Read our annual small business report to find out the latest small business trends, including which industries and locations are thriving this year. The UK small business report - the small business ecosystem and trends 13 min read Written by Lucy Hancock Business Trends Table of Contents Categories What is the definition of a small business? How many small businesses are in the UK? How has the business landscape changed over time? Small business survival rates in 2023 Fastest growing industries for UK small businesses The UK locations where the most small businesses were started Conclusion Methodology Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office The business world is constantly evolving. A major change, particularly in the last 20 years, has been digital transformation - the integration of digital technologies in a business to improve productivity, efficiency and overall growth. Digital transformation is no longer just an option or a luxury for businesses, but a necessity to remain relevant to their customers and stay competitive in their industry. Other key shifts for businesses include globalisation which has led to an increase in world trade, deindustrialisation and austerity - the government’s efforts to save money. With all these changes considered, the UK’s business landscape could be compared to an ecosystem. With ecosystems consisting of organisms that are connected and feed off each other, so too does the business landscape. Many businesses and industries rely on and support one another, so when one succeeds, so do others. But the same can also be applied when there are struggles or challenges. If you’re looking to start your own business , you’re in for a real adventure. As a new business owner, or someone who is looking to step into entrepreneurship in the near future, it’s important you’re clued up on the latest insights and developments in the business world - as what’s going on in the wider industry could benefit or impact your new venture. This knowledge can give you the confidence boost you need to make informed decisions as a business newbie. We’ve put together this small business report as a point of reference, covering small business numbers, survival rates across the UK and trending industries. With this insight, you should feel better equipped to embrace entrepreneurship and prepared to make the right decisions on next steps for your small business. What is the definition of a small business? As for a small business definition, typically speaking a small business is a corporation, sole proprietorship or partnership with a small number of employees and often a lower average annual revenue than larger businesses. According to the government, an SME is an organisation that has fewer than 250 employees and a turnover of less than €50 million , or a balance sheet total of less than €43 million. How many small businesses are in the UK? The UK certainly isn’t short of small businesses, in fact, SMEs account for 99.9% of the UK’s business population, with approximately 5.54 million registered SMEs on Companies House in 2023. It might be surprising to some that most businesses in the UK are very small, with 74% of registered SMEs running with no employees. We’ve delved further into the latest data from Companies House, looking back over the last 10 years to evaluate how the business landscape has changed over time. How has the business landscape changed over time? We looked at both VAT registered and unregistered businesses to give a clearer picture of the landscape - before we dive into the data, we’ll explain the difference. You’ll need to register for VAT if your total VAT taxable turnover for the last 12 months was over £85,000, or if you expect your turnover to go over that amount in the next 30 days. If this applies to you, you can register for VAT online . Of the 5,555,100 businesses on Companies House in 2023, there are 2,914,100 businesses (with 0 employees) not VAT registered, and 1,196,000 businesses (with 0 employees) VAT registered - seeing fewer small businesses with a VAT taxable turnover than not. Since 2013, the UK has seen year-on-year increases in the number of businesses registered, almost every year, highlighting a growing business landscape. Only three of the past 10 years saw percentage decreases in the number of businesses vs the previous year - 2018, 2021 and 2022. The dip experienced in 2018 appears relatively small at -0.5%, but equates to the UK being home to 27,000 fewer businesses. This is very likely due to the impact of the stock market index suffering its worst year in a decade , with a number of economic worries concerning investors, which hit companies with 1+ employees more than those with no employees. The number of UK businesses in 2020 saw a year-on-year increase of 1.9% from 2019, with non-VAT registered companies with no employees seeing the biggest growth (2.6%), likely influenced by the Covid-19 pandemic which saw a spike in startups. One reason for this rise in entrepreneurship was due to an increasing demand for medical supplies during the pandemic, with June 2020 seeing a 400% month-on-month increase in the number of new startups offering ‘disinfecting services.’ 2021 saw the biggest decline year-on-year, with 6.5% fewer businesses operating compared to 2020. The largest decrease was seen in the number of businesses with no employees, which weren’t VAT-registered - the businesses with smallest turnovers. It’s well known that a number of industries struggled to make it through the pandemic , with the restrictions enforced by the government, changes to travel and shopping habits having significant impact on businesses. 2022 saw a fall in the number of businesses by 1.5% compared to the previous year. This slight decrease may be influenced by the rising cost of living in the UK, with factors such as the Covid grant schemes coming to an end , and increased energy bills and rising inflation affecting budding entrepreneurs. For instance, 41% of trading businesses reported a rise in the price of goods or services bought in December 2022, compared to November. But before you let any doubts slip in, it’s important to note that there has been a notable increase in the number of businesses in the past year, with a year-on-year change of 0.8% between 2022 and 2023, or 46,200 more registered businesses (looking at business numbers as they stand in October 2023) - a rise for the first time since 2020. This rise has been led by the number of businesses with no employees that are not VAT-registered, which increased by 2.9% in the past year. With this in mind, you could be choosing a good time to make your business dreams come to life. It’s worth noting, there’s always going to be a risk; keep an eye on what’s going on in the current economy, including any projected impact from the government’s budgets to help you decide when the time is right for you, to maximise chances of small business survival. Small business survival rates in 2023 According to research by Fundsquire, around 20% of businesses fail within their first year, and 38% of startups fail due to running out of funds. But rather than letting these statistics put you off chasing your dream, why not use them to motivate you? We know you have what it takes to succeed. In fact, of the 531,312 businesses set up in 2013, 30% are still thriving in 2023 - a whole decade later! And while it’s said that just over a third of UK startups make it beyond five years , when looking at businesses formed in 2018, an impressive 47% of those companies still exist today. It appears that survival rates are on the rise in the early stages of business life too, with 88% of businesses set up in 2022 still operating in October 2023 - up from an estimated 80%. This could be due to the ever-evolving digital world providing resources and opportunities, to reduce risk, as well as the industries entrepreneurs have been choosing to opt for. Fastest growing industries for UK small businesses Knowing which industries have the highest business growth rate could steer you in the right direction, especially if your business idea isn’t yet set in stone. We’ve explored the fastest growing industries in the UK to offer some inspiration for which industries to research further to help solidify your decision. Whether that’s capitalising on a growing industry itself, or through seeing similar patterns in another industry and predicting its advancement to come. When looking at which industries are growing longer term, over the past five years, the manufacture of other non-metallic mineral products came out on top, with an impressive 172% increase in the number of businesses in the UK. This covers a broad range of manufacturing from construction and architecture supplies, to ceramic and clay goods or even packaging supplies. Other contenders for the fastest growing industry include wholesale trade (excluding motor vehicles and motorcycles) with a 70% increase over five years. As the retail trade industry sees growth, wholesalers and manufacturers will also benefit, to supply these businesses with stock. The manufacturing of chemicals and chemical products industry is also a top industry for growth, experiencing a 60% increase in the number of businesses over the past five years. This is quite a broad category too which includes everything from cleaning products, to essential oils, paints and dyes, fertilisers and industrial gases. Whilst some of these divisions are quite broad, it appears retail and manufacturing industries are seeing positive signs in the number of entrepreneurs starting new ventures - which could be a hint that these are ones to explore. If you’re interested in exploring these categories further, you can find all of the government SIC codes here and explore which businesses come under each category using the database search on Companies House . It’s important to remember that growth and demand can change year-on-year, depending on a range of factors. Take for instance ‘Residential Care Activities’, this industry saw a 54% rise in the number of businesses registered over the last five years, however, in the last year there has been a 14% decline. The need for residential care is still evident , but the economy, lack of government funding and cost of living might be having an impact on survival rates over the past year, showing how multiple factors can come into play. Looking specifically at the last year, the travel agency, tour operator and other reservation service and related activities industry has seen the biggest growth in terms of the number of businesses registered, at 12%. Despite the disruptions to travel experienced over the past few years, the industry is growing again, and with over half of people in Britain planning to spend more on travel in 2024 , this might continue to be an area in which we see more new businesses over the coming years. Sewerage was the industry seeing the second highest growth in business numbers over the past year with 11% growth, followed by companies in manufacturing of coke and refined petroleum products at 8%. Advertising and market research also made the top 10, with a 5% increase in the number of businesses registered in the past year, aligned to the steady growth being seen in advertising this year, and predicted for next year too . The UK locations where the most small businesses were started Wondering where in the UK is seeing the largest growth in small businesses? We’ve analysed Companies House data on a regional level to see which areas have seen the most small businesses (with a company size of 0-49 employees) formed over the last decade. Before jumping into the findings, it is important to note that as we live in a digital age, depending on the industry they operate in, some businesses could be serving customers further afield, not just in their local area. Outside of London, the East Midlands has seen the largest growth in the number of small businesses. In 2013, the East Midlands saw 313,100 small businesses registered, and 378,800 in 2023 - a 21% increase over this 10 year period. This impressive growth may have been influenced by the UK government’s Levelling Up initiative, which has invested over £1.2 billion in projects for locals and businesses across the East Midlands. Other top-performing regions for the number of small businesses include the North East and West Midlands, which have both seen an increase of 16% over the past 10 years. To delve further into the UK hotspots for new businesses, we’ve explored which local authorities have seen the highest business survival rates over the past 10 years. This data should shine a light on which locations may offer you a stronger chance of success for your new venture. Edinburgh takes the top spot with a 51% survival rate for businesses started in 2013, and a 59% survival rate for those started five years ago, in 2018. This higher than average survival rate could be due to a number of factors, such as the graduate pool from the city’s four universities, including one of the world’s top universities, the University of Edinburgh, as well as the city’s innovation and local support for businesses. Herefordshire came out second with a 49% 10 year survival rate. The local council in this part of the UK holds quarterly business briefings and six-monthly face-to-face business meetings to support local businesses which could be paying off. Winchester rounds out the top three with a 46% 10 year survival rate for businesses registered in that local authority area. Just like in Herefordshire, Winchester council has an offering to support small businesses too, with training, networking, mentoring and one-to-one business advice. It’s worth looking into what your local council has on offer for businesses, and considering how this could support the success of your venture, in whichever industry you choose to pursue. Fastest growing industries for UK small businesses by region The most common industries that have encountered the most growth across regions over the last three years are retail trade and real estate. In 2023, retail trade has been the most popular industry for newly registered companies across the majority of the regions. However in the East Midlands, East of England, North East and South East, real estate took the top spot as the most common industry - unsurprisingly, given the vital role that real estate plays in the UK’s economy. In 2022 alone, the real estate industry generated a turnover of over £65 billion . However, when looking at the most distinctly popular industries - the industries seeing regional growth at a rate above the national average - there largely appears to be a shift depending on location. In 2022, crop and animal production took the top spot for the most distinctly popular industry, in both the South West and East Midlands. In the East of England, the farming industry produced a total income of £1.1 million - an impressive 82% increase since 2018. Considering over four in 10 Britons said they’re more likely to buy British produce as a result of Brexit , there may be an increased demand for local farming across Britain. As an upcoming business owner, keeping an eye on the news and economic change can help you prepare your business should it be impacted by world events and changes to consumer preferences. In both the West Midlands and North West, postal and courier activities were the most distinctly popular industry for new businesses in the past year. The rise in demand for couriers has significantly increased following the Covid-19 pandemic, with many shoppers turning to online shopping for the first time. And despite the current cost of living crisis, 63% of businesses surveyed by YouGov reported the demand for delivery services increased in October, November and December 2022. This increased demand allows businesses to fulfil the needs of their customers, who are likely seeking the convenience, faster delivery and advanced tracking of their orders that online delivery services deliver. Keeping an eye on consumer trends will help you adapt your business, target your customers’ needs and join an industry which is set to grow. Conclusion Starting a business takes hard work and commitment, but the rewards are second to none. If you’re looking to make your mark on the business world, we hope our small business report has shed some light on the latest trends and insights across the UK. Here are some key takeaways to bear in mind, as a budding entrepreneur: Keep an eye on consumer trends and political change, so you can tailor your business offering accordingly to meet the needs of your customers. Look out for local government support to give your business a boost, such as Levelling Up, in which the UK government is investing £13 billion in local businesses across the country. If you haven’t yet decided on the industry you’re going to operate in, it may be worth exploring industries that are in high demand, particularly those in your region or city. Ready to step into those new boss shoes? We believe you’ve got what it takes. If you’re ready to form your business, check if your business name is available and we’ll help you get started. If you’re setting up a limited company or limited liability partnership (LLP), we’ll also register your company with Companies House, completely free of charge (it usually costs £50), so you have less to worry about. Methodology The data was gathered from Business Population Estimates statistical series and Companies House . Business survival rates were estimated based on the number of companies registered in a given year that remain active and/or open (as per Companies House search filters), compared to the total number of companies incorporated in that year. Company counts by industry correspond to the number of companies registered under a given Standard Industrial Classification (SIC) code, aggregated to the level of Division. Most common industry among newly registered companies represents the industry division with the highest number of companies registered in a given year and location. Most distinctly popular industry among newly registered companies was calculated using location quotient – a measure of how much more popular a given industry is in a given region, rather than nationally. Industries that had the highest share of businesses in a given region compared to the national average were deemed the most distinctly popular. For example, 2% of all businesses registered in Wales in 2023 were in the Accommodation industry - 2.8 times higher than 0.7% of businesses that were registered in that industry in the UK that year. Accommodation's location quotient was, therefore, 2.8 and as that figure is the highest of all industries in Wales, it was deemed the most distinctly popular industry in Wales in 2023. Data was collected in October 2023. Author bio Lucy Hancock is an experienced finance writer, having previously worked for Staysure Travel Insurance before working at MoneySuperMarket where she specialised in all areas of personal finance, from credit cards and loans to pensions and retirement planning. Having worked in digital marketing for several years, she’s passionate about the value small business marketing can bring to those looking to grow their businesses. She has written extensively across all areas of business and personal finance, to help business owners like you make informed financial decisions. Recommended Readings

When starting a business, often coming up with an idea is the hardest part. We've gathered X ideas, and some tips on how to come up with the perfect one. Want to start a business but have no ideas? Here’s some inspiration 12 min read Company Formations Table of Contents Categories How to come up with a business idea on your own Mistakes to avoid when looking for good business ideas Business ideas for you to consider How do you know if your business idea is a good one? What happens now you have your business idea? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Perhaps you’ve always wanted to start a business, or maybe entrepreneurship is a goal you’ve only recently added to your bucket list. Whatever your circumstances, scoring a good business idea is the first step in your journey. If the words, ‘I want to start a business but have no ideas’ have played on your mind, we like to think we’ve got you covered. After all, a winning business idea may be just under your nose - you just need to find it. In this blog, we’ll cover how you can find ideas for starting a business to kickstart your new adventure. From reflecting on your strengths and weaknesses, to common mistakes you should avoid, our tips will help you uncover a business idea that aligns with your interests and makes the most of your skills. You’ll be saying ‘eureka!’ in no time. How to come up with a business idea on your own Have you ever wondered what is a good business to start? Perhaps being an entrepreneur has always been your dream but self-doubt has crept in. Or maybe you’re simply stuck for an idea that you truly care about. After all, your business is likely to take up a lot of your time, so you’ll want to feel passionate about it. Try to choose something you care about, not just what you think will make the most profit. A successful business idea is often generated by market awareness, some creativity and identifying your interests and skills. We’ve put together some considerations to help you find your business idea below. Reflect on yourself: What can you offer? Self-reflection can not only help you with your business idea, it can also allow you to identify your motivation for starting a business too. Why exactly do you want to start a business? Try to picture yourself in those entrepreneurial shoes and think of what motivates you. Maybe it’s to help others, become financially independent or fill a gap in the market. Having this self-awareness can guide you towards a business concept that aligns with your values and aspirations. Maybe you’re an avid cook, or try to live as sustainably as possible - your passions could be the building blocks of a business idea that takes the market by storm. Next, assess your skills and background - we’re not just talking about your education or qualifications, but the skills you have in your personal life too. Would your friends describe you as a good listener? Maybe you’re great at giving advice, and mentoring others for a living could be your calling. Your skills could open the door to new opportunities when you least expect them. Are there any hobbies that you can monetise? Your business idea may be closer to home than you initially thought. You may have a hobby that fills you with joy in your personal life, that could be the perfect business opportunity. Some hobbies that may have earning potential include: Crochet: Crocheting is a creative way to calm your mind, with 78.5% of people reporting that crocheting helps them to relax . But have you ever thought of the earning potential of crocheting? Your talent could earn you a loyal customer base, and you could get paid for doing what you love. Writing: Been praised for your way with words? If magic happens when you put pen to paper, starting a writing business could be your calling. Perhaps you’ll help businesses market their products as a copywriter, or help others improve their writing as a proofreader or editor. The options are endless. Baking: If the kitchen is your happy place, why not make your apron your uniform? Starting your own baking business will put your skills to good use and you’ll get to taste test your hard work! Sounds pretty good to us. Photography: Prefer to see life through a lens? If capturing the perfect shot makes your heart sing, starting a photography business could tick all the boxes. What skills do you have? Make a list of your key skills, and any expertise you possess, even if you doubt your ability. Has a colleague praised your problem-solving skills? Maybe you’re great at communicating with others and getting your message across. Once you’ve put your list together, you can research the market to identify gaps or problems that your skills could solve. Maybe you’re a skilled programmer or developer, and you’ve noticed a gap in the market for a particular tool - what’s stopping you from building that tool yourself? If you’re currently working a side hustle, an additional job you do for some extra cash, have you considered the possibility of making this your full-time occupation? This could work especially well if you currently have freelance clients, as you’ll already have several customers who know you and the value of your work. Think about common problems you could solve Your new business could be the solution to several problems across the market. Here are just some examples of how solving a problem can secure your business growth in different industries: Technology: Such as offering tech support to local businesses, developing software or an app to improve efficiency, or building websites to help brands grow online. Health: Introducing fitness classes to the local area, starting a counselling or mentoring service to support those struggling with their mental health, or creating natural toiletry products to reduce skin irritation. Retail or Ecommerce: Introducing a certain product or service online that isn’t currently available or using AI to offer personalised shopping experiences. Finance: Building a budgeting app for a specific age group, offering financial advisory services in your local area, or becoming a finance writer whose blog offers financial advice. Trade: Offering skilled workers in craftsmanship or fixing people’s homes such as plumbing and installation. If you’re considering starting a business in a trade, be sure to check out our guide on the best trade to start a business . Remember the key to solving customer problems is market research. Asking your target market or potential customers about their circumstances can ensure you develop a product or service that resonates with them and meets their needs. Think about what’s trending right now. Could you do it better? Look, we’re not saying create a direct replica of a product or service that already exists (the last thing you want is to be labelled a copycat!). But there may be something that’s trending right now that you could capitalise on. After all, if there’s already high demand for a particular product or service, you may find it easier to attract customers. Is there a popular product or service out there that you could do better? Maybe you’ve found a way to offer something similar for a cheaper price or better quality. Do your own research If you’re stuck for a business idea, research could unlock ideas you hadn’t even considered. Getting to grips with the market, your potential competitors and market niches and trends can prepare you for life as an entrepreneur. You’ll gain an understanding of your target market so you can identify customer needs and address them. You can also identify what others in your potential industry are doing well, and what they’re missing for you to develop your own competitive advantage. You could read books written by entrepreneurs, attend conferences to introduce yourself to the industry, or even explore online courses - many of which are free. Brushing up your knowledge doesn’t need to break the bank! You may stumble across a business idea when you least expect it. Learn from others Don’t be afraid to reach out to like-minded people - those successful entrepreneurs you admire were once in your shoes. Perhaps you have a mentor, colleague or local business owner that you look up to - why not reach out to them? Soak up their knowledge and ask how their business journey evolved. There’s no harm in brainstorming business ideas with someone you trust - they may think of something you haven’t, or offer their advice on how to make your concept even better. Mistakes to avoid when looking for good business ideas So, we’ve covered what you should do when searching for good business ideas. But what about the mistakes you should look to avoid? Considering 35% of failed businesses went wrong due to a lack of market need, and 19% failed due to a flawed business model, you’ll want to set yourself up for success from the get-go. Here are some common mistakes you should watch out for when deciding on your business idea: Don’t rush your idea What good ever came from rushing? You wouldn’t buy a house without going to see it first! Taking the time to research your industry, understand the needs of your potential customers and weigh up the pros and cons of each idea could save you significant time and money in the long run. Not only does rushing often lead to unnecessary stress and anxiety, but the more you’re prepared, the better chances you have of success. Take the time to get to know your industry, flesh out your idea and learn as much as possible. Don’t steal from others While other businesses may inspire you, try not to overtly copy them or steal their ideas. The business may spot your efforts to replicate their work, and customers are likely to see it too - which won’t show you in a good light! Don’t be afraid to ask those you admire questions about their business for inspiration, but make sure you avoid copying what they do. Your own ideas are just as special, so try not to doubt yourself! Perfectionism While it’s often easier said than done, you should try to avoid striving for perfection when fleshing out your business idea. Perfectionism could even cost you a winning business idea, due to self-doubt. One way to avoid perfectionism when it comes to trialling different business ideas is to seek feedback from your network early. Share your business ideas with your most trusted friends, family or even potential customers. From there, you can make changes to your idea from the valuable insights you gain, with the reassurance that others responded well to your business model. Above all, learning to let go is all part of the process of becoming an entrepreneur. Mistakes do happen, and instead of dwelling on them, you can use them as opportunities to make your business idea the best it can be. Not starting One of the biggest mistakes when it comes to business ideas? Not following through with your idea and making your business come to life. With 43% of aspiring entrepreneurs not believing they’ll set up their business, you’re not alone in feeling apprehensive. Many people get to the research stage of their business idea, but fail to get their business started, often due to a fear of failure. Remember, if you’ve got your business idea mapped out but are hesitant to press ‘go’, our friendly team are always at hand to help you, whether you need to voice your ideas or simply have a question about how company formation works. Business ideas for you to consider Feeling stuck for inspiration? We’ve put together a list of potential business ideas for you to explore. Start a dropshipping business When selling goods online, the seller is usually responsible for sourcing the products, as well as renting a warehouse space and then shipping the products to customers. With dropshipping, the seller uses a third-party supplier to ship the product instead - allowing you to cut the costs of storing your products. In some cases, the dropshipper also takes care of handling your inventory and stock-taking, so you can focus on the fun stuff like taking care of your customers, improving your products and building your brand. By starting a dropshipping business you can usually get your business up and running quicker than other types of businesses. You won’t need to keep products in stock or worry about your inventory. Instead, you’ll sell your products and pass the order on to a third-party supplier, who ships the order to your customer. The downside to consider, however, is the low profit margins that are often associated with dropshipping. You’ll likely have to put a lot in to keep your business running and generate profits, as a lot of the money you make will go to the supplier. It can also be tricky to differentiate your products from others also being sourced from third parties. To stay competitive, you may choose to lower your prices, but this can threaten your ROI. 2. Start a dog walking business You’re sure to wake up every morning feeling paw sitive as a professional dog walker. Not only will you get paid for taking care of precious pups (the dream, right?), starting a dog walking business will also keep you fit and active. While there aren’t any qualifications you’re legally required to have to start a dog walking business, there are several costs to keep in mind. You’ll need to have dog walking insurance in place, to protect not only your reputation but to cover the cost of your equipment and the cost of medical treatment should a dog face injury or death while you’re working. You’ll also need to factor in the cost of branding and getting your business’ name out there - you may choose to set up a website to boost your professionalism. 3. Start a cleaning business There are around 66,500 cleaning companies in the UK, making it a popular industry to be a part of! If you’re looking for a rewarding career that offers flexible hours and financial freedom, starting a cleaning business may be right for you. Of course, there are some safety considerations to keep in mind such as slipping over and potentially hazardous cleaning products, but provided you keep safe, it’s a job you’re sure to love. 4. Start a crafting business from home Always been the creative type? Let your imagination run wild and get paid for it by starting a crafting business. First, you’ll need to identify your craft. Perhaps you’re a natural with woodwork, love making jewellery or decorating spaces for parties. Whatever you’re drawn to, there’s nothing stopping you from monetising your talents. Be sure to research your target market to understand who your potential customers are, their pain points and how much they’d pay for your service. From there, you can get to work bringing your crafting business to life. Even better? Provided you have the space, you may be able to work from home. 5. Start a gardening or landscaping business Put your green fingers to work by starting a gardening or landscaping business. If you feel most at home when you’re outdoors, this could be the perfect business idea for you. You’ll experience the joy of bringing your customer’s gardens to life, as well as the financial freedom being your own boss brings. Perhaps you’ll specialise in a certain area such as lawn care or landscape design, or maybe you’re versatile enough to offer all types of gardening services. Make sure you invest in quality equipment and take out the right insurance to protect you and your business’ reputation. How do you know if your business idea is a good one? So, you’ve found a business concept that you feel passionate about - how do you know if it’s a good one? To make your business the best it can be, critiquing your idea and asking for feedback from others is vital. Use your market research to gauge the demand for your product or service to assess its profitability. Also ensure you have a unique selling proposition (USP) to give your business a competitive edge. But as well as profitability, you’ll need to ensure you have the passion and drive to succeed. Does your business idea make you excited for the future? Is it something you could see yourself doing long term? Ultimately, a thorough assessment of your business idea, along with others’ opinions, can help you decide if your plans have the potential for success. What happens now you have your business idea? Ready to turn your business idea into a fully-fledged company? We believe you have what it takes to thrive. Starting your own business can be truly lifechanging. All you need is some self-belief, a great idea and the determination to get you where you want to be. Once you’re ready to form your company, our professional company formation service is there to guide you through the process. What are you waiting for? Form your company today with SUAZ. 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

Learn when small businesses should start paying VAT, how VAT works and the pros and cons of registering for VAT. Read now to understand how to run your company. When do you start paying VAT 10 min read Beginner's Guide Table of Contents Categories What is VAT? Should you register your business for VAT? Advantages of being VAT registered Disadvantages of paying VAT What are the different tax rates? VAT schemes How to register for VAT How long does it take to register for VAT? Can an accountant help with VAT? Let’s wrap things up Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office There's no doubt about it - starting your own business is a thrilling and unexpected adventure, where no two days are the same. But it also comes with its fair share of responsibilities, including understanding and managing your tax obligations. As a business owner, it's vital that you get your head around Value Added Tax (VAT) and what VAT registration means for your new business, as it can significantly impact your overall profitability. As of 1st April 2024, the VAT registration threshold in the UK is £90,000 - so if your business' turnover/annual sales exceeds this amount within any 12-month period, or you expect it to in the next 30 days, you'll need to register for VAT - known as compulsory VAT registration. Whether you have an existing business or are at the beginning of your entrepreneurial journey, this article will answer questions like ‘when do you start paying VAT?', so you know exactly how VAT registration works and how to register. We'll also cover how to register voluntarily and the benefits of doing so. That way, you'll get it right from the start and keep your own small business' financial health in check. Let's get started, shall we? What is VAT? Value Added Tax, often referred to as VAT, is a tax added to most products and services sold by VAT-registered businesses. It’s typically paid by the consumer, but is collected by businesses to pass on to the government. Most goods and services are charged at the standard rate of 20%, whereas certain items like home energy are charged at a reduced rate of 5%. Certain goods and services are considered exempt from VAT , such as financial services, property and charity events. Should you register your business for VAT? You'll need to register for VAT if your VAT taxable turnover is over £90,000, or if you expect your taxable turnover to exceed £90,000 in the next 30 days (as of 1st April 2024). However, you do have the option to register for and charge VAT voluntarily, even if your business doesn't exceed the current VAT registration threshold, known as voluntary VAT registration. For example, if your customers are predominantly other VAT-registered businesses, any VAT they are charged can be reclaimed from HM Revenue & Customs (HMRC), so it doesn't make a difference if you charge customers VAT or not. Advantages of being VAT registered While it's compulsory for you to register for VAT once your business exceeds an annual turnover of £90,000, there are several advantages to voluntary registration. Here are just some potential benefits of registering for VAT as a business: Reclaiming VAT on your business expenses: You can claim back VAT on items you've purchased once you're VAT registered, as long as they were purely for business purposes. You can even reclaim VAT on goods and services you purchased before you were VAT registered - as long as you bought the goods within the last four years, or up to six months ago for services. Just make sure you have the necessary VAT invoices and that the services or goods you purchased were exclusively for business use. Improved professional image: VAT registration can give your credibility a boost, and improve your reputation to clients and suppliers. It shows that your business is successful and established enough to require VAT registration. Often, businesses prefer not to work with other businesses that aren't VAT registered as they may view them as too small. When you're VAT registered, you'll be given a VAT number that you can display across all your marketing materials to boost your credibility and reputation. Better cash flow management: If your business charges VAT at the standard rate of 20%, but buys its goods and services at a reduced or zero rate, you could reclaim more VAT than you charge and improve your cash flow. Disadvantages of paying VAT While your VAT registration status can improve your professional image and boost your cash flow, there are several potential disadvantages for you to bear in mind, including: Significant admin: To comply with VAT regulations, you need to keep on top of your admin. This includes a lot of record-keeping and regularly submitting your VAT returns, which may feel overwhelming at first. To ensure all your documents are submitted accurately and on time, you may benefit from working with an accountant . They’ll ensure your business handles VAT correctly, meets every deadline and ensures you avoid any penalties or fines. Impact on your profits and pricing: Charging VAT on goods and services may increase your prices, making your goods or services appear more expensive to customers or clients - especially if they aren’t a VAT-registered business themselves or aren’t able to reclaim VAT. Unexpected bills: No one likes an unexpected bill, but if your output VAT is higher than the input VAT, you’ll need to pay the difference to HMRC. This could catch you off guard if you aren’t prepared for it. Cash flow issues: While you can reclaim VAT as a VAT-registered business, there may be a delay between you paying your suppliers and reclaiming VAT. This may cause cash flow problems, especially if you’re a new business on a tighter budget. Potential penalties: VAT-registered businesses are subject to VAT visits and inspections from time to time, to make sure your business is paying and reclaiming the right amount of tax. Should your business be non-compliant, even accidentally, you may need to pay a penalty. What are the different tax rates? Depending on the nature of your business and the products or services you sell, how much VAT you'll pay will vary. The standard rate (20%) is applied to most goods and services, known as taxable goods, but there are other tax rates to be aware of which we'll cover below. Percentage of VAT Applies to Standard VAT rate 20% Most goods and services such as electronics, clothing (except for children’s clothing) and most professional services Reduced VAT rate 5% Select group of goods and services such as sanitary products, home energy and children’s car seats Zero VAT rate 0% Certain goods and services such as most food, books and newspapers and children’s clothes VAT schemes You can use a VAT scheme to help you calculate and report your VAT. There are several VAT schemes available to help different types of businesses manage their tax obligations as simply and efficiently as possible. VAT flat rate scheme: The VAT flat rate scheme lets you work out what VAT you owe HMRC as a percentage of your gross turnover. You'll only be eligible for this scheme if you're a small business with an annual VAT taxable turnover of £150,000 or less (excluding VAT). How much VAT you'll pay will depend on your industry and business type. If you're annual VAT taxable turnover is £1.35 million or less, you may be eligible for the VAT Annual Accounting Scheme where you complete one VAT return each year rather than four, and the VAT Cash Accounting Scheme where you pay VAT to HMRC when your customer pays, rather than when you invoice them. Take a look at the government's website for more information on VAT schemes . How to register for VAT Registering for VAT should feel fairly straightforward. You can usually register for VAT online , through the government’s website . Certain circumstances may mean you’ll need to register via post, such as if you’re a local authority, parish or district council, or if you’re applying for a ‘registration exception’ because your taxable turnover has temporarily gone over the threshold. To register for VAT online, you’ll need the following information to hand: If you’re a limited company: You’ll need your company registration number, your business’ bank details , your Unique Taxpayer Reference (UTR) and details of your annual turnover to register online. You’ll also need to provide information about your Corporation Tax, Self Assessment and Pay As You Earn (PAYE). If you’re an individual or a partnership: You’ll need your National Insurance number, proof of identity such as your passport or driving licence, your bank details, your Unique Taxpayer Reference (UTR) if you have one, and details of your annual turnover. You’ll also need to provide details about your Self Assessment return, payslips and P60. Take a look at our guide to self employed vs limited company for more information on business taxes. How long does it take to register for VAT? Once you’ve completed the VAT registration process, you should receive your VAT certificate within 30 working days. You’ll then receive a 9-digit VAT registration number which you’ll need to include on all invoices you raise. You’ll also receive information about how to set up your business tax account if you don’t already have one, and information about when to submit your first VAT return and payment. You’ll also gain confirmation of your registration date, known as your ‘effective date of registration’. All this information will be sent via post. As soon as you’re registered for VAT, you must start accounting for VAT. Can an accountant help with VAT? Working with an accountant or tax advisor can offer invaluable support and guidance when managing VAT, especially as a new business owner. The rules and regulations around VAT can seem very complicated, and having a financial professional at hand to take care of things can save you time and reduce the chance of errors. An accountant can keep track of your business’ taxable turnover, making sure you don’t accidentally exceed the VAT threshold. They’ll let you know should you approach this limit so you can plan in advance and register on time if needed. They’ll also help you prepare and submit your VAT returns on time and with accuracy, so you always meet HMRC’s deadlines and avoid any costly penalties. While having an accountant isn’t a legal requirement for a limited company , working with one can alleviate any worries you may have about financial admin, VAT records and record keeping, especially as a new business. For more information, check out our guide to hiring an accountant as a limited company . Let’s wrap things up Registering for VAT can feel like a big step and it’s easy to feel overwhelmed by the admin side of things. But being a VAT-registered business shouldn’t be viewed as a negative - it means you’re making significant money as a business, which is certainly a win in our books. To make life feel that bit easier, develop the habit of keeping records and accounts with the relevant invoices and receipts. That way, you’ll have everything you need to hand when it comes to registering for VAT. Working with an accountant could alleviate any anxieties you have about your business’ financial management. You’ll have a professional at hand who will ensure your business stays tax-compliant and files its VAT returns accurately and on time. If you’re only just starting out in your entrepreneurial journey and are looking to set up your own business, there’s no better place to start than SUAZ. With us, you can register as a limited company for free . We’re here to help and support you at every stage. Recommended Readings

Learn about the concept of a registered office address and its significance for businesses. Better understand its role & requirements. Read more. What is a Registered Office Address? 5 min read Virtual Office Table of Contents Categories Why is having a registered office address important? How should you display the registered address? Can a registered office be a home address? Can you change my registered office address? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office A registered office address is the official address of your company. You may not necessarily operate from here, but it's the address that government bodies use to send you official communications. It's a physical address, so it can't be a P.O. box or a website. It has to be an address where someone can actually receive mail and sign documents. Why is having a registered office address important? Having a registered office address is a legal requirement for a company in the UK. When you're forming a company, you'll need to give an address where official legal notices and reminders will be sent. It's also the address that's listed on your public record, so it's important to make sure it's an address that you're happy to be associated with. This doesn't mean it has to be your main trading address - you can use a virtual address, such as those offered as a service by a company formation agent, as long as you are able to access the official communications that are delivered there. This is a great option if you're working from home or if you don't have a permanent office. Just make sure that the address you choose is in the UK and that someone can actually receive mail there. You don't want to miss out on important information because your mail is going to the wrong address. How should you display the registered address? You should display your registered address on all official company paperwork, such as your company's articles of association, annual return, and tax returns. It should also be displayed on any contracts that you enter into with third parties, your company's letterheads and marketing materials. For example, you could display your registered address like this: While there may be no specific rules on this, it’s a good practice to place your registered address on positions that are easily seen like the samples. Don’t forget to make it legible and visible to the naked eye! Can a registered office be a home address? Legally, there is no problem with using your home address as your registered office address, as long as it's in the UK - a reasonable choice if you're just starting out and want to save money. Your home can also add a more personal touch to your brand, especially if you’re a small business building relationships with your customers. If you’re thinking of using your home as a business address , we’ve created an article that will help you decide. However, there are some downsides to using a home address as your registered office address. You could have a hard time separating your business life from your personal life, and may risk people showing up at your house unannounced. So, most companies take advantage of the benefits of a virtual address where they can get privacy and security. Can you change my registered office address? Absolutely! Once you have your new registered office address, you’ll notify any directors, creditors or other relevant parties of the change of address. You’ll also have to file an AD01 form with Companies House. The process of changing a company's registered office address online can be completed in as little as 24 hours. Once approved by Companies House, your public address will be changed immediately. If you’re looking for help registering your office address, SUAZ can help. Buy a virtual office package from us today. Recommended Readings

Want to succeed in the household pet industry? If you're wondering how to start a dog walking business, we've created a complete guide to get you started. A Guide to Starting a Dog Walking Business in 2024 9 min read Company Formations Table of Contents Categories Is dog walking really for you? What skills and qualifications do you need to start this business? What costs are associated with starting a dog walking business? How to start your dog walking business Research your area and find your market niche Check legal rules and regulations Legal and medical responsibility for the pets you care for Form your dog walking company Decide your offering and pricing Consider what to put in your service agreement Consider how many dogs you can walk Invest in the right equipment Marketing your dog business locally Ready for your new chapter? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Wanting a career where ruff days are a thing of the past? Starting a dog walking business could be what you’re looking for - walking dogs and getting paid for it sounds like the best of both worlds to us! There are many benefits to becoming a dog walker: from being in charge of your own workload, to keeping active as you embrace the great outdoors. If you’re passionate about pooches and want a career that is sure to leave you feeling paws -itive, starting a dog walking business could be life changing. But, as with any new venture, there can be risks to consider before you start, which we’ll cover in this guide. So here it is: our tips and tricks on how to start a dog walking business in the UK, so you can feel fully prepared for your next adventure. Is dog walking really for you? Between July 2020 and June 2021, over 79,000 people in the UK were employed as dog walkers , and it’s easy to see why it’s such a popular profession. If you’re a natural with pups of all shapes and sizes, and love spending time outdoors, starting a dog walking business may tick all your boxes. But there is more to dog walking than meets the eye. While you aren’t legally required to have a licence, qualification or certification to run a dog walking business in the UK, there are certain laws to be aware of, including: The Clean Neighbourhoods and Environment Act 2005: If you fail to pick up faeces, fail to keep a dog on a lead, fail to put it on a lead when told to do so, or allow a dog to enter land they’re excluded from, you could be fined up to £1,000. The Dangerous Dogs Act 1991: It’s against the law for a dog to be ‘dangerously out of control’ in a public place. Someone could make a complaint against you if your dog chases them, barks at them or jumps up at them, so make sure you know how to keep the dogs in your care under control. The Road Traffic Act 1988: You must keep dogs on a lead at all times on roads. If you’re walking a dog and it gets injured in a car accident, it’s up to the driver to stop and give you their details. As mentioned, there are no legal requirements to start a dog walking business, other than the legal requirements you’d expect from any other business. But if you choose to include dog boarding - overnight stays - as part of your service, you’ll need a licence from your local council. While a love of dogs comes top of the list when becoming a professional dog walker, it’s important to factor in all responsibilities, from dog training and house-sitting, to keeping dogs under control when out and about. What skills and qualifications do you need to start this business? As mentioned above, there aren’t any qualifications you’re legally required to have to start a dog walking business, but having experience caring for or owning dogs could stand you in good stead. If you're looking to stand out from the crowd and improve your skills, you can take a course or undergo some training. Doing so can help you legitimise your business and build trust with potential clients. City and Guilds offer several courses in animal care including the Level 2 Certificate of Technical Competence in Dog Walking. You’ll learn numerous useful skills, including how to handle different breeds and their behaviours, how to control dogs on walks and how to deal with injuries and emergencies. What costs are associated with starting a dog walking business? As a professional dog walker, the cost of renting an office space is unlikely to affect you, however, there are several costs to consider when starting a dog walking business, including: Dog walking insurance: Having the right insurance in place can give both you and the dogs’ owners peace of mind. Look for a policy that includes public liability cover, as well as covering your equipment and any costs should a dog face injury or death, or get lost while under your care. Equipment: While the dog’s owner may supply their own lead and dog waste bags, you may prefer to kit your business out with the best equipment. For instance, you might want to invest in a dog car seat, or different sizes of harness for different breeds. Website: If you’re looking to establish a professional image and get your business’ name out there, you may choose to set up a website. Be sure to factor in the cost of a domain name and any hosting costs to get your website up and running. The cost of creating your website can range from around £100 to over £10,000 - usually on the lower end for small, new businesses. Learn more about the costs of starting a business here . How to start your dog walking business If you’re feeling ready to make your business dreams a reality, we’ve put together the steps you need to take for starting a dog walking business. Research your area and find your market niche If you’re looking to make your mark in the dog walking world, you’ll need to find your market niche. Research what competitors in your area are doing so you can strive to offer something special that sets your new business apart. Perhaps you’ll look to specialise in handling larger dogs, or dogs with behavioural problems. Maybe you’ll host dog walking groups where dog owners can meet and walk their pups together. Try to look for services that those in your area would jump on and appreciate, to boost your chances of success. Check legal rules and regulations Whilst it isn’t necessary to have a dog walking licence in the UK, it’s worth brushing up on your knowledge around dog walking regulations so you’re fully prepared. If you’re looking to incorporate dog boarding into your new business, you’ll need a licence from your local council, for example. Looking to walk dogs in the beautiful countryside? Under the Dogs (Protection of Livestock) Act 1953 , landowners and farmers may hold the power to shoot dogs that come onto their land, if they feel their livestock is under threat. While it’s unlikely to happen, it’s important to avoid these situations and only walk your clients’ pets in safe and legal areas. Make sure to check the rules of your local area before you start your new, exciting venture. Legal and medical responsibility for the pets you care for If you’re looking to include pet sitting as a service, there may be legal and medical responsibilities you’ll need to follow. The welfare of the pet you’re taking care of will be your responsibility, meaning if they become sick or injured you’ll need to make sure you find them the right care or treatment. As a professional dog walker or pet sitter, having public liability insurance in place should be a priority. Public liability insurance can give you the peace of mind that if the general public or a client makes a claim against you, you’ll be protected. For example, if you’re walking a dog and they attack an individual or damage their property, you may be liable. Public liability claims can be extremely expensive, so having the right cover in place can protect both your business’ reputation and your bank balance. Form your dog walking company So, you’ve got your business idea and the drive and determination to get you where you want to be. Next, you’ll need to officially form your company so your business is ready to go. We know it can take significant time and money to make your business come to life. That’s why we made our company formation service completely free. Instead of forming your company directly through Companies House, by forming your company through SUAZ we’ll cover the £50 incorporation fee for you. You’ll also get a helping hand to support you every step of the way. After all, too many businesses fail from a lack of support and knowledge and we want to give you the best possible chance of success. We offer several company formation packages , from free company formation to our Company Pro package which covers everything from unlimited digital post forwarding to one year of Trilogy Banking to take care of your business’ finances. Our packages can take some weight off your shoulders, as you’ll know everything is taken care of. Decide your offering and pricing Next, you’ll need to decide how much you’ll charge for your dog walking service. Here are some factors to bear in mind when setting your prices: Your travel costs Equipment costs The amount of profit you need to keep your business running smoothly How much competitors are charging How much your customers are willing to pay - is there a high demand for your service in your area? Your living costs and outgoings Make sure not to undersell yourself and your hard work while also not charging too much and putting customers off. Remember you can always raise your prices at a later stage once you’ve built up experience and a good reputation. Learn how to charge for your dog business . Consider what to put in your service agreement Your service agreement will outline what is expected of you as a dog walker. In simple terms, the service agreement will outline exactly what your clients pay you to do when taking care of their pup. From how far the dog’s walks should be to how often, a service agreement is your chance to ask a client exactly what they expect from your service. Be sure to ask the owner all the important details about the dog. Including its breed, temperament and any medical conditions it may have. It’s also worth confirming the price the client will pay you at this stage too to avoid any confrontation later down the line should a client be billed more than they expected. Consider how many dogs you can walk While there isn’t a nationwide limit on the number of dogs you’re able to walk, the RSPCA recommends that no more than four dogs are walked at once. After all, the more pups you have with you, the less control you’re likely to have over them. Imagine crossing a busy road with several large alsatians - not the best idea! Also, the more dogs you have to attend to at once, the less likely you’ll be able to bond with each of them individually. It’s important you get to know the dogs you’re walking so you know how to control them and how they behave in certain situations (such as around children or other dogs). It’s also worth figuring out how many dogs you can walk per week so you meet each of your clients’ expectations. Each of your customers deserves top quality service - they’re trusting you to take care of their dog and give it the best care, so don’t take on more work than you can manage. Invest in the right equipment As Benjamin Franklin once said ‘the best investment is the tools of one’s own trade’. Investing in the best equipment for the job can help you deliver top quality service and make your job more comfortable and enjoyable. We’ve put together a list of just some of the equipment you may want to invest in for your dog walking business: Comfortable shoes - make sure you have waterproof shoes that are suitable for all weather conditions Leads - you may choose to have different lengths/types of lead for different dogs Training equipment - muzzles, treats, a clicker Dog waste bags Portable water bowl and water bottle for those hot days Old towels - perfect to lie on car seats after muddy walks! Marketing your dog business locally Your business won’t get the attention it deserves if potential customers don’t know it exists! Advertising your service can be easier and cheaper than you may assume. You could make some flyers that detail your expertise, share your service on Facebook groups and even ask the local cafe to pin your business card to their notice board. You’ll be surprised just how quickly the word will spread. Ready for your new chapter? Starting your own business can be a life changing experience. With a bit of self belief you can open the door to a world of new opportunities as you become your own boss. We’re not going to downplay it - starting your own company is a big deal. With so much to think about, it’s easy to feel overwhelmed. That’s where we come in. Our professional company formation service can take care of the complicated stuff so you have one less thing to think about. Apply to form your company today - we’ve given you one less reason to wait. 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

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

New to freelancing? Learn how to create and send professionally formatted freelance invoices to ensure you get paid on time - find out the dos and don’ts. How to invoice as a freelancer 10 min read Beginner's Guide Table of Contents Categories How to format a freelancer invoice Invoice header Contact information Unique invoice number and date Description of services Payment terms and options Dos and don’ts of invoicing Sending an invoice Invoicing international clients Invoicing for freelance work Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Securing your first freelance client is a great feeling. You’ve reached a huge milestone in your self-employment journey, completed exemplary work on time, and the client is thrilled. Go you! Now that you’ve wrapped up your work, it’s time for your client to uphold their end of the bargain and pay you. For them to do this, you need to send them an invoice. But, if you don’t have any experience sending invoices in the past, it can be a little confusing knowing the correct invoice etiquette. As part of your new career, it’s important you know how to write an invoice for freelance work. It’s one of the main things to consider when starting your business . It needs to be in the correct freelance invoice format and include all the relevant information so it continues to present you as a competent professional. In this guide, we’ll outline how to invoice as a freelancer so you spend less time scratching your head over the admin stuff and you can get on with doing what you do best - producing great work for your clients. How to format a freelancer invoice There isn’t really a science to formatting an invoice, but there are steps you should follow so you and your client have everything needed. The main thing to consider is that it’s clear and professional and includes all the necessary information related to you, your client and the work you did for them. Below, we’ll take a look at the key components you’ll need to include when setting up as a freelancer and creating and formatting your freelance invoice. Invoice header At the top, a header ensures your invoice stands out. It should include your name (or the name of your business) and a logo if you have one. It should also clearly state that the document is an invoice, which lets the recipient know that it’s important and shouldn’t be dismissed. A strong header ensures brand consistency and continues to establish your credibility, so don’t overlook this first component. Contact information Just like when you write a letter, you need to include your contact information at the top of your invoice. Your client may already have this information, but it’s important to include it again so your invoice is professional. It also helps with your client’s confidence so they know exactly who the invoice is from and how they can easily get in touch with you if they have a question or update. The contact information you should include on your invoice is: Full name Business name (if you have one) Postal address Email address Telephone number Not only this, but also like a letter you should include your client’s contact information. This makes sure you keep a formal record of who you send invoices to and helps prevent mistakes. Unique invoice number and date Next, you need to make sure you and the client can accurately file and identify invoices. This is for both your benefit and the client’s benefit. The invoice number can be in any format you like. This could simply be in numerical order, e.g. #001 ; relate specifically to the client, e.g. #CLIENTA -1; or a custom format depending on how you wish to identify invoices. You should also include the date the invoice is issued. This helps with your and your client’s record-keeping. Description of services The next piece of information you need to include is a description of the services you provided to the client. This ensures your client knows exactly what they’re paying for. For clarity and simplicity, it’s often best to break this information down into a table. The information in the table should include: Description of the services provided Agreed hourly or total project rate Total hours worked (if hourly rate) Total billable amount per task VAT (if applicable) This information clearly shows the client the work that’s been completed and the breakdown of the costs, which should prevent questions or disputes. It also ensures you remain tax-compliant where necessary. Payment terms and options It’s vital to include the date the invoice should be paid, which is something you and your client may have discussed during the hiring process. If not, it’s common to use a period of time such as 30 days or 10 working days from the date of issue. Alternatively, you may wish to give a specific date for when the client will need to pay the invoice. Some professionals choose to include a short message stating that invoices that aren’t paid on time will incur a freelance invoice late fee. This could be a flat rate or a percentage of the total invoice amount for every day the invoice is overdue. Possibly the single most important piece of information to include on your invoice is the payment options. This will include how you want clients to pay you, such as via bank transfer, cash, debit/debit card payment or PayPal. You may also offer a variety of options. Most freelancers ask to be paid by bank transfer, and you should include the relevant information on the invoice. If you work with international clients, you’ll also need to include additional information so they can pay you too. This should include: Bank Name Account Name Account Number SWIFT/BIC Code (for international payments) IBAN (for international payments) You should be able to find this information in your online banking or located on a bank statement. Dos and don’ts of invoicing Invoicing can be a little daunting at first, but it’s an important part of the freelance process – otherwise, you simply won’t get paid. Here are some key dos and don’ts for your freelance invoice: Dos Give your client a heads-up that your invoice will be sent soon Keep copies of all your invoices Send payment reminder emails a week in advance of the due date Send regular follow-up emails for overdue invoices Stick to the guidelines stated in the invoice Include a message of thanks Don’ts Be late sending your invoice Forget to include any of the information listed above Forget to double-check all details before sending Forget to actually send your invoice Change any fees or terms without prior agreement Hold back if invoices are overdue Sending an invoice Before sending your invoice, it’s best to send it in a file format that can’t be edited, such as a PDF. Then, check with your client as to whether they’d like you to send the invoice to them or to a specific email address or person. You may also want to send a paper copy to the business, though this is far less common these days. If you’ve completed work for an individual or another freelancer, you can also send invoices to a private person. During your freelance career, you may consider whether you should register as a limited company , which can have many advantages as you grow. This will also have an impact on how you invoice clients, such as the need to include VAT. For more information read our guide to what’s best: self employed vs limited company . Invoicing international clients When invoicing international clients, you’ll want to include all of the same information outlined above. However, there are a few key differences and additions to be aware of to make sure you’ve paid the right amount and there aren’t any misunderstandings. These include: Make sure you use the currency in which you’re charging your client The accepted payment method Your SWIFT/BIC code and IBAN if your client is paying via bank transfer Whether or not VAT or other local taxes are required Whether there are fees for foreign payments and who is responsible for those fees Without this information you face delays, being paid the incorrect amount or not being paid at all. Invoicing for freelance work At first, invoicing as a freelancer can feel a little strange. But, it’s an important part of the process – it’s also one that’s important to get the right first time. If you don’t include all the relevant information on your invoices, it can cause confusion, delays and – worst of all - risk you not being paid on time. And during your new venture as a freelancer, you need to make sure you get paid when you expect to get paid, as delays can cause a domino effect when it comes to paying your personal bills and finances. If you’re looking to go freelance and register as a limited company, Start Up A-Z is here to help. With us, you can form your company for free - we’re here to support you at every stage. Recommended Readings

Learn efficient ways to track and manage freelance projects with our comprehensive guide. Stay organised and productive for success in the freelance sector. How to track & manage freelance work 12 min read Beginner's Guide Table of Contents Categories Why tracking work in the freelance sector matters How to keep track of freelance income How to manage freelance expenses and deductions How to set up freelance work for tracking A guide to freelance time tracking Common challenges and solutions when learning how to set up freelance work and track it Ready to turn your freelancing dreams into a structured business? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Freelancing is definitely on the rise. As of March 2024, there are roughly 7.4 million freelancers registered and operating in the UK, contributing over £270 billion to the UK economy every year. That's a lot of people juggling projects, clients, and invoices. As one of them, or at least planning to be, you know that freedom, potential, and flexibility come with a price – organisation. This guide will equip you with the essential skills and tools to track and manage your freelance work effectively. From your first client enquiry to the final payment, we'll cover everything you need to stay organised, efficient, and profitable. Let’s get into it. Why tracking work in the freelance sector matters As a freelancer, you're essentially a one-person company responsible for every aspect of your business – from securing clients to managing finances. And just like any successful company, you need robust systems to thrive. Effective tracking is crucial, especially as your business grows. It provides valuable data and insights that empower you to make informed decisions and avoid common pitfalls that can derail a freelance career. Statistics show 82% of businesses fail due to poor cash flow management. Other major contributing factors include: Ineffective time management Undercharging for services Inadequate financial planning Insufficient tax and emergency funds Poor expense management By implementing a comprehensive tracking system, you can: Gain an understanding of your financial health: Track income, expenses, and profitability to make informed business decisions. Optimise your time: Identify time-wasting activities and streamline your workflow for maximum efficiency. Price your services strategically: Analyse project data to ensure you're charging appropriately and maximising your earning potential. Improve your processes: Spot inefficiencies in your workflow and implement changes for better results. Reduce stress: Avoid missed deadlines, forgotten invoices, and financial anxieties by staying organised and in control. Ultimately, using systems to track your work allows you to work smarter, not harder, and build a thriving freelance business. When your systems handle the heavy lifting, you can focus on what truly matters: delivering exceptional work and building a thriving freelance career. How to keep track of freelance income First, we’ll explain how to keep track of freelance income. Juggling client payments, chasing invoices, and staying on top of your income can feel overwhelming. But there are simple and effective ways to track your freelance income, no matter your experience level. Starting simple When you're starting the journey of how to keep track of your freelance income, a basic spreadsheet or even a notebook can do the trick. You can then keep track of: Payment dates: When did you receive each payment? Client names: Who paid you? Project details: What was the payment for? Amount received: How much did you earn? This method provides a solid foundation, but as your business grows, you'll likely need a more robust solution. Using accounting software Consider using dedicated accounting software to streamline your financial management. Many options connect directly with your bank account, automatically tag income and expenses, calculate taxes, and offer valuable financial insights. A few popular choices include: QuickBooks Self-Employed: An all-in-one tool for tracking income and expenses, sending invoices, and estimating quarterly taxes. FreshBooks: User-friendly invoicing and accounting software designed specifically for freelancers and small businesses. Wave Accounting: A fantastic free option with basic invoicing and accounting features, ideal for those on a tight budget. By implementing a reliable system for tracking your income, you can gain a clear picture of your financial health, simplify tax season, and focus on what you do best: delivering exceptional freelance work. Categorise your income No matter how you track your income, categorisation is key. For example, let's say you're a freelance graphic designer offering a range of services: Logo design Custom graphics Illustrations Infographics By tagging each income source by service type, you can analyse which services are most profitable. Perhaps logo design generates 90% of your income and offers the best return on your time investment. This insight might lead you to niche down and focus solely on logo design. You can also categorise income by project type, client, or even payment method. This granular data can encourage you to make informed decisions about your services and pricing strategies. Consistency is crucial The key to successful financial management isn't just the system you use but your consistency in using it. That’s the trick regarding how to keep track of freelance income. Avoid getting caught in the trap of constantly switching between apps and templates. Find a system that works well for you and commit to it. Adapt your workflow to fit the system, and stick with it consistently. Building a consistent workflow takes time. Establish a routine for tracking your income and expenses, whether daily, weekly, or monthly. The most important thing is to be consistent and make it a habit. How to manage freelance expenses and deductions Income is crucial, but so is tracking what you’re spending and where the money comes out. This not only maximises tax deductions and keeps everything accurate and legal, but also provides valuable insights into your spending habits. Whether you prefer a spreadsheet or accounting software, the principle remains the same: record every expense. Note the date, amount, vendor, and a brief description. This meticulous tracking is crucial for two reasons: Tax deductions: Many business expenses are tax-deductible, reducing your tax liability and increasing your take-home pay. Financial awareness: Regularly reviewing your expenses helps identify areas where you can cut back and improve profitability. Tips for organised expense tracking Keep all receipts: Whether paper or digital, store them securely in a dedicated folder or app. Categorise expenses: Group similar expenses into categories like office supplies, software subscriptions, travel, and professional development. This simplifies tax preparation and analysis. Use expense tracking tools: Accounting software often automates expense tracking by connecting directly to your bank account. Separate business and personal finances: Use a dedicated business bank account to separate your business transactions from your personal spending. By diligently tracking and categorising your expenses, you can minimise your tax burden, gain a clear understanding of your spending patterns, and boost your overall profitability. Other top tips for keeping track of freelance finances Managing your freelance finances doesn't have to be a burden. Here are some expert tips to help you stay in control of your money: Set a budget (and stick to it!): A budget is essential for tracking income and expenses, preventing overspending, and making informed financial decisions. Start by listing all income sources and fixed expenses, then allocate funds for variable expenses like marketing or travel. Avoid impulse purchases and use your budget to guide investment decisions. Use accounting software: Streamline your financial management with accounting software. These tools automate tasks like income and expense tracking, invoicing, and tax estimation, saving you time and effort. Set money aside for taxes: As a freelancer, you're responsible for paying your own taxes. Set aside 25-30% of each payment to cover your tax liability and avoid a hefty bill come tax season. Plan for irregular pay and downtime: Freelancing often involves income fluctuations. Prepare for lean periods by building an emergency fund or setting aside extra income during busy months. Keep personal and business finances separate: Open a dedicated bank account for your freelance business to maintain clear financial records and avoid complications with HMRC. By implementing these tips, you can confidently manage your freelance finances, optimise your earnings, and achieve financial stability. How to set up freelance work for tracking You probably have an idea of who your clients are and what work you’re doing for them, but as you scale your business, develop your skills, and onboard more work and more complex pipelines, this system becomes obsolete almost instantly. Tracking your work, projects, clients, and tasks is crucial in this way. It clears your mind so you can focus on the important aspects of the time at hand, keeps you in control, and prevents stress, burnout, and other things that can damage your business. You’ll also get a ton of data you can use to make informed decision-making within your business. Like which work brings in the most money. Which client is most profitable. Which market is most lucrative and better suited to your skills. How to set up your freelance work and track it efficiently starts with how you set up your freelance projects. By implementing these strategies from the outset, you can streamline your workflow, improve project management, and gather valuable data for your business. Define crystal-clear project scopes Before starting any project, establish a clear scope of work. This includes outlining: Project goals: What are you aiming to achieve? Deliverables: What specific outputs will you provide? Timelines: What are the key deadlines and milestones? Payment terms: How and when will you be paid? A well-defined scope prevents scope creep (unplanned additions to the project that you should really be charging for) and ensures you and your client are on the same page. Break projects into milestones Large projects can feel overwhelming. Break them down into smaller, more manageable milestones. This not only makes the project less daunting but also allows for better progress tracking and a sense of accomplishment along the way. Set deadlines (and stick to them) Deadlines are crucial for accountability and timely project completion. Be realistic when setting deadlines, factoring in potential delays or unexpected issues. Once set, do your best to adhere to them. Leverage project management tools Numerous project management tools can help you stay organised and on top of your work. Consider these options: Trello: A visual tool using boards, lists, and cards to organise and prioritise tasks. Asana: A robust tool with features like Gantt charts and timelines for managing complex projects. Monday.com : A versatile platform for managing projects, workflows, and teamwork. Sunsama: A tool for planning your day, week, or month by integrating calendars and to-do lists. Akiflow: A powerful task management tool with features like time blocking and automated scheduling. Google Calendar: A simple and accessible tool for scheduling appointments, deadlines, and reminders. The key is to choose a tool that fits your workflow and use it consistently. Adapt your processes to the tool's functionalities for optimal results. There’s no “golden” tool that will care for everything and make life easy. That comes from picking a tool and then sticking with it, building up a system with that tool that works for you, not the other way around. A guide to freelance time tracking The most important thing you have to manage as a freelancer is your time, and developing a freelance time tracking system from the very beginning can bring so many benefits. Here’s an example: You charge £150 for a blog post. But what if it takes 5 hours to write, with another 4 hours lost to distractions? Your actual hourly rate plummets to £30. Now, imagine completing that same post in one focused hour time block. Suddenly, you're earning £150 per hour, with extra time to invest in other projects or personal pursuits. Freelance time tracking isn't about working yourself to the bone, grinding all the time, and burning out. You do become a productivity machine, but in the sense that your work time is used wisely. Your most valuable resource is used optimally and without waste. It's about understanding where your time goes so you can make conscious choices about how to spend it, how much to charge , and, ultimately, how to run your business more effectively. How to track freelance hours There are several ways to track your time: Manual freelance time tracking: Use a spreadsheet, notebook, or a simple timer to track your work hours. Techniques like the Pomodoro Technique, with its focused work intervals, can be particularly helpful. Digital time tracking tools: Many apps offer features like project-specific tracking, reporting, and integration with other platforms. Some popular options include: Toggl Track: User-friendly time tracking across projects and clients. Harvest: A robust solution with invoicing and expense-tracking capabilities. Some project management tools can teach and help you learn how to track freelance hours with ease, but often within their premium subscriptions. These tools provide detailed dashboards to visualise how you spend your time across days, weeks, months, or even the entire year. Top tips for keeping track of freelance time Regularly review your time logs: Take some time each week or month to review your time logs. This will help you identify patterns or areas where you can improve your time management. Identify time drains: Are there specific tasks or activities that consistently take up more time than you anticipated? Once you identify these time drains, you can take steps to eliminate or minimise them. Set realistic time estimates: When estimating project timelines, be realistic about how long tasks will actually take. It's always better to overestimate than underestimate. Try time blocking: This time management technique involves scheduling specific blocks of time for different tasks or projects. It can help you stay focused and avoid distractions. Use the Pomodoro technique: This technique involves working in 25-minute intervals with short breaks in between. It can be a great way to boost your productivity and avoid burnout. Prioritise high-value tasks: Not all tasks are created equal. Focus on prioritising the tasks that will impact your business most. So, when it comes to learning how to track freelance hours effectively, a bit of a proactive mindset can go a long way. Common challenges and solutions when learning how to set up freelance work and track it Even with the best intentions, tracking your freelance business can present challenges. But don't be discouraged. By understanding these common obstacles and their solutions, you can develop strategies to overcome them and build a more successful freelance career. Inconsistent time tracking Challenge: It's easy to lose track of time when engrossed in a project or juggling multiple tasks. Inaccurate time tracking can lead to underbilling and lost revenue. Solution: Use automated time tracking tools or set reminders to log your hours regularly. This ensures accurate billing and fair compensation for your work. Managing multiple projects simultaneously Challenge: Juggling multiple projects with varying deadlines and deliverables can be overwhelming, potentially leading to missed tasks and increased stress. Solution: Use project management tools like Asana or Trello to organise and prioritise tasks. Break down large projects into smaller, manageable steps with clear deadlines. Create separate boards or lists for each project to maintain organisation. Regularly review and adjust your schedule to ensure balanced time allocation across projects. Difficulty in invoicing and payment tracking Challenge: Creating, sending, and following up on invoices can be time-consuming and frustrating. Late payments can disrupt your cash flow and create financial instability. Solution: Establish a consistent invoicing schedule and promptly follow up on overdue payments. Consider using invoicing software to automate the process and simplify payment tracking. Clearly outline payment terms in your contracts or project agreements to avoid misunderstandings. By proactively addressing these common challenges, you can streamline your tracking processes, maintain organisation, and ensure you're fairly compensated for your valuable time and effort. Ready to turn your freelancing dreams into a structured business? Start Up A-Z is here to guide you through every step of your journey – from forming your company to landing your first client. Our comprehensive support system includes business planning tools, proven tracking methods, and ongoing guidance from founders who've walked the same path. Don't just start a business. Build a sustainable freelance career with the right foundation. Form your company with SUAZ today . Recommended Readings

Discover what a virtual office is and how it can benefit your business. Read SUAZ's comprehensive guide on the uses of a virtual office. What is a Virtual Office? 7 min read Virtual Office Table of Contents Categories What does a Virtual Office Provide? Why invest in a virtual office? Virtual Offices vs. Traditional Offices or Coworking Spaces Are Virtual Offices for Small or Large Businesses? Where Should You Locate Your Virtual Office? Things You'll Need if You Set Up a Virtual Office Does a Virtual Office Support Remote Working? How Much Does It Cost? To Conclude... Is a Virtual Office Right for You? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office If you're starting a new business or looking for ways to streamline your operations, you might have come across the term "virtual office." But what exactly does it mean, and how can it benefit you? Think of it like this: a virtual office is a fake but legal office. It’s a real office location which gives you services without the need to rent an actual physical office space. What does a Virtual Office Provide? Typically, a virtual office offers a range of services and amenities that can help your business establish a professional image. Our virtual office packages here at Startup A-Z (SUAZ), for example, include features such as an address you can use on your website, or on your business cards if you’re a director. You can also access meeting rooms for your client meetings, and have your mail forwarded smoothly. With these services, you’ll instantly have that boost your business needs, and be more flexible in managing your operations. Why invest in a virtual office? In 2023, 44% of UK professionals work from home and if you’re one of them, here are one of the few reasons to invest in a virtual office. To save money: Normally, a virtual office is a lot cheaper compared to an actual office space. This allows you to minimise costs, and can be especially beneficial if you’re a startup and a small business with limited budgets. To have more work flexibility while creating an impression : A flexible work set-up and a professional image all at once. Virtual offices offer you a flexible option to run your business operations even if you’re travelling. Or if you plan to hire remote workers, this can come handy to you. Virtual Offices vs. Traditional Offices or Coworking Spaces Many people are confused how a virtual office compares to traditional office spaces or coworking setups. So, we’ll break it down for you: Traditional Office: Involves renting or owning a physical workspace. You’ll need this if you have a stable team and specific space requirements. Coworking Space: Provides a shared workspace with various amenities. They usually offer the space per desk. A coworking space can be ideal for freelancers, startups, and small teams seeking a collaborative environment. Virtual Office: Offers the perks of a physical office without the associated costs of actually using the space. Virtual offices offer a middle ground between traditional offices and coworking spaces. They’re for businesses seeking flexibility, a prestigious image, and remote work options. To give you a brief idea of the price comparison in Manchester, Virtual office starts at £ 12.99 - £ 413 a month. To know more about how much a virtual office costs , we’ve summarised it for you. here Traditional office rental in a prime location can go up to £40 per square foot per month. A coworking space ranges from £320 - £446 per desk in a month, or depending on the space you will be occupying. Are Virtual Offices for Small or Large Businesses? Virtual offices can be a good option for businesses of all sizes, but they are especially well-suited for small businesses. Smaller companies often have limited resources and can benefit from the cost savings and professional image that a virtual office provides. Whereas, larger companies with multiple employees and established office spaces may not require the same level of flexibility and virtual services. Where Should You Locate Your Virtual Office? The location of your virtual office depends on your business needs and preferences. If you want to be close to your clients, you may want to choose a virtual office in a central location, but this can cost you more. So, if you want to save money, you may want to choose a virtual office in a less central location. It may be inexpensive, but you’ll also lose the convenience of being near to your clients. You’ll ultimately have to consider your business needs and do thorough research to select the most suitable location for your virtual office. Keep in mind that if you plan to use the virtual office as your registered address, it's important to choose a virtual office within the same state where your company is registered. This ensures compliance with the legal requirements and regulations of the state in which your business operates. Things You'll Need if You Set Up a Virtual Office To effectively run a business with a virtual office, there are a few essential items you'll need, and good news – you probably have most of these: a reliable laptop or computer, a phone or phone system for communication, cloud storage for file sharing and collaboration, a video conferencing service like Zoom for virtual meetings, and an email address or business email account to receive digital mail. Equipping yourself with these tools will help you maximise the benefits of a virtual office setup. If you need help on how to set up a virtual office , we’ve written a piece with further information to help you along. Does a Virtual Office Support Remote Working? Absolutely! One of the significant advantages of a virtual office is its ability to support remote working. With a virtual office, you can maintain a professional and secure image while using your address to conduct business. This allows you to enjoy the flexibility and freedom of remote work, while still projecting a professional presence to your clients and customers. How Much Does It Cost? The cost of a virtual office can vary depending on the provider and the package you choose. Generally, virtual offices offer a cost-effective alternative to traditional office spaces. Prices typically range from affordable monthly rates ( £ 19-30) to more comprehensive packages with additional features ( £ 90-100). Here at SUAZ, we offer virtual offices from as little as £ 12.99 a month . To Conclude... Is a Virtual Office Right for You? If you're looking for a cost-effective and flexible way to set up your business, a virtual office may be the right solution for you. Virtual offices offer a variety of services that can help businesses project a professional image, save money, and work from anywhere. To learn more about our virtual office services in Manchester , you can visit our website. We are more than happy to answer any questions you have, to help you find the right virtual office solution for your business. Recommended Readings

If you’re thinking about setting up a joinery business, here’s everything you need to know in 11 steps. Get the guidance to form a joinery company properly. How to set up a joinery business 8 min read Beginner's Guide Table of Contents Categories Create a joinery business plan What do you need to start up a joinery business? Qualifications Become a member of a joinery board Equipment and transportation Insurance Certification Finding a good materials supplier Commercial awareness and customer service How much could you earn running a joinery business? Registering a joinery business Marketing yourself Ready to start your joinery business? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Ever thought of turning your woodworking talent into a successful enterprise? Perhaps you’re an experienced joiner, or you have a newfound passion for the craft - whatever your circumstances, setting up a joinery business could be life-changing. You’ll need more than just talent to start a successful joinery business. From putting together your business plan to choosing your business structure, entrepreneurship takes investment and hard work, but the rewards are certainly worth it. We’ve put together this complete guide on how to start a joinery business, so you have your to-do list ready and waiting. Let’s get started, shall we? Create a joinery business plan Writing your business plan is a vital first step if you want to start your own business . It serves as your roadmap to business success, detailing your goals for entrepreneurship and how you plan to achieve them. Getting started may leave you feeling apprehensive, especially if getting words on the page isn’t your strong point. But you don’t need to be the best writer in the world to produce a solid business plan. Your passion and talent will be the fuel you need to write a business plan you’re proud of. Your business plan should include the following: Your business goals: What your business stands for, what you’re looking to achieve and how you’ll work to meet your aspirations Costs: How do you plan on financing your business, equipment and any additional costs? Your services: Where your talents lie, what areas of joinery you plan to specialise in Managing your finances: Are you looking to hire an accountant to oversee your finances, or will you manage them yourself? How much you’ll charge: What are your profit-making plans? How will your business make money? Marketing plans: How you’ll market your business and reach new customers For more information and support in creating your business plan, take a look at our guide to writing a business plan . What do you need to start up a joinery business? There are numerous areas you need to consider when setting up a joinery business. We’ll cover each of them in detail below, so you know what you need to tick off to get the ball rolling. Qualifications While you aren’t legally required to have any specific qualifications to become a joiner, they can certainly boost your business’ credibility. Having qualifications to your name can demonstrate to your customers that you have the experience and knowledge to deliver top-quality service. This can help build trust and may encourage your customers to return to you in the future. A great place to start is City and Guilds’ Carpentry and Joinery qualification , where you’ll cover numerous key areas of the trade including health and safety, and how to plan and price construction work. Other relevant college courses include Level 2 Diploma in Bench Joinery and T Level On-site Construction, which can give you the knowledge and confidence you need to kickstart your business. Become a member of a joinery board Joining a joinery board can be another way to secure trust from your customers. For example, you may choose to join the British Woodworking Federation (BWF) or The Guild of Master Craftsmen . Not only will this demonstrate your commitment to your trade, but you’ll also connect with like-minded tradespeople who you can learn from. Certain joinery boards entitle you to discounts too, such as B&Q/TradePoint discounts as a Guild of Master Craftsmen member. Keep in mind that these boards often require payment to join, and some may require proof of qualifications. Equipment and transportation Having the right tools for your joinery business allows you to take on a variety of different projects and clients, and deliver the best possible service. The more reliable your tools are, the better job you’ll deliver. We’ve put together this list of just some of the essential tools you’ll need to start your joinery business: Measuring tools Chisels Clamps Hammers and mallets Saws Drills Workbench Power tools Sanding tools Another key and often overlooked consideration is reliable and secure transportation for your joinery business. You’ll need a van or truck with plenty of space that you can rely on, so you can get to jobs efficiently and transport tools and materials safely. Insurance Insurance is a crucial element of starting your joinery business. Accidents can happen when you least expect it, and with such a manual job, you’ll want to protect yourself and your business from the worst happening. First things first, you’ll need to find out what business insurance you need. If you’re planning on hiring others to work with you, you’re legally required to take out employer’s liability insurance. While not a legal requirement, public liability insurance can offer you the peace of mind that should you be taken to court as a result of someone being injured or killed because of your business, you have protection. It also covers legal costs or any compensation you need to pay as a result of property damage. You’ll also want to ensure your business equipment and assets are covered, to protect against damage, loss or theft. Certification If you plan on working on a construction site, you’ll need a CSCS card (Construction Skills Certification Scheme). A CSCS card is a legal requirement should you do any work on a construction site , so applying for one could open the door to greater opportunities. Finding a good materials supplier When it comes to joinery, the quality of materials you work with is just as important as how you use them. Choosing a good merchant ensures you’ll always have consistent, sustainably sourced and durable materials which can improve your business’ reputation and overall service. Remember those joinery boards we mentioned earlier? Well, they can also be a great resource to find reputable merchants based on feedback from others in your industry. It’s also worth visiting the merchants you’re considering using in person, to ensure they provide the quality they say they do. Commercial awareness and customer service It takes more than just being good with your hands to run a successful joinery business. Soft skills like being commercially aware and knowing how to manage clients effectively are essential for long-term success. Being commercially aware is all about thinking like a business owner and understanding where your joinery business sits in the market. Keep an eye on the joinery industry and any new design styles or customer preferences you can capitalise on, to set you apart from your competitors. Strong customer relationships are the driving force behind your business. The more satisfied a customer is with your service, the more likely they are to recommend you to their network. Your communication skills should be top-notch - be sure to keep clients informed of their project, its progress and any issues that should arise. Make sure you set clear expectations early on of what is possible when it comes to timelines and costs. By mastering both the physical side of your job and the business elements, you’ll soon have a thriving business to be proud of. How much could you earn running a joinery business? How much you could earn as a joinery business owner depends on a variety of factors, from your level of expertise to the average rates in your area. As mentioned earlier, prioritising your business plan and forecasting cash flow can give you a good idea of how much you could earn. The average salary for joiners in the UK is around £30,175 per year. Your earnings ultimately come down to how much you charge for your services. It’s important not to undersell yourself, but equally don’t overprice your services either. Carrying out market research is vital to setting a competitive rate. Research what other joiners in your local area are charging for similar services, and also consider your level of expertise and whether you’ll offer specialised services such as custom-made furniture. Registering a joinery business Next, you’ll need to decide on the structure of your new business. As a joiner, you’ll need to decide whether to register your business as a limited company , or operate as a sole trader. Operating as a sole trader essentially means you’re self-employed and you’ll need to register with HMRC to let them know. Whereas, if you decide to form a limited company you’ll need to register your business with Companies House, which you can do yourself for a £50 fee, or through SUAZ for free (yes, really!). A key difference between working as a sole trader or forming a limited company is limited liability. As a limited company, you have legal protection should your business experience financial difficulty. You won’t be personally affected, as your business is treated as a separate legal entity. Whereas, as a sole trader your personal assets may be at risk should your business struggle with debts, financial losses or liabilities. Take a look at our guide to sole trader vs limited company for more details. Marketing yourself Marketing your business both online and offline is vital for securing a steady flow of work and loyal customer base. Without it, how are your potential customers going to know you exist? Marketing doesn’t need to be elaborate or complex to be successful. While focusing on online channels such as social media and your website is important, offline methods are still valuable, especially for a local business. You could choose to distribute flyers or brochures in your local area, brand your vehicle with your business name and logo, and build relationships with other local businesses to get your name out there. Being visible online is crucial for attracting new customers. Your website is your business’ digital storefront, there to showcase your services, what you stand for and what you can offer your customers. Make sure your website is user-friendly and is optimised for search engines. Using social media platforms such as Instagram and Facebook is a great way for joiners to showcase their work visually and connect with potential clients. Remember, it’s all well and good ticking these marketing activities off but your marketing efforts need to be consistent to be successful. Make sure to regularly update your website and post on social media as much as possible to keep your business visible and relevant. Ready to start your joinery business? A successful joinery business requires more than just skilled craftsmanship - it also takes a lot of hard work and commitment. But with a solid business plan, reliable tools and materials, and consistent marketing, you can quickly turn your passion into profit. Looking to set up your own joinery business? SUAZ can make the process a whole lot easier. You can register your limited company for free, with help and support whenever you need it. Start your own joinery business today - you’ve got no reason to wait. Recommended Readings