal to your business’ values. First, list the key elements of your business - for example, you may have ‘professional’ and ‘walking’. From there, you can use the first letters of each word to form your acronym. Make sure your acronym makes sense, is memorable and easy to say! An example is ‘PAWS - PAws itive Walking Service’. Asking yourself the following questions can help you pinpoint your dog walking business name too, by focusing on exactly what your business will offer. Will you exclusively offer dog walking services, or will you provide other services too such as grooming? If so, make sure your name encompasses all the services you look to offer. Would you prefer for your business name to be creative and playful, or would you prefer for it to reflect your company’s professionalism? Do you want to position yourself as the biggest and best, or would you prefer to be a smaller, more luxury-type business? Are you hoping to expand to other areas? If so, you may look to avoid choosing a location-specific name in case you expand your business further afield. Evaluating and refining name options Next, you’ll need to evaluate your list of potential dog walker business names, based on the following factors, to ensure the name is suitable for your new business and reflects the nature of your brand. Relevance: Make sure your potential business name aligns with the nature of your business or industry. Your potential clients or customers should be able to tell you’re a dog-walking business , for example. Also consider your target audience and ensure that your name resonates with them. Memorability: Having a business name that is easy to spell and pronounce and spell, is more likely to be remembered. Uniqueness: Ensure your name stands out from your competitors. It can be tricky finding a unique name, but the more original your name is, the less likely it’ll be confused with other brands. Domain availability: If you plan to have a website for your business, you’ll need to make sure a corresponding domain name is available for your business name. A matching ‘.com’ or ‘. co.uk ’ domain is ideal, but alternatives like ‘.net’ and ‘.org.’ may work too. Name availability: You’ll need to make sure your business name isn’t already taken. You can verify the availability of your business name through our handy name checker - talk about convenient! It’s also worth doing a quick search yourself on major social media platforms like Instagram and LinkedIn, to ensure it’s available when you start promoting your business across social media. Leveraging naming resources and tools If you’re struggling for inspiration or simply need a nudge to get the creative juices flowing, you can make use of online resources and tools designed to help entrepreneurs generate business name ideas. Google is your best friend when it comes to business name ideas, and brands like Shopify and Wix have their own AI-powered business name generators you can try out. Legal and practical considerations While there’s no legal obligation to trade mark your business, there are benefits in doing so. Registering your business name as a trade mark can offer legal protection by ensuring no one else can trade under your business name in your sector. You can use the government’s trade mark checker to make sure there’s no trade mark similar to your brand that already exists in the UK. Once you’ve decided on your business name, you’ll need to officially register your business with Companies House. You can register your business with Companies House yourself for a £50 filing fee, or alternatively, you can let SUAZ take care of things for you. We’ll cover the £50 incorporation fee for you and you’ll get hands-on support every step of the way. We offer several, professional company formation packages to help you get your business up and running, which can offer you peace of mind in knowing everything is taken care of. 10 example dog walking business names Now it’s time for us to share some of our creative (or terrible, it’s all subjective…) dog-walking business name ideas. We’re certain yours will be much more impressive, but here are some examples of good dog-walking business names to get you started. Tail Wagging Treks The Dog Walker’s Delight Your Canine Compass Fetch and Go Wag ‘n’ Walk Pawsitive Strides Strutting Mutts Hiking Hounds Woofing Wanderers Doggy Dashers of Dorset Register your dog walking business with SUAZ for free today An impressive dog-walking business name can set the foundation for success and help you establish a strong brand presence in the dog-walking industry. While starting your own business is sure to be your most exciting adventure yet, it’s also a lot of work. Why not let SUAZ take care of the complicated stuff? Our company formation service can handle the admin and legal aspects of your new venture, with support every step of the way. That leaves you to focus on the most important thing - your life-changing next chapter. What are you waiting for? Form your company today with SUAZ. Recommended Readings

While there’s no legal requirement to use an accountant for a limited company, find out how a qualified accountant can reduce tax fines and risk of liability. Do I need an accountant as a limited company? 12 min read Company Formations Table of Contents Categories How can an accountant help a limited company? Company tax return Filing annual accounts Advise on accounting software Bookkeeping VAT returns Payroll Reduce room for error Reduce tax Is it worth getting an accountant for a limited company? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Starting a limited company comes with a lot of big decisions to make, especially around your financial responsibilities. From tax filing to legal and compliance requirements, there’s a lot to get your head around, especially if you’re new to entrepreneurship. If you’re asking the question ‘Do I need an accountant as a limited company?’, chances are it could benefit you. In fact, a whopping 92% of SMBs use the service of an accountant , with half of them using their services at least weekly. Using an accountant can alleviate any worries you may have about managing your business’ finances, so you can focus on the exciting stuff like steering your business towards success. We’ve put together this blog which covers the role of accountants for limited companies, the key benefits they can offer and whether it’s worth the investment for your new enterprise. How can an accountant help a limited company? Starting your own business often requires you to wear several hats, especially to begin with. You’ll be figuring out how to market your product or service, becoming your own boss and running the day-to-day operations. Another key responsibility is managing the financial side of the business, which can feel daunting. Just some of the financial responsibilities you’ll need to take care of as a business owner include: Dealing with Corporation Tax: Calculating and paying your Corporation Tax is an important responsibility - should you miss a deadline or make an error, you may need to pay a penalty. End-of-year accounts: You’ll need to prepare and file your annual accounts with Companies House and ensure they comply with accounting standards. Managing VAT returns: You’ll need to manage VAT invoices, calculate VAT due and submit your returns to HMRC. You’ll usually need to submit a VAT return to HMRC every 3 months, known as your accounting period. Your company’s payroll: If you have employees, you’ll need to take care of your company’s payroll. This involves calculating income tax, National Insurance Contributions (NIC), and making sure your employees are paid the right amount on time. Handling HMRC and Companies House filings: You’ll need to keep up with your Companies House and HMRC filings to stay compliant with legal requirements. Your personal tax return: You’ll need to submit a personal tax return each year which can feel complicated, especially if your income includes money from other sources or dividends. Your annual confirmation statement: You must file a confirmation statement at least once a year to ensure the details Companies House holds about your company are up to date. Ongoing bookkeeping: Keeping records of all your transactions and bank statements as a business is key for financial health and compliance. Quite the list, isn’t it? These tasks may sound unnecessary or time-consuming, but are crucial for running a successful business and ensuring you adhere to legal requirements. But you’ll be relieved to hear, should you choose to hire an accountant, the above will all be taken off your hands. Working with a finance professional means you can delegate these responsibilities to an expert who has the knowledge and experience to manage them correctly. This can alleviate any fears of filing something wrong or missing a deadline, so you can solely focus on growing your business. So, if you’re asking ‘Can I do my own accounts for a limited company?’, the answer is yes, but you may benefit from trusting an expert to take care of the financial side of things for you instead. We’ll cover the ways an accountant can help you in more detail below. Company tax return While you don’t legally need an accountant to help file your tax return, having one can give you the peace of mind that all the boxes are ticked and no mistakes have been made. They can help you file your company’s tax return by accurately calculating your company’s profits, expenses and any allowable deductions. They’ll ensure all of your financial records are organised correctly, and use this information to calculate how much corporation tax you owe. Accountants are well-versed in all areas of tax, so are confident in handling complex tax calculations. This can be a major time saver, especially as a new business owner with a never-ending to-do list! An accountant can free up your resources, so you can focus on the important and more exciting stuff like marketing your business and keeping clients happy. Filing annual accounts As a limited company , filing annual accounts is a crucial responsibility and should you miss a deadline, you may need to pay a significant penalty. Hiring an accountant will ensure that your annual accounts are prepared correctly and filed on time, so you can avoid those costly late submission fees. Just some of the ways an accountant can help with filing annual accounts include: Sticking to deadlines: As a business owner, you’ll likely have endless things to remember, making it easy to forget filing deadlines. Your accountant will prepare your annual accounts well in advance, so you don’t need to worry about missing the deadline. Avoiding late fees: As mentioned, if your accounts are filed late Companies House will impose automatic penalties starting at a whopping £150 for being just one day late . These penalties increase significantly the longer the delay. Hiring a professional means you won’t worry about missing a deadline and being out of pocket. Trusting an accountant to file your annual accounts means you can focus on running your business with the peace of mind that your accounts are all taken care of. You’ll know you comply with legal requirements and won’t face any unnecessary fines. Advise on accounting software Accounting software can streamline repetitive tasks such as invoicing and payroll, saving you time and minimising the risk of errors. Reliable software allows you to access your real-time financial data and make informed business decisions. Accountants are experts in their field, so you can trust their opinions when it comes to choosing the best accounting software for your business. Given their background and expertise, as well as their understanding of your business’ needs, they can recommend software that best suits you. You’ll know that your chosen financial management tools aren’t just effective but also the right choice for your unique business’ needs. Bookkeeping Bookkeeping is a vital aspect of business management and can be time-consuming and complicated at first. That’s where an accountant can help. They can handle your day-to-day bookkeeping tasks, from preparing financial statements to recording transactions. You’ll never need to worry about your financial records not being accurate or compliant, as you’ll be working with an experienced professional. Trusting an accountant to handle your bookkeeping responsibilities can streamline your bookkeeping processes, ensure your books are updated regularly and help you plan for future investments. Perhaps you’ll look to expand your business or buy new equipment - your accountant can take a look at your accounts and help you plan for your financial goals. VAT returns Value Added Tax (VAT) is an important financial obligation for many businesses. As a business, you need to register for VAT if your VAT-taxable turnover exceeds £90,000. You can also choose to register for VAT if your turnover is less than £90,000. As a VAT-registered business, there are several conditions you must adhere to such as keeping records of how much VAT you pay for things you buy for your business, reporting the amount of VAT you charge your customers and the amount of VAT you pay to other businesses. Your accountant can ensure that your business handles VAT correctly, pays it on time and ensures you avoid any fines or penalties. They’ll track VAT on any applicable transactions and make sure your business claims all allowable VAT. They’ll also ensure that you meet each VAT return quarterly deadline. Payroll Regardless of the size of your company, managing your payroll correctly is crucial. Payroll management involves making sure your employees are paid accurately and on time, as well as ensuring the correct amount of tax and National Insurance is deducted and paid to HMRC. Here are just some of the ways an accountant can support you with payroll management: Paying your staff: An accountant can calculate the correct wages for all your employees, including the more complicated stuff like overtime and bonuses. PAYE (Pay As You Earn): Your accountant will handle the tax side of things, making sure the correct amount of income tax is deducted from employees’ and directors’ pay under the PAYE system. Meeting deadlines: Accountants ensure everyone is paid on time and also make sure all tax and NIC payments to HMRC are delivered on time, so you won’t need to worry about any late fees or penalties. Reduce room for error An accountant’s job is to do the finance side of things correctly. This means you won’t need to worry about making a mistake on any important forms, missing a deadline, or misreporting information. They’ll double-check your financial data before it’s submitted to Companies House or HMRC and also handle any complex transactions to give you the reassurance that they are taken care of correctly, in line with tax laws. Speaking of tax laws - these regulations frequently change and it can be tough to keep up with as a business owner. With an accountant, you won’t need to worry about keeping up to date with the latest tax legislation - that’s their responsibility. You’ll have the peace of mind that you’re always compliant with any new rules or changes. Reduce tax A key benefit of working with an accountant is their understanding of tax rules and how you can minimise your tax as a business. They can advise you on any potential tax deductions, such as making the most of your director’s pay by paying yourself a smaller salary and taking the majority of your income as dividends. They can also explain which deductible business expenses you’re entitled to claim, such as office costs and travel expenses. With an accountant’s support, you’ll know the most tax-efficient way to pay yourself as a business owner, as well as any changes in tax law that may affect your business. Is it worth getting an accountant for a limited company? It’s understandable to want to keep costs down when starting a new business. But hiring an accountant for your limited company could save you significant money long term. When it comes to managing complex financial tasks such as tax returns and ensuring compliance with legal requirements, an accountant can be a huge asset to your business. An accountant’s expertise can save you time, be a source of knowledge and prevent any errors that could cost you significant money in penalties. It sounds like a worthy investment to us. Looking for the right accountant for your business? Our business partner, BSC, can match you with an accountant that understands your business needs. Alternatively, if you’re thinking of taking the leap and starting your own business, SUAZ is here to help. With us, you can form your company for free (yes, really!) and we’re here to support you at every stage. Form your company with SUAZ today and experience a journey like no other. Recommended Readings

Want to make sure your new pub or bar is going to be profitable and a success? Learn how to write a business plan in 11 steps for your new hospitality venue. Learn how to write a pub business plan 12 min read Beginner's Guide Table of Contents Categories Creating a business plan for a pub or bar Add a description about the company Company analysis and market data Outline your product offering Staff - recruitment and costs Payment processes - cash or card Internal processes Business equipment Licences and insurance Marketing plans and strategy Include a financial forecas t Ready to call the shots? https://www.suaz.co.uk/knowledge-base/how-much-does-it-cost-to-start-a-business https://www.suaz.co.uk/knowledge-base/how-much-does-it-cost-to-start-a-business Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Opening your own pub is an exciting venture brimming with possibilities. If you have what it takes to open a pub that’s sure to be lager than life (get it?), you’ll need a solid business plan to bring your ideas to fruition. Your pub business plan acts as a business roadmap, to outline your business goals and financial projections. Whether you’re looking to open a lively gastropub or a cosy countryside hotspot, learning to write a business plan for a pub is key to long-term business success. You won’t want to call last orders on your business idea - a solid business plan can hold you accountable and keep you motivated through any obstacles that come your way. In this guide, we’ll walk you through all the essential steps to writing a business plan, covering everything from market and customer research to recruitment. You’ll soon be calling the shots ! (Okay, we’ll stop with the pub puns for now…) Creating a business plan for a pub or bar Your executive summary is the first section of your pub business plan. You can think of it a lot like the contents page of a book, there to provide an overview of what the reader can expect as they read on. You should include your mission statement, highlighting your business’ values, goals and unique selling points (USPs). You should aim to include a brief summary of the following: The type of pub you plan to open, including the concept and location Your business’ mission statement, goals and objectives Your target market and competition The owners and staff, their skills and background An outline of financial projections for the first three years An implementation plan - how you’ll take your business idea and turn it into a thriving bar or pub Add a description about the company The company description is a vital section of your business plan, providing a clear and concise overview of your new business. You can use the five Ws formula to approach writing your business description. Who is starting the business? What kind of pub or bar are you looking to open? Where will it be located? You’ll want to touch on when you hope to kick things off. And most importantly, why are you opening your pub or bar? This approach allows you to dive deeper into your motivations for starting a business and exactly what you want to achieve. Finally, you’ll need to decide on your business structure - whether you’ll operate as a sole trader or limited company , so potential investors understand how your business is structured and the part they’ll play. Our guide to registering a limited company explains how company formation works and what you need to know. Company analysis and market data In this section of your pub business plan, you’ll need to analyse your pub’s position within the market, your potential competitors and your target audience. You may already have competitors in mind, such as popular pubs or bars in your area. Or perhaps there aren’t any pubs or bars near you that have left you inspired and you’ve identified a gap in the market. Either way, it’s important to do your research on competitors in your industry and identify their strengths and weaknesses. Once you have your list, you can look for gaps in the market that your business could fill. For example, there may be a growing demand for local beers or upmarket cocktail bars near you. You should then use your business plan to explain how your pub will stand out from the crowd, such as the local beers you’ll sell, the exceptional service you’ll deliver or the cosy atmosphere you feel the local area is looking for. From there, you should analyse your target market: the customers you’re looking to attract. Describe the demographics, interests and preferences of your ideal customers and how your pub or bar will appeal to them. Make sure your market analysis ties back to your mission statement - for example, if your business mission is to create a local pub that celebrates community, your target audience should reflect this by being those who live locally and enjoy spending time with their friends and family. Outline your product offering Food and drink is the heartbeat of pubs and bars - without it, they simply wouldn’t exist. It’s what makes them unique compared to other hospitality venues. The quality of your menu won’t just attract potential customers, but investors too. That’s why detailing what your pub or bar menu will look like in your business plan is so important. List everything on your menu, with descriptions of ingredients and suppliers - especially if you pride yourself on local produce or sustainable practices. You can even include photos of your dishes and drinks to capture the attention of potential investors. Make sure to explain how your product offering is unique and different from your competitors, to tie back to your awareness of the market and how you’ll attract customers. It’s also worth mentioning any ways you’ll look to grow your business, such as hosting events, quiz nights, sports nights or even a bit of karaoke (you either love or hate it, right?). Chances are you’ll be selling alcohol on your premises, so getting an alcohol licence is vital. To apply for a premises licence, you’ll need to complete an application form. If your council accepts electronic applications, you can submit this online, or alternatively you’ll need to send it by post. Check out the government’s guide to alcohol licensing for more information. Staff - recruitment and costs Recruiting the right people is essential to the success of your pub or bar, as your team will be the face of your business and will shape the customer experience you deliver. Your staff are likely to be one of your biggest overheads as a business, so it’s important that you detail how many people you’re looking to hire, their roles and how much they’ll be paid. Next, explain the approach you’ll take to recruitment. How will you source staff? What experience, qualifications and skills will you expect from candidates? If you plan on investing in employee training programmes, explain what they are, how much they’ll cost and how they’ll benefit your staff and your business. Payment processes - cash or card In this section, you’ll explain your chosen payment methods and whether your pub or bar will accept both cash and card, or operate as card only. If you do choose to go cashless, make sure you outline the advantages of doing so such as faster service and better security. When deciding on your payment options , it’s important to consider your target audience. For example, older customers may prefer the flexibility of paying with cash, whereas being a card-only business isn’t likely to bother younger customers. By detailing your payment processes in your pub business plan, you’ll clearly explain how transactions will be handled securely, which contributes to a strong customer experience. Internal processes Next, you’ll need to explain how your business processes will work day to day, to keep your pub running smoothly. A key area to cover is stock management and how you’ll ensure you have a well-stocked inventory to minimise waste. Explain how regularly you’ll conduct stock takes and whether you’ll use an inventory management system to track stock levels and prevent shortages. It’s also important to mention how you’ll manage your staff, such as how you’ll schedule shifts to cover busier periods, without overstaffing during quieter days. You may choose to use an online scheduling system to help with shift planning, or a clock-in/clock-out system to accurately record attendance. Business equipment Your pub will rely on various types of equipment day to day, from glassware and kitchen appliances, to furniture like tables, chairs and bar stools. Make sure to detail the equipment your business will need to get set up and how much you expect this to cost. If you plan to offer entertainment, such as showing live sports, you’ll also need to invest in TVs and subscription services like Sky Sports. Depending on your big plans, you may need other entertainment equipment too, such as speakers and music equipment. Detailing all of these equipment costs in your business plan is essential for budgeting, and showing potential investors that you have the funds to secure your equipment needs and have factored in any additional costs. Licences and insurance In this section of your business plan, you’ll need to cover any licences and insurance your business will need to operate legally and safely. As mentioned earlier, you’ll need to secure an alcohol licence, so it’s important to explain how you’ll apply for this. You may also need a music licence to play music in your pub or bar - this is because music is protected by copyright and playing it without a licence is considered copyright infringement. Next, you’ll need to explain your approach to acquiring the right business insurance to protect not only your business, but any employees you’re looking to hire. You may need public liability insurance, to protect yourself from any claims from customers, and employer’s liability insurance to protect your staff members. Detailing these insurance requirements in your business plan demonstrates to readers that you’ve considered any legal obligations and are prioritising the protection of your business long-term. Marketing plans and strategy It’s important that you demonstrate to banks and potential investors how you plan to market your pub or bar to attract customers and raise awareness. Without getting your business’ name out there, how will potential customers know you exist? This section of your business plan should outline your marketing strategy, and how you’ll use both digital and traditional marketing methods to promote your business. What channels will you use to target customers? If you’re looking to attract a younger demographic, you may turn to Instagram to promote any events or drinks offers to get your business’ name out there. You may also run targeted paid ads across social platforms to reach local audiences, and could also optimise your Google My Business profile to improve your visibility in local searches. While digital marketing is a powerful tool, it’s important not to underestimate the power of traditional marketing methods such as local newspaper ads, flyers and posters which can be an effective way to draw in the local community. Make sure you include cost estimates of your marketing plan, such as the expected costs of social media marketing, the printing of your promotional materials and any campaigns you plan to run. Remember to highlight the benefits of this cost and how it will attract and retain customers long term. By including your marketing strategy in your business plan, you’ll demonstrate to readers that you have a plan for reaching and retaining your target audience and driving business growth. Include a financial forecast The final step in your bar business plan is explaining your financial forecast, including a detailed overview of your cash flow projections. You’ll need to cover not only your startup costs, but an estimation of your ongoing operational costs too, to keep your business running smoothly. Firstly, outline your startup budget - all the costs you anticipate from essential equipment (POS systems, appliances and furniture), to a solid inventory of drinks, food and other supplies. Make sure to cover any additional costs we mentioned earlier such as licences, marketing costs and insurance. When covering your cash flow, it’s important to include any staff expenditures too, such as their wages, training and employer contributions. Make sure you budget for any overtime and benefits such as holiday and sick pay. Once you’ve covered your outgoings, you’ll need to detail how you’ll fund these costs, whether that be through a loan, investments or savings. Clearly explain how you’ll use these funds and how they will contribute to your business growth over time. You can then tie this into your cash flow projections and your forecasted profit and loss (P&L) statements. Your cash flow should show how your business will manage its finances each month, balancing the income you make with ongoing expenses. Your P&L statements will demonstrate your long-term plans, and when you expect your business to break even and become profitable - giving potential investors confidence in your business plans and growth potential. Ready to call the shots ? A solid business plan is crucial for the long-term success of your pub, serving as your entrepreneurial guidebook that covers everything from your marketing plans to your financial projections. By outlining your business plans, motivations and goals, you’re well on your way to earning the trust and confidence of potential investors in your business’ growth and success. If you’re feeling ready to kickstart your business journey, Start Up A-Z is here to support you. With us, you can form your business completely free of charge, and you’ll have the support you need at every stage of your journey. We believe you have what it takes to thrive. Recommended Readings

Read the answers to frequently asked questions freelancers have as you start up your own business. Get insights and advice to help you navigate freelancing. Frequently asked questions on freelancing 10 min read Beginner's Guide Table of Contents Categories How to manage clients as a freelancer How to get clients How to build relationships with clients How to inform clients of price increases How to deal with difficult clients Invoicing as a freelancer How to write an invoice for freelance work How long does a client have to pay an invoice What to do if a client doesn’t pay an invoice Accounting for freelancers Do I need an accountant as a freelancer? How much does an accountant cost for a freelancer? Writing contracts as a freelancer What is a freelancing contract? How to make contracts as a freelancer Do I need to send a contract as a freelancer? Getting set up as a freelancer How do I declare myself as a freelancer in the UK? Do I need to register my business if I earn less than £1,000? Do I have to declare freelance income in the UK? Do freelancers pay VAT in the UK? Take your freelance career to the next level with SUAZ Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Stepping into the freelancing world can feel daunting. You’ll be in the driver’s seat for the first time, with the freedom to pursue any job or project that catches your eye. But knowing where to start can feel like a minefield. If you’re asking questions like ‘How to get clients?’ and ‘What should be included in a freelance invoice?’ there's no need to panic - these frequently asked questions are only natural and it won’t be long until you feel confident in your abilities. To ease any worries or confusion you may have, we’ve put together this complete guide to answer frequently asked questions on freelancing. We took a focus group of professionals across a range of industries to identify the most common problems freelancers face when starting out. We also looked into the most asked questions on the topic by search volume, and People Also Ask boxes within search engine results. Read on to understand how to handle common challenges as a new freelancer, with expert advice from an experienced freelancer to equip you with the knowledge to succeed in your new venture. Contents Clients - how to get them, how to build relationships, how to deal with late payments Invoicing - how to write an invoice, what should be included in an invoice Accounting - do you need an accountant as a freelancer, how much does an accountant costs Contracts - do I need to send a contract as a freelancer, how to make contracts as a freelancer General business - how do I declare myself as a freelance UK, do I need to register my business if I earn less than £1,000, do I have to declare freelance income UK How to manage clients as a freelancer Managing clients effectively is a crucial skill you’ll need to learn as a freelancer. Whether you’re a freelance graphic designer, copywriter or consultant, how you handle client interactions and manage expectations can make or break your freelance business. Below, we’ll uncover key strategies for client management so you can build long-lasting client relationships to be proud of. How to get clients Without clients to your name, you won’t have a source of income as a freelancer. But how do you actually secure clients and projects? There are numerous ways you can find new clients and opportunities , including: Attending industry talks and events Cold pitching, whereby you reach out to potential clients and propose your services and solutions to them Use social media platforms such as X and LinkedIn to broadcast your skills and expertise Reach out to your network for recommendations Build an impressive website that showcases your work and services Aliyah Loughlan , Freelance Digital PR Consultant, says: ‘ The best way to get clients is to join different online communities and groups. Anything from freelance Slack groups and specific freelancing platforms such as Croud, to Facebook groups. Don’t forget word of mouth is a great way to gain your first few clients too - doing good work for your first client will help get your second and third clients. ‘Remember to pay it forward too - a client or project might not fit your set of skills, so pay it forward to another freelancer, and another opportunity may come back your way in the future!’ How to build relationships with clients Landing your first client is a big deal and something to be proud of, so you’ll want to encourage them to stick around for the long haul. The stronger your client relationships are, the more likely you are to secure repeat business and receive valuable referrals and feedback. It’s all about consistency when it comes to clients - whether that’s in terms of the quality of your work or the regularity of your meetings. Make sure you consistently check in with them and be honest about how things are going, any issues that crop up and how you plan to solve them. Schedule regular meetings (weekly or biweekly) to update them on your progress with the project you’re working on, and always aim to meet deadlines. By establishing clear expectations and communication, you’ll ensure client satisfaction and develop a strong working relationship. How to inform clients of price increases You may need to increase your rates for a variety of reasons. Inflation or economic change is an obvious but important factor - as inflation rises, your salary declines in value, so it’s vital your rates match inflation so you’re being rewarded for your hard work. But you may also find a project is taking longer than expected and you lose money as a result, or that the quality of your work has increased as you’ve built experience, and you need your income to reflect that. Informing clients of a price increase is a delicate but important discussion. Make sure you give clients plenty of notice before your new rates kick in, and choose the right medium to tell them. Depending on your relationship, you may choose to let them know via email, or you may prefer to discuss in person or over a call. Explain the justification for your increased rates - focus on the value you deliver and also express your appreciation for their business. Approaching the situation with honesty and professionalism is key to maintaining strong client relationships. How to deal with difficult clients What you consider a ‘difficult’ client could mean many things - they could have a negative attitude, be particularly fussy when it comes to amends, or simply take too long to respond to emails. While difficult clients can leave you feeling frustrated, especially if they’re affecting the quality and delivery of your work, it’s important to see both sides. Try and understand where your client is coming from and remember they have their own business objectives and deadlines to hit. But it’s also vital that you stand firm should you believe you’ve done the right thing. Here’s a step-by-step approach to dealing with those tricky clients: Hold a meeting with the client to address the issue at hand Put together practical next steps that will resolve the issue and ensure you’re both in agreement Check in afterwards to ensure both of you are happy with the outcome and the plan moving forward Invoicing as a freelancer Invoicing is a vital part of freelance admin, acting as a record of your hard work and a request for payment. Getting it right ensures you’re paid quickly and keeps everything organised. Below are some key considerations for invoicing effectively as a freelancer. How to write an invoice for freelance work As soon as you’ve completed your first freelance gig, you can submit an invoice to your client. After all, the sooner you get the invoicing out the way, the sooner you can get paid! You can either produce an invoice yourself manually, or use a tool or template to make the process feel that bit simpler. Chances are you’ll find filling out a template easier, especially if you’re new to the freelancing world. Here is a list of the information you’ll need to include in your invoice: An identification number for the task you’ve completed Your name, address and contact details The company name and address of the client you’re invoicing A description of the work you’re charging for The date the service was provided The date of the invoice The amount(s) being charged VAT if applicable The total amount billed How long does a client have to pay an invoice According to the government, you have a right to be paid within 30 days of the client receiving your invoice, or the service you’ve provided - unless you’ve agreed to a payment date. Remember, you have the right to charge interest for late payments should you want to - whether you’re new to freelancing or not, you deserve to be paid as soon as possible. What to do if a client doesn’t pay an invoice A client refusing to or simply forgetting to pay can leave you feeling stressed - after all, you deserve to be paid for your hard work. Should a client not pay an invoice, you can take legal action against them to resolve the issue. But before you decide to take legal action, there are alternative routes you can take without needing to go to court. First, check if your client is likely to pay you. For example, if they have no money or assets to settle the invoice, action intended to make them pay will be tricky. You could search for their company profile in the Gazette for insolvency notices beforehand, to try and understand their financial situation. Requesting legal advice is often a sensible route in these situations, as you’ll gain professional advice on the options available to you. You could make an appointment with a solicitor or legal advice who can explain your options and what legal action may work best. Sending a solicitor’s letter may be enough for your client to pay the money they owe you, rather than getting the courts involved. Should you need to go to court to resolve the issue, it’s important that you have the following information to hand: Emails, letters or other proof that you’ve tried to negotiate or use mediation to get the client to pay you. You need to prove that you’ve tried other alternatives before going to court A letter to your client to warn them about the action you’ll take if they don’t pay. You may choose to use a solicitor to help you with this Accounting for freelancers Accounting is an essential but often complicated part of freelancing which evaluates the state of your finances. As a freelancer, you need to take care of your own finances such as your income, tax and business expenses. Below, we’ll cover how to manage accounting as a freelancer and the steps you can take to make financial planning feel straightforward. Do I need an accountant as a freelancer? Whether you need an accountant as a freelancer depends on how confident you are with your personal finances and your knowledge around business tax. If your business finances are fairly straightforward, chances are you might not need an accountant, at least not at the start. Aliyah explains: ‘ The simple answer is no. Unless you’re a really unorganised person, having an accountant when you begin your freelancing career isn’t necessary. Only until recently have I started to think about getting an accountant because I’m three years in and transitioning to a limited company and it gets a tad more confusing there.’ How much does an accountant cost for a freelancer? As we’ve said, as a new freelancer it’s unlikely you’ll need an accountant. But if you feel worried about handling the financial side of things, working with an accountant may alleviate your anxieties, especially if you’re looking to form a limited company. They can help you navigate your VAT returns, file your annual accounts with HMRC and Companies House and submit your tax returns. But how much does an accountant cost for a freelancer? According to Unbiased , for smaller businesses, you can expect to pay a monthly fee of anything between £60 and £450 depending on your turnover and where you’re located. If you’re looking to pay a one-off fee to help you handle your self-assessment tax return, you can expect to pay anything from £200 to over £300. Writing contracts as a freelancer Writing contracts as a freelancer is an integral part of the job, allowing you to clearly outline how you and your client will work together. A contract can help manage expectations, deliverables and payment terms, to minimise potential disputes. Below, we’ll answer some frequently asked questions about freelance contracts. What is a freelancing contract? A freelance contract is a legally binding agreement between a freelancer and their client that outlines the details of the relationship, and specific project or service. It lays out the scope of work, any deadlines to be met, payment terms and other important details to ensure both parties know what is expected of the relationship. How to make contracts as a freelancer Here are some of the key components of a freelance contract: Scope of Work (SoW): This section outlines the tasks and services you’ll provide for the client, including deliverables and deadlines Payment terms: This section will detail how and when you, the freelancer, will be paid. Remember to include the total amount billed, a payment schedule and any additional expenses End product ownership rights: This section will explain who owns the final work once it’s completed Terms and termination: This section outlines the duration of the contract and under what conditions it can be terminated by either party Competitive engagements: This section specifies whether you’re allowed to work for competitors of the client during or after the contract Non-disclosure, right to disclosure and confidentiality: This section explains any sensitive information shared between you and the client is kept confidential Changes: This section explains how any request for changes or revisions to the original scope of work will be handled Indemnity clause: This clause protects both you and the client from legal claims or liabilities that may arise from the project General clauses: These are additional terms that cover various elements of the contract, such as dispute resolution and any other standard legal provisions Party signatures: Finally, the contract will conclude with the signatures of both you and the client Do I need to send a contract as a freelancer? The simple answer to this question is yes - sending a contract as a freelancer is best practice. Not only is creating contracts (and other formal documents) a good habit to get into as a freelancer, it can also protect you from a legal perspective should your client look to exploit the amount of work they’ve paid for. Getting set up as a freelancer Embarking on your freelance journey can be exciting and empowering, but getting set up can be time-consuming. You’ll need to commit to planning and organising to ensure a smooth transition into the freelance world. Below, we’ve answered some frequently asked questions about getting started as a freelancer. How do I declare myself as a freelancer in the UK? Decided to start working for yourself? You’ll need to inform HMRC by registering for Self Assessment and then register as either self-employed (a sole trader) or a limited company. These two business structures have different tax obligations and admin requirements, which you can read about in our guide to limited liability . If you decide forming a limited company is the best route for you, you’ll need to register your business with Companies House. You can either register yourself for a £50 admin fee, or get a company formation agent like SUAZ to take care of things for you, completely free of charge. Do I need to register my business if I earn less than £1,000? If you earn £1,000 or less in a tax year as a freelancer, you won’t need to register your business with HMRC and declare your turnover. Do I have to declare freelance income in the UK? Unless you earn £1,000 or less, you’ll need to inform HMRC of your freelance income and complete a self-assessment tax return. You can file your Self Assessment tax return online . Do freelancers pay VAT in the UK? You’ll need to register for VAT if your VAT-taxable turnover is more than £90,000. If this is the case, you’ll need to charge VAT on your services and submit this money to HMRC. The standard rate of VAT in the UK is currently at 20%. Here's a guide on paying tax as a freelancer . Take your freelance career to the next level with SUAZ We hope this guide has answered any burning questions you may have had about freelancing. As we’ve mentioned, there’s a lot to get your head around when you start freelancing, from how to get clients to what to do if a client doesn’t pay an invoice. But with effective planning and determination, we’re certain you’ve got what it takes to thrive. Ready to embark on your freelancing journey? Form your business today with SUAZ to get started. Recommended Readings

Find out which trades have the highest success rate when starting a business, hear from skilled professionals and see the average day rate you could earn. The best trade to start a business 10 min read Beginner's Guide Table of Contents Categories The most successful skilled trade businesses The least successful skilled trade businesses Which trade makes the most money? Set up your own trade business Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Getting married and starting your own business have more similarities than you’d think. We’d say they’re up there with the biggest decisions you’ll make in life, both requiring deep commitment, shared vision, and hard work. Just as you’d have a list of green and red flags when choosing a partner, you’ll need to evaluate different trade business ideas to find the right industry for you. When starting a business, you’ll want to feel confident that it has a chance to succeed. This guide will uncover the best trade to start a business, by revealing which business type is most successful amongst startups. We’ve looked into Companies House data to find the success rates of different trade businesses. We’ve also found the average daily earnings per trade to offer insight into the earning potential and profitability you could soon secure. Wherever you are in life, it’s never too late to make your business dream a successful reality. Read on to learn the most profitable trade business ideas, so you can choose a sector that reflects your interests and talents, and boosts your bank balance too. The most successful skilled trade businesses On average, only 50% of startups last more than 3 years - which may sound disheartening, especially when you consider the investment and hard work that goes into entrepreneurship. But with plenty of preparation, a solid business plan and some self-belief, there’s no reason why you can’t start a business that thrives for the long haul. If you’re looking to boost your chances of business success, take a look at our guide of things to consider when starting a business , to help you survive past the three-year mark. When it comes to the best trade to start a business, plumbers took the top spot, with 58% of plumbing companies formed in 2021 still active today. Considering the plumbing industry brings in around £17.2 billion a year in the UK , it’s certainly a thriving industry to be a part of. Other top trade businesses that started in 2021 include glazing installers, with 57% of businesses still active today and carpenters with 53% of businesses still thriving. 52% of electrician businesses that formed in 2021 are still in business today, and landscapers are also top contenders, at 51%. Of course, becoming successful when starting a trade business isn’t all about money. There are several factors that can improve your chances of business success, including: A strong business plan: Your business plan is your entrepreneurial road map, there to guide you through the highs and lows of your business journey. A business plan is a written document, detailing every aspect of your business goals and how you’ll look to achieve them. If you’re looking to apply for a business loan, most banks will ask to see your business plan first to understand what you’ll use the money for. Creating customer relationships: Building and maintaining strong customer relationships can encourage customer loyalty and repeat business. Try to maintain regular contact with your customers through marketing, newsletters and social media so they feel valued and appreciated. Make sure you provide good, helpful customer service to create a positive customer experience. Good branding: Prioritising marketing and branding can help you create a strong brand that your customers recognise. Without it, your customers won’t know you exist! Use social media to your advantage to spread your business’ message and connect with a wider audience. Reputation in your local area: Your most loyal customers may be closer to home than you think. Connecting with locals can get your business’ name out there, as your customers may recommend your services to their network. Advertise your business locally and you’ll soon become the go-to tradesman for the job. Anthony Fiske , a self-employed carpenter for over 40 years, claims his customer relationships are the key to his success: “In my experience, my success on a longevity front has been down to the local relationships I’ve built within my community. I’ll be the first to say I’m not hugely into local marketing, using platforms like Facebook to advertise. Firstly, I rely on my skills to get a job done to a high level, and secondly how approachable I am to clients. “I ensure communication is always kept at the forefront of the project which I’ve found clients really value. My number one takeaway from being a self-employed carpenter of over 40 years is to treat every client like they’re your first. Go above and beyond. Build relationships and do the very best you can at every job. You’ll see the benefits as calls come years down the line from the same clients who need some more work. Don’t underestimate client relationships.” The least successful skilled trade businesses The pandemic forced us all to slow down and find new ways to keep busy - and for many, that was through DIY and home improvements. DIY activities saw a huge surge across the UK during that time, with building equipment sales increasing by 31.4% and paint by 47.1%, compared to the same period the previous year. With this in mind, it’s likely that new skills learnt during the pandemic have encouraged Brits to carry out home improvements themselves, rather than paying for an expert to help. In fact, a report from American Express revealed that 50% of DIYers said they were confident with their DIY skills following the growth of tutorial videos on social media. This surge in DIY home improvements may have a part to play in the least successful trade businesses. 61% of painter and decorator companies formed in 2021 have since dissolved, along with 49% of plasterer companies. There are likely to be several factors that have affected these industries and caused their closure. From rising material costs due to inflation and supply chain issues, to a reduced demand for these services, these DIY-specific businesses have taken a hit in the last few years. 53% of mechanic companies formed in 2021 have also closed, likely due to high running and startup costs affecting their sustainability. Which trade makes the most money? If you’re looking to start a business , you’ll want to ensure it has strong earning potential. Knowing which trade makes the most money can help you assess whether your trade venture is sustainable and profitable, and be enough to replace your current income. To help uncover the most profitable trade business, we’ve sourced the average daily earnings for popular trade professions from Checkatrade. While these are only estimated daily earnings, they should give an indication of the kind of income you could earn when starting your own trade business. Taking the top spot for average daily earnings were mechanics, at £480 per day, followed by electricians earning an average of £400 per day, and plumbers securing £347. Other profitable trade occupations include plasterers, glaze installers, landscapers and carpenters - all professions that require significant hands-on experience, training and knowledge. Some of the reasons these occupations are the most profitable may include: High demand: Many trade businesses provide services that are always in demand, such as mechanics and electricians. This need for skilled workers drives steady work and allows business owners a consistent income. Skills and expertise: Trade jobs often require significant technical knowledge, certifications and training. This makes these businesses irreplaceable, as your customers rely on your expertise and you can charge premium rates. Low overhead costs: As a tradesperson, you’re likely to have lower overhead costs compared to other types of businesses. This is because you won’t have a physical storefront, and your tools and equipment are typically one-time investments rather than ongoing costs. After-hours and weekends: You aren’t limited by the 9-5 as a tradesperson. In fact many skilled workers offer their services during evenings, weekends and holidays. You can often charge higher rates for out-of-hours services, further increasing your profitability. Set up your own trade business There sure is a lot to think about when starting a business, and the last thing you need is to worry about the sustainability and profitability of your new venture. We hope this blog gives you some inspiration and ideas of which are the most successful trades to consider. Ready to set up your limited company and take the business world by storm? There’s no time like the present. Check if your business name is available and let SUAZ help you with the rest. Recommended Readings

Learn how to start a successful pet transport business. From licences, cost, insurance and the vehicle, rest assured you’ll know what you need to get started. How to start a pet transport business 15 min read Beginner's Guide Table of Contents Categories Why do people need pet transport? How to become a pet transporter Get authorisation What qualifications do you need to transport animals? Make sure you’re covered by insurance Think about the type of pets you’ll work with Build out your business plan Factor operational costs Plan your distance to travel Marketing your business Ready to start your pet transport business? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office One thing’s for sure - we Brits certainly love our pets. In fact, more than half (57%) of UK households own at least one pet as of 2023, with cats and dogs taking the top spot for the most popular furry friends. But other animals make up the UK’s pet population too, including 1.5 million rabbits, 1.3 million indoor birds and 1 million domestic fowl . Pets are cherished family members who often need to travel as much as their owners. Whether it’s a house move, a holiday or a visit to a specialist vet further afield, the demand for pet transport services is on the rise. If you’re an animal lover looking to start a pet transport business, we’re here to teach you the ropes. We’ve put together this complete guide on how to become a pet transporter, so you have everything you need to get stuck into this life-changing and rewarding profession. Why do people need pet transport? Just as parents rely on childcare services to help balance their responsibilities, pet owners need a helping hand sometimes too. Pet parents may need pet transport services for multiple reasons. Here are just some reasons why owners may turn to a pet transport business for help: Relocating: Moving house is a tiring and often stressful job to begin with, and figuring out how a pet will be transported safely and comfortably can be a whole other challenge. Professional pet transport services can take the hassle out of moving pets, ensuring they’re moved securely and efficiently to their new home. Holidays: Pets shouldn’t miss out on the sea and sand, but some pet owners may find it difficult to transport their pets on holiday with them. As a pet transport business, you may offer a valuable solution - allowing pets to join their owners on their travels without the hassle. Adoption services: It’s not just pet owners that benefit from transportation services, animal shelters and rescue organisations may need help transporting animals to their forever homes too. Vet visits: Pets may need emergency treatment or a specialist procedure that isn’t available locally. Your business could relieve an owner’s extra worry of how they’ll get their pet to the veterinary specialist, by transporting their furry friend securely and comfortably. Elderly owners: Those who are elderly may struggle to transport their pet for its day-to-day activities, such as grooming or vet appointments. Your business could be the solution they’ve been looking for. How to become a pet transporter Starting a business is all about taking your passion and turning it into a successful and fulfilling venture. With hard work and perseverance, there’s no reason why you can’t build a thriving enterprise to be proud of. But before you dive headfirst into the world of entrepreneurship, it’s important to read up on exactly how to start a pet transport business in the UK, so you’ve covered all the bases. As you’d expect, if you’re looking to start a pet transport business, your customers will expect you to have experience handling animals. It’s also worthwhile reading up on the Animal Welfare Act and the duties you must follow when working with animals such as the prevention of harm and the promotion of welfare. Follow the steps below to ensure you’ve ticked everything off your to-do list to start a pet transport business. Get authorisation Depending on the circumstances, you may require authorisation from the Animal and Plant Health Agency to transport animals. For example, you’ll need a UK-issued transporter authorisation if you plan to transport animals over 65km by air, road, rail or sea in exchange for money. Once approved, your authorisation is valid for up to five years. If you’re transporting cattle, sheep, pigs, goats, horses, or poultry over 65km by road, you’ll need a certificate of competence. You’ll receive this from an accredited course provider for training and assessment, such as City & Guilds. Once received, you’ll need to carry your certificate when transporting animals and show it if requested. What qualifications do you need to transport animals? If you’re looking to boost your reputation and prove your commitment to animal welfare, you may choose to study for an animal transport qualification. While not essential, having this certification will demonstrate your passion and experience, and can also help you stand out against competitors in the industry. For example, you may choose to complete the City & Guilds’ Level 2 Award in the Transport of Animals by Road (Short Journeys), which covers areas such as journey planning, legal requirements, vehicle suitability, animal welfare in transit and space allowances. Make sure you’re covered by insurance As with any type of insurance, the hope is you’ll never need to actually use it. But that doesn’t eliminate the importance of taking out business insurance - after all, you’ll have invested so much time and money into starting your enterprise, that you’ll want to ensure it’s fully protected. Like any insurance, business insurance is designed to protect you against the unexpected. Disaster can strike when you least expect it, such as being in an accident or your vehicle breaking down. You can take out specialist pet transport business insurance, which covers you should you accidentally lose or injure an animal under your care. Looking to hire others to work with you? You’re legally required to have employer’s liability insurance - in fact, you could be fined £2,500 for every day you go uninsured. As a business that regularly communicates with the public, you may choose to take out professional indemnity insurance, to cover you against financial loss if a customer claims working with you has caused them a problem and they take legal action against you. Think about the type of pets you’ll work with Maybe you’ll only handle dogs, or you’d prefer to be a jack of all trades who can take on any animal that comes your way. Make sure you’re clear on the types of pets you’ll work with ahead of time, so you can market your business accordingly. The types of animals you work with will also influence the type of vehicle you use - if you handle large dogs, you’ll naturally need a larger car or van to transport them, whereas if you only deal with smaller animals, an average-sized vehicle may do just fine. Build out your business plan Writing your business plan is a crucial step in your journey, but it can be confusing knowing where to begin. You can think of your business plan as the sat-nav of entrepreneurship, there to guide you through every hurdle that comes your way. A business plan is a written document that covers every aspect of your business’ plans for the future. It outlines your company’s strategy, what success will look like and how you plan to achieve your goals. If you’re looking to seek financial support from a bank, such as a business loan , it’s likely that they’ll ask to see your business plan to understand what you’re going to use the funds for. A well-crafted business plan also encourages you to think creatively about how you’ll attract and retain customers. It encourages you to define your unique selling proposition (USP), your brand and how you’ll market your business. Without marketing your business, your potential customers won’t know you exist, so it’s important you put together a solid marketing strategy to get your name out there. Factor operational costs Assessing operational costs in advance and incorporating them into your business plan can ensure you’re not caught out further down the road. Here are just some of the reasons why calculating your operational costs in advance can benefit you: Profitability: Estimating your operational costs is a way of ensuring your business will be profitable. By forecasting your day-to-day business expenses, you can set the right price for your services to ensure a profit margin that sustains and grows your company. Financial planning: Estimating your operational costs improves your overall financial planning. Make sure to budget for both fixed and variable costs such as fuel, insurance, maintenance, marketing and salaries. Improved efficiency: Knowing your operational costs can help you streamline day-to-day tasks. By knowing the cost implications of each service, you’ll know how long to spend on each task to ensure optimal efficiency. Plan your distance to travel You’ll need to decide how far you’re willing to travel for jobs and stick to this limit to ensure profitability. After all, the further you travel, the more you’ll spend on fuel which will impact your operational costs. Make sure you’re clear with both your clients and yourself about the distance your business covers and that you stick to the limits of your certificate of competence should you need one. Marketing your business It’s easy to overlook the power of marketing, especially if you’re new to it. But marketing is essential for new businesses to attract and retain customers, build brand awareness and establish a reputation within the industry. As a business that relies on its vehicle, you automatically have a marketing tool you can use to your advantage! Make sure your vehicle is branded to represent your brand and what your business stands for. After all, your vehicle is essentially a moving advertisement that can reach potential clients while you’re on the move. Make sure you’re visible across the internet too. Most of your customers will turn to Google to find local pet transport services, so make sure you have a digital presence. Use platforms like Facebook and Instagram as your digital voice, to share updates and behind-the-scenes content of your business, to get your name out there. Invest in a professional, user-friendly website that reflects your brand and provides information about your services and pricing. Once you’re up and running, make sure it’s optimised for SEO so it shows up on search engines. Ready to start your pet transport business? Starting a business is no walk in the park, but the rewards are all worth it - trust us. If your to-do list feels overwhelming and you’re stuck for where to start, why not reach out to SUAZ? We’re your friendly company formations agent who can take care of the hard work for you, by forming your business with Companies House on your behalf. We’d love to play a part in your business journey. There’s no reason to wait - form your company today . Recommended Readings

Discover the top freelance skills. Use this information to make informed career choices and identify opportunities that align with your interests and expertise. Sizing up freelance roles 10 min read Beginner's Guide Table of Contents Categories The most competitive freelance roles The benefits of pursuing a competitive freelance role The least competitive freelance roles The benefits of pursuing a less competitive freelance role Tips for succeeding in competitive markets Tips for succeeding in less competitive markets Conclusion Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office It’s estimated that there are around 4 million freelancers in the UK , a figure which has more than doubled in the last few years. With the cost of living continuing to rise and employers tightening their purse strings, many workers are turning to freelancing to boost their income. But, with so many choices out there, it can make it exceptionally challenging for freelancers to find work. But, with a little planning, freelancing can be incredibly lucrative – you just need to know what opportunities are out there. Check out our guide on how to set up a freelancer business in 2024 here. Naturally, you’re going to want to freelance in an area you know best. But, that might not necessarily be what potential clients are looking for. To give yourself the best chance of success, you need to understand market competition so you can offer skills that are in high demand. We’ve analysed listings on freelance job website Upwork to identify the most in-demand freelance skills. To determine this, we took the number of freelancers and divided it by the number of jobs to reveal the most competitive and least competitive roles. That way, you can use your skills to fill a gap in the freelance market and spend less time looking for work and more time making money. The most competitive freelance roles For the most competitive freelance roles, we’ve taken a look at the number of freelancers there are per listing. The most competitive freelance role, with 821 registered freelancers per job posted on Upwork, is marketing . However, this does include a wide range of skills, including SEO, social media marketing, email marketing, pay-per-click advertising and more. The more niche your services are, the less competition you’re going to have. Similarly, content marketing is the second most competitive freelance role, with 500 freelancers per job. Content marketing has huge SEO value and blogs and social media content are always in demand. Podcasts are also a popular form of content, so many freelancers offer their services in this area, with 214 freelancers per job posted. This is in part due to the equipment needed for podcasting now being more accessible and affordable than it has been in the past. Following the marketing trend, digital marketing has 203 freelancers per job listing, thanks to it being the perfect choice for remote freelancers. Plus, many businesses have a need for freelance digital marketing jobs in some capacity. Finally, the fifth highest competitive freelance role is AI art , with 202 freelancers per job. This is mostly due to the recent surge in AI generation and the affordability for both businesses and freelancers. It’s also an attractive role for moonlighters as it often doesn’t take a long time to produce. The benefits of pursuing a competitive freelance role While it can be tricky to find clients in a competitive market, there are benefits too. There’s usually a reason there are a lot of freelancers in a certain industry, such as the amount of opportunities. While you may find yourself the unfortunate recipient of many rejections, there are generally plenty more jobs right around the corner. Wide and varied talent pools can also attract established and well-funded businesses, giving you the chance to work with prestigious companies. The more freelancers there are, the greater the opportunity you have for networking. Building a network of contacts who are also freelancers can help get your name out there. Success in a competitive role can build you a strong reputation. But, getting there may take time and effort initially. The least competitive freelance roles Choosing to pursue one of the most in-demand freelance jobs can make it a little easier to begin your freelance career, especially if there’s less competition. For the least competitive freelance roles, we’ve taken a look at the number of job listings there are per freelancer available. The least competitive freelance role is remote notary , with 578 jobs per freelancer posted to Upwork. Unlike many freelance roles, to become a remote notary you need specific qualifications and legal authorisation, which can vary depending on location. You must also comply with local laws and regulations, which means you may be limited to working with local clients. The second least competitive role is pattern maker , with 157 jobs per freelancer. This is a highly specialised skill but can be lucrative if you have the experience. Next up, with 123 jobs per freelancer is technical recruiting , which requires a deep understanding of specific roles and industries, and can be more challenging than non-specialised recruitment. The fourth least competitive freelance role is data encoder . With many basic encoding tasks now possible using AI, many freelancers are reskilling – which means there are plenty of opportunities available for those who persist. Rounding out the top five, with 33 jobs per freelancer, is executive assistant . This is a role that requires trust, understanding and confidentiality, and freelancers with a strong reputation and experience can have a lot of success. The benefits of pursuing a less competitive freelance role There are plenty of benefits to pursuing a freelance role in a less competitive market that makes it hugely desirable and potentially profitable for skilled freelancers. Of course, the less competition you have, the more likely you are to secure work and spend less time looking for work. This ensures stability and you’re more likely to have consistent income. Speaking of income, with these specialist freelance skills in demand, you’re in a far better position to set your rates a little higher, as the lack of competition means clients are more likely to pay. With less competition, you have a great opportunity to establish yourself in a niche area, and potentially turn your side hustle into your full-time career. Tips for succeeding in competitive markets Just because a market is particularly competitive, it doesn’t mean you can’t be successful. Clients are keen to hire skilled and dependable professionals, so if this is you then there’s plenty of money to be made. Here are eight tips for succeeding as a freelancer in competitive markets: Continue to upskill and gain certifications to ensure you stand out from other freelancers Focus on a specific skill or area of expertise rather than being a ‘jack of all trades’ Ensure you stay up to date with trends, tools and technologies to ensure you’re adaptable and have all the latest knowledge and insight Build a strong portfolio to show off the experience you have in areas your ideal clients are looking for Ensure your rates strike a balance between being competitive and knowing your worth Build a network of client and peer relationships so you become a go-to professional Invest in marketing and build your personal brand as a freelancer Never over promise, which can be challenging if freelancing is your side hustle – remember to ensure you still have downtime Aliyah Loughlan, freelance Digital PR consultant , shares her experience with freelancing, describes the ups and downs and shares how to succeed in a competitive market. “Freelancing comes with its challenges just like any other role - it’s not all slow mornings, gym sessions whenever you want and a chilled lifestyle as many people like to think. “In order to thrive in the digital PR industry as a freelancer you need to ensure you’re committed to building a strong portfolio that is results-driven and clearly shows the coverage, links and traffic you’ve helped drive to previous clients’ websites. Not only do you need to promote yourself in a professional but approachable way, you need to ensure you’re always putting yourself out there. “One thing about our industry is that it’s full of amazing freelancers. So, although there’s competition, it’s about supporting one another too - for example, if there’s a lead you aren’t suited to, pass it on to someone you think it would be perfect for. Being kind and supportive really does go a long way in this industry! “Another way to achieve success in this industry is to network. Our industry is full of lots of free and amazing conferences where you can network and find clients who may be looking for PR services. Not only are you potentially learning a thing or two from the lineup of speakers, but you’re broadening your list of potential clients.” Tips for succeeding in less competitive markets Even though it can be easier to find clients in a less competitive market, you still can’t expect to stumble into success without putting in the effort. Here are eight freelance tips for finding success as a freelancer in less competitive markets: Make the most of your specialised skills and emphasise to clients what sets you apart Network with niche professionals and build a support network you can use to share workloads and offer recommendations Broaden your skill set so you don’t restrict yourself to a certain type of project to help avoid burnout Don’t be tempted to deliver a substandard service just because there’s little competition as this can hurt your reputation Be flexible and offer bespoke solutions to your clients needs to help them meet their goals Keep up to date with industry trends and developments Manage your time well and don’t overpromise, which can lead to an impact on your day job and affect your downtime Build a portfolio filled with testimonials and case studies to prove to prospective clients that you’re the right person for the job Conclusion There’s a lot to think about before diving into the hectic world of freelance, especially if it’s not something you’ve dabbled in before. Even if you’re a leading expert in your field, during the early days it can still be tricky finding clients. The key is to sell yourself, be patient and understand that clients have their pick of the litter. It’s about making sure you find the right clients for you and you offer your services competitively. Freelancers who work in less competitive markets don’t necessarily have it easy, but finding clients isn’t quite the same sort of slog. But, even freelancers in less competitive markets still need to have dedication and perseverance, as things still aren’t likely to be served up to you on a plate. That being said, freelancing is the perfect way to boost your income by doing what you love and excel at. Not only can you earn money, you can grow your career and even turn freelancing into your full-time job. Sound like something you want to do? If you're ready to start your freelance business, check your business name is available and SUAZ will help you set up the rest . 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