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Starting a business is exciting, and the process doesn't have to be complicated. In this guide, you can get your company up and running quickly. How Long Does It Take to Set Up a Limited Company? 4 min read Company Formations Table of Contents Categories What do you need to set up a company? Registering a limited company Register a limited company yourself Use a company formation agent How quickly can you register a company? How can you speed up the process? What to do after registering your company Your duties as a director Setting up a limited company with SUAZ Our formation packages Set up your limited company today with us Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Decided you’re ready to make your business dreams a reality? The next step in getting the ball rolling is registering your company. Starting a business is an exciting time, so it’s understandable that you’ll want to get things moving as quickly as possible. While setting up a company may sound complicated, the process shouldn’t take long. So, how long does it take to set up a limited company? Here, we’ll explore the usual timeline for getting your business registered and how working with a company formation agent can speed up the process. What do you need to set up a company? When setting up your company, there are some details you’ll need to provide about yourself and the nature of your business. Here’s the information you’ll need to include in your application: Your company name Your office address - if you’re looking to avoid the cost of renting an office space, a virtual office address may suit you Details of the company director - their full name, date of birth and address The industry your business will operate in Your contact information You’ll also be asked for the details of people with significant control (PSC) of your company, and your Standard Industrial Classification (SIC) code, which is used to describe the nature of your business to Companies House. It’s also important to note that at SUAZ, we ask that you have only one company director, who is also the shareholder. Registering a limited company While you may assume that registering your limited company will be complicated and time-consuming, the registration process is relatively straightforward. Provided you have all your details to hand, you’ll be surprised how quickly you can get your new business ready to go. In the UK, all companies need to be registered by Companies House - the executive agency of the government. You can choose to register your limited company yourself, or with the help of a company formation agent. Register a limited company yourself You can submit your application online through Company House’s website for a £50 fee. If your application has no issues or delays, your new company should be incorporated within 24 hours. If you choose to submit your application by post, this will cost £71 and will usually take longer to be processed. Use a company formation agent To take some weight off your shoulders, you may prefer to use a company formation agent to register your company. They can form your limited company with Companies House on your behalf (with the registration fee included in your company formation package , and completely free with SUAZ), and offer you professional assistance every step of the way. Once your company is all set up, they’ll be there as and when you need support, whether you have a question about your business, have misplaced a document or simply need a helping hand. How quickly can you register a company? How quickly you can register your company will depend on the route you take. If you choose to register your company by yourself, aim to register your limited company first thing in the morning on a weekday to avoid delays. Most online applications are processed within 24 hours, while postal applications usually take over a week. With a company formation package, it will depend on when your submission is sent and if there are any extra checks that need to be made. On average, submissions sent before midday usually come back the same day, though this can’t be guaranteed. Here at SUAZ, we aim to get all applications back within 36 hours. If there are issues with your application, such as your company name being flagged, this can delay the process. How can you speed up the process? Looking to get your limited company set up as quickly as possible? It’s often small mistakes on your application that delay the process. Here are some common errors to watch out for, to improve your chances of success: Your company name is already taken or is too similar to an existing company - don’t worry, we’ll let you know straight away if your company name is available when you apply through us Your company name contains a ‘sensitive’ word, such as a swear word or discriminatory language Your company director is under 16 years of age You’ve misspelt something like your name or address You’ve provided your initials rather than your full name However, sometimes delays are out of your control. Companies House often has a backlog, particularly on Monday mornings due to weekend applications. Looking to skip the queue? Our Quick Formation package includes the Companies House filing fee and pushes your application to the top of our pile. What to do after registering your company Once your company has been registered, you can breathe a sigh of relief knowing your business is official. You’ll be sent your Certificate of Incorporation which confirms your company’s existence, your company number and the date your company was formed. Soon after your company has been set up, you’ll receive a letter from HMRC which will let you know your tax obligations and requirements. It’s important that you register for Corporation Tax within three months of starting to do business to avoid a penalty. Your duties as a director Becoming a company director is both a big achievement and a big responsibility. But by taking things one step at a time, you should settle into your role. As company director, you’re legally responsible for the day-to-day running of your company. You’re also in charge of filing accounts and your confirmation statement with Companies House each year. Here are just some of your duties as company director for you to bear in mind: You need to follow the company’s constitution and its articles of association - both are written rules about running the company, as agreed by its members. The constitution covers what powers you have as director. You must act in the company’s best interests at all times, including acting fairly to all members of the company and considering the consequences of your decisions You must avoid conflicts of interest and avoid any situations where your loyalties as director may be divided. For more information on your duties as a director, you can take a look at the Companies Act 2006 for some light reading! Setting up a limited company with SUAZ Starting your own business can be life-changing, but getting things sorted out can feel like hard work. There are a lot of boxes to tick, making it easy to miss a step or forget something important. That’s where we can help. Setting up your limited company with SUAZ means everything is taken care of. With our company formation process, we’ll submit your application to Companies House on your behalf for free and you’ll have our support every step of the way. We’ve streamlined the application process so you can get your company set up in as few clicks as possible. Company formation doesn’t need to feel daunting or be time-consuming. Instead, you can leave the complicated side of things to us, so you can focus on your exciting new venture. Our formation packages Our formation packages group together everything you need to start your business, with expert support at every stage of your journey. All our packages form your limited company with Companies House for you, to save you the hassle. You can choose a company formation package that best suits your needs. Our Free Formation offers exactly what the name suggests - free company formation, with our experts’ support as and when you need it. For only £5, our Quick Formation package pushes your application to the top of the pile on Companies House’s submission list. If you’re looking to start your company on the right foot, a Privacy Package may be right for you - you’ll get several benefits such as a virtual office address which can help you avoid renting an office space, and give your professional image a boost. Our Privacy Plus package includes tax registrations and a printed certificate of incorporation to alleviate your admin worries. If you’re looking for a package that covers all bases, including a year of Trilogy Banking to keep your business’ finances organised, our Company Pro package may be just what you’re looking for. Set up your limited company today with us There’s no feeling quite like starting your own business. Being your own boss can open the door to financial freedom, flexible working hours and job satisfaction. If you’re looking to start your own business, why not let us take care of the hard work? Our company formation service can deal with the complicated stuff so you can focus on exciting new beginnings. We've given you one less reason to wait - apply to form your company today. Recommended Readings

Advice from business and branding experts on the importance of getting your new business name right, including their top tips for naming your business. The Power of a Name - Expert Tips for Naming Your Business 9 min read Company Formations Table of Contents Categories How to come up with a business name Branding and marketing experts share advice on naming your business How powerful can a business name be? Factors to consider when choosing a business name What happens if you don't pick a strong brand name? Is there any psychology behind choosing brand colours? Should you include the type of brand in your business name? Should you choose a long or short business name? When should you rebrand a business? Should you choose a business name that is personal to you? The cost of a domain for new businesses Forming a company Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office One of the first steps in creating a business is choosing your brand name. This is how the world will know you and it’s therefore a pretty significant decision. Choosing a name is a big part of building your identity and making you stand out from the crowd, and it lets customers know what to expect from your business. So, where should you start? How to come up with a business name Choosing a business name can be tricky. So to help you decide the best title for your organisation, we’ve pulled in three experts to share their insights and advice. We’ll get onto this expert guidance in just a moment, but first, here are some initial questions to ask yourself when thinking about an ideal business name: Will the name limit your business? Avoid being too specific about your offering in your name, in case you later decide to expand or change your business’ focus. Does the name make sense for your business? Does the name indicate what you do? Some businesses opt for unusual, abstract names but these give less information to potential customers. Is it easy to remember? Shorter names are often better and it usually pays to avoid acronyms, hyphens and special characters. Is your name easy for people to spell? If not, you could end up repeatedly spelling it out for customers and suppliers, and risk people not finding you online. Does it sound good? Is it easy to pronounce? Does it have a nice ring to it? Is the name meaningful just to you? A random name with meaning only for you tells people nothing about your brand. Is the name visually attractive? Think about how your name will look on your website, on a billboard and anywhere else it might appear. Is the name (and domain) available? You can check that with our company name availability checker . Branding and marketing experts share advice on naming your business Here come the experts! Let’s quickly introduce you to the branding and marketing experts who’ve kindly shared their insights with us, to prove that they’re well worth listening to. Expert number 1 Daphne Diluce - award-winning international designer, brand expert, business strategist and co-founder of Roar Media Creative. Expert number 2 Chelsea Spencer - Head of Marketing, Fenn 1875 . Expert number 3 Andrew Burnett - founder of helleau® , a thought partner to self-aware brands. How powerful can a business name be? Daphne Diluce: ‘ In my experience, a business/brand name wields immense power when it resonates with a meaningful message that elevates and enriches its customers' lives. The true strength lies in what the name symbolises. I thrive on delving deep into this realm, crafting brand names that not only exude power but also find a permanent home in the hearts and minds of the customers.’ Chelsea Spencer: ‘ I’d say powerful but a lot of people at the start of their journey spend too much time on this instead of getting their product or service out to market fast to see if it’s even viable in the first place. At the start-up phase the aim is to see if it works – I’ve had clients in the past who’ve not even sold their first batch of stock but they’ve rebranded more than once and waste no end of money and time on the look and feel of their brand before even knowing if the product was good. Often I think it’s a mind-set thing either to do with perfectionism or procrastination. In some instances not naming your business or product can even help get over this until you’ve got some solid feedback on the product or service.’ Andrew Burnett: ‘ How often do brands change their taglines? How often do they update their logos? And, how often do they change their names? Names are what we use to share brands in conversation, they’re vital to the most powerful form of marketing; word of mouth.’ Factors to consider when choosing a business name DD: ‘ In my view, the pivotal elements in selecting a business name revolve around customer comprehension. It must convey what the business or service offers, enabling clients to envision and grasp its purpose. This profound understanding is the key to attracting the right, loyal clientele to the business, ensuring constant growth and success.’ CS: ‘Functionally – can you get all the domain and social handles of the brand name and have it the same, is there anyone else out there with a name like it (I’ve had clients in the past literally rip off other brand’s names just because they like it and then faced the repercussions on diminished marketing returns later due to confusion, overly competitive SEO / PPC). Once I had a client that launched a sub-brand, created all the marketing and products for it and only then realised the domain they wanted was taken but not being used – the person who had the domain then tried to sell it to them for over 50k (they’re a medium sized business so to them this was a lot) – which they ended up paying because they’d already invested and marketed so heavily. ‘Also, trademarks. A current client is setting up their brand and they wanted to call it after a well known product of a direct competitor – it had a trademark on it and before they engaged with me they were having packaging and a website created under this. As soon as I embarked on the project with them I put a stop to it because the potential fallback would have been disastrous. ‘The less functional – ease of pronunciation, spelling (doesn’t have to be a real word like monzo) but the more simple the better traction they tend to get.‘ AB: A good name is SCUMMY™: Short Consistent Unique Memorable Meaningful Your brand appropriate.’ What happens if you don't pick a strong brand name? DD: ‘ If founders don't pick a strong brand name, it can lead to several detrimental consequences for their business: Lack of recognition, making it challenging to stand out in the market. Confusion and difficulty communicating the business's offerings. Reduced trust and credibility among potential customers. Limited growth and diversification opportunities. Potential trademark issues and legal challenges. Missed marketing opportunities and weaker emotional connection with the audience. Negative associations and damage to the business's reputation. Higher marketing costs without guaranteed results. Difficulty attracting top talent. ‘I want founders to know, a strong brand name is crucial to avoid hindering growth, communication, and overall success for the business.’ CS: ‘Ability to market effectively, unnecessary competition on Search, Paid and Social like the above. Potential for trademark infringements. Ultimately it will become much more costly. Starting a new business and scaling is already hard so no need to make it harder for yourself along the way.’ AB: ‘The success of the brand. ‘If names don’t work they may be confused with other brands, be forgettable, have unavailable brand assets, and so on. ‘ Is there any psychology behind choosing brand colours? DD : ‘ Yes, there is indeed psychology behind brand colours. Colours can evoke specific emotions and associations, impacting how customers perceive a brand and influencing their decision-making. Colour associations hold immense power in branding and marketing. Understanding the psychology of colours is crucial when creating your brand materials. Here are some common colour associations: Red: Represents passion, energy, and urgency. It can create a sense of excitement and stimulate impulse buying. However, it may also be associated with warnings or danger. Blue: Symbolises trust, reliability, and calmness. It is often used by banks, technology companies, and healthcare providers to establish credibility. However, an excessive use of blue may feel cold or distant. Green: Associated with nature, growth, and health. It appeals to environmentally conscious audiences and represents balance. However, too much green may come across as bland. Yellow: Conveys optimism, happiness, and creativity. It grabs attention and is often used to highlight important elements. But excessive yellow can be overwhelming. Orange: Represents enthusiasm, confidence, and warmth. It can create a sense of friendliness and affordability. However, it might not be suitable for high-end luxury brands. Purple: Symbolises luxury, sophistication, and creativity. It is often used by beauty and wellness brands. But overuse may make the brand appear too exclusive. Black: Signifies elegance, authority, and power. It is often used by luxury brands. However, too much black can feel heavy.’ AB : ‘ Colours are not my speciality, however, if one colour is common in a sector it is easy to disrupt… ‘There are many blue banks, but the red one is Santander, for example. ‘ Should you include the type of brand in your business name? DD: ‘ I believe including the type of brand in the name can be a strategic choice with both advantages and disadvantages. On one hand, it provides clarity, helping customers quickly understand the business's offerings. It also improves SEO and discoverability online, making it easier for potential customers to find us. Moreover, it contributes to establishing a clear brand identity, especially in competitive industries, showcasing our niche and specialisation. ‘On the other hand, there are some drawbacks to consider. Adding descriptive terms may limit our future growth and diversification if we decide to expand beyond our initial offerings. It could also make the name longer and less memorable, while using generic terms might make us appear less distinctive among competitors. ‘In the end, the decision hinges on our specific goals, industry, and long-term vision. We must weigh the pros and cons carefully to choose a name that aligns with our branding strategy and resonates with our target audience. Whether we opt for descriptive terms or a more creative approach, the name should reflect our unique identity and aspirations for the brand.’ AB: ‘ Definitely not. ‘How many household brands include their sector in their name? Strong brands don’t add what they do in their names, try thinking of an example… ‘ Should you choose a long or short business name? DD: ‘ When it comes to branding names, it's crucial to make the right choice. Shorter names are generally preferred, but there are pros and cons to consider. ‘Advantages of Short Branding Names: They are better memorable, simple to pronounce and spell, and offer more versatility. ‘Disadvantages of Long Branding Names: They may have limitations in describing the business, potential lack of distinctiveness, domain availability challenges, and the possibility of misinterpretation. ‘To find the ideal branding name, it's essential to strike a balance. Consider the nature of the business, ensure clarity in the name's brevity, and emphasise the brand's unique identity. Ultimately, thoughtful consideration is key to choosing a branding name that aligns perfectly with your brand's vision and resonates with your target audience.’ CS: ‘ Depends on the goal of the business and the target audience. Hargreaves Lansdown compared to MoneyBox for example. Essentially do the same thing and also have a similar fee structure but they operate in different ways and to different target audiences. MoneyBox massively simplifies things like ISA’s and Funds but H&L still keeps an element of technicality about their content and website.’ AB: ‘Short names are generally easier to remember, and therefore easier to tell other people about Sector leaders tend to have short names. Again, try and think of an example of a long brand name…’ When should you rebrand a business? DD : ‘ A rebrand or rename can be a game-changer for your business, ensuring relevance and success. Consider it in these situations: Evolving Business Focus: Align your brand with the new direction as products, services, or audience change. Brand Perception: Distance yourself from negativity and rebuild a positive image. Mergers and Acquisitions: Unite companies with a new cohesive identity reflecting combined values. Legal or Trademark Issues: Avoid complications by renaming if facing trademark challenges. Market Saturation: Stand out in competitive markets with a revitalising rebrand. Outdated Image: Modernise your brand for renewed audience appeal. Expansion into New Markets: Adapt your identity for cultural sensitivity in global markets. Negative Customer Perception: Rebuild trust and enthusiasm by addressing feedback. ‘Overall, a rebrand or rename can be most beneficial when there is a clear need to realign your brand with your business's current goals, values, and market positioning. However, it's essential to approach this decision thoughtfully, conducting market research, seeking customer feedback, and consulting with branding experts to ensure a successful transition and positive impact on your business. I love all parts of the branding process, creation and seeing my clients thrive!’ AB: ‘ Only if you really, really, have to should you think of renaming. If your reputation is bad, change the behaviour that led to the reputation, not the name. There are very few instances where changing a name is a good idea.’ Should you choose a business name that is personal to you? DD: ‘Choosing a brand name that is personal to you can be both a rewarding and challenging decision. ‘Pros of a Personal Brand Name: It allows you to showcase authenticity, reflecting your identity and values, which can create a genuine connection with customers. Your personal touch can evoke strong emotional appeal, fostering loyalty among your audience. Moreover, a personal name sets your brand apart, granting it a unique identity that customers are more likely to remember. Additionally, using your name provides an opportunity to share your personal story, adding depth and meaning to your brand. ‘Cons of a Personal Brand Name: It might have limited scalability, restricting future expansion if you plan to grow the business beyond yourself. People may also interpret the brand differently based on their opinions of you, which can lead to misperceptions. Furthermore, using a personal name may appear ego-centric to some customers, potentially alienating them. Lastly, if the business faces challenges, it could impact your personal reputation associated with the name. ‘To make the best decision, it's essential to consider the balance between personal attachment and the long-term goals of your brand. Think about how a personal name aligns with your vision and how it will resonate with your target audience. Remember, your brand name should reflect your values and aspirations, setting the tone for your business journey.’ CS: ‘ For me I’d rather have a name that either meant something to the customer base or was indicative of the business. I like Klowt for personal branding and Gym Shark for the gym. Then there’s the more abstract ones like Grenade for supplements and protein and Apple for tech which can work well too. I also think it a founder is too personally invested it can become detrimental and cause bottlenecks to getting MVP out and starting the feedback / iteration loop process – look at Nike and how the founder wasn’t a fan of the logo at first but they didn’t let it hold up the process of getting product out there. In a way it’s the same with a name. If it comes to it, once you’ve launched and know you have a viable product or service that sells, you can refine the brand and even rename later down the line if needed.’ AB: ‘If the name works it doesn’t matter if it is personal to you or not. Names with personal attachment can mean that objectivity goes out the window when choosing a brand name. ‘It doesn’t matter if you like it or not, only if it works or not; Ron Knight didn’t like “Nike” when it was presented to him – ask him now if he likes it.‘ The cost of a domain for new businesses Once you've chosen the perfect name, you’ll probably be keen to register a domain to start building your online presence. But which domain type will you choose - for instance, .com, .io or .net? Your business type should inform this decision - for example, .edu is used for educational institutions, .net is used for network technology companies and .gov for government agencies. Many British commercial businesses use .com or .co.uk, but there are more specific options too, such as .shop or .fun. As well as your business type, you should consider cost, because the price of these domain extensions can vary a lot! You can learn more about the cheapest and most expensive domains to buy in these graphics. Data from 123reg Forming a company When you have a company name you’re set on, you need to form a company with Companies House. It may seem complicated but with a little time and effort, you can register your company name and take the next step towards being your own boss. Or, if you’d like to make things even easier, you can have a company formation agent do it for you. At Startup A-Z the process is a piece of cake . All you need to do is: Check the availability of your business name Choose a company formation package Enter some information about yourself and your company Check out Oh, and we offer this service for free ! We can do this because our business model is based on offering additional, optional services such as virtual office solutions. Read more about free company formations right here. Use our free company name checker now to see if your ideal brand name is available. Recommended Readings

Read advice and expert knowledge on the most valuable business mistakes you can make. Supported with data on why start-ups fail. The Most Valuable Business Mistakes 10 min read Beginner's Guide Table of Contents Categories The top reasons startups fail Running out of cash/failing to raise new capital Declining market need Got outcompeted Industry experts share their business mistakes and how to overcome them Ronald Osborne, Business Coach Joshua Pearson, Managing Director, Preaco Marketing Claire Bartlett - Director, Arden Bookkeeping Ltd Izabela Wisniewska - Founder, Creatos Media Ready to start your business journey? Sources Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office You’ve probably come across the idea that we learn from our mistakes, but a fear of failure can often stop us from trying in the first place. With 84% of small business owners seeing mistakes as an opportunity for growth, those hurdles can help you and your business grow. Making mistakes when starting a business shouldn’t get you down, or put you off chasing your dream altogether. In fact, a bump in the road could be a learning curve, or serve as an opportunity to improve your business for better chances of success. We’ve explored the most valuable mistakes when starting a business, gathering top tips from business owners, as they share their mistakes in business and the steps they took to overcome them. With this knowledge, you should feel empowered to embrace the uncertainties that come with starting a business. The top reasons startups fail Wondering how many startups fail? According to research by NerdWallet [1] , 20% of small businesses fail in their first year, with 60% failing within the first three years. Instead of worrying your new venture might not make it, why not use that figure to encourage your success? There are multiple reasons why businesses struggle, and many causes can be preventable. Some mistakes to avoid when starting a business include: Running out of cash/failing to raise new capital We’re not going to downplay it - starting a business is likely to cost you. The average budget for a new UK startup is £5,000 , and that budget should cover not only the launch of your business but the strategy for it to survive long-term. 38% of startups [1] fail due to running out of money or failing to raise new funds, which is why having a strong business plan is so vital. Your business plan works as your guidebook for how you’ll run your company, detailing your plans for the future, your objectives and your financial situation. A business plan also encourages you to evaluate your business costs by looking at your expenses and how you’re going to fund your new adventure. The more planning you put in, the better prepared you’ll be for any obstacles that may come your way. Declining market need 35% of startups [1] fail because of a lack of market demand. When starting your business, it can be all too easy to focus on your new product or service rather than the market you plan to operate in. After all, the product or service you’re launching is your passion, right? Just remember to get to know your market, your competitors and the needs of your target audience. Does your product or service solve a problem? Is there demand for your business right now? Equally, even if you have identified a market need, make sure your pricing and features appeal to your target market. If your product or service ticks the boxes of your customer base, you don’t want to put them off with a mismatch in pricing for example. Try and go above and beyond by offering something your competitors haven’t thought of to improve your chances of success. Got outcompeted After spending time and money getting your business off the ground, the last thing you want is a competitor stealing the spotlight. With 20% of startups failing due [1] to being outcompeted, it’s worth prioritising what makes your business competitive. What is your strongest asset? What makes your business stand out from the competition? If you’re competing in a saturated market, you may want to adopt a niche or new approach to your business. For example, if you’re a dog walking business , you may choose to specialise in a particular breed of dog to appear as a specialist in that area. Take a look at the top 10 reasons startups fail below: Industry experts share their business mistakes and how to overcome them We asked the following computer programming and consultancy experts all about their business mistakes and the lessons they’ve learnt during their entrepreneurial journeys. Ronald Osborne , Business Coach If you had to pick one, what was your most valuable business mistake to date? I hired a friend who never found any success to run the civil construction side of my multi-million turnover business. There were a lot of red flags early on that I overlooked based on our personal relationship, and it hurt my team and me greatly. Once all was said and done, he cost my business upwards of £100k, plus the loss of two great employees. My valuable takeaway was never to hire friends or family unless they met strict criteria and would be suitable for the role in the first place. I urge all business owners to take the time to find the right person for the job, even if it means passing over a close friend. It will protect your money and your personal relationships. Joshua Pearson, Managing Director, Preaco Marketing If you had to pick one, what was your most valuable business mistake to date? My most valuable mistake as a marketing agency has to be taking on bad clients. While clients are incredible, of course, some clients are just not compatible with the style or nature of work you are able to provide at a particular time. What impact did this have on your business - initially and after you’d learnt from it? Through trial and error, I am much more selective of who I work with and make sure that it’s only ever an organisation that I know I can help. This has led to a much more positive environment and a happier work-life, as well as happier clients. What would you recommend to new small business owners off the back of this learning? I would always suggest not saying yes to anything and everything just because it pays. In the long term, it really doesn't. Instead, put the effort into finding the right clients first. Are there any other valuable business mistakes that come close? And any other lessons to share with other new business owners? I learn more about business every single day, and a lot of that comes from small mistakes, but those mistakes become less and less of a problem as things grow and scale up. Claire Bartlett - Director, Arden Bookkeeping Ltd If you had to pick one, what was your most valuable business mistake to date? I own a bookkeeping practice which I have run for eight years now. My most valuable business mistake was believing I had to accept every potential client that came my way. In the beginning, it’s hard to not just chase money and agree to work with everyone. But I soon learnt to listen to my gut and if a client felt like they wouldn't be a good fit, they most likely wouldn't be! It is much harder to disengage with a client than say no at the beginning. Always make sure your clients share the same values and work ethic as you otherwise it can make your working day very difficult. What impact did this have on your business - initially and after you’d learnt from it? Accepting the wrong type of client added so much stress and negativity to myself and my team. I’d worry about when the client would call and feel frustrated about repeating myself. And these clients tend to linger, they fight against fee increases and just take the joy out of your work. Since learning the hard way I am much more conscientious about who I accept as clients and it has made the working day so much more enjoyable. We love speaking to all our clients now and have mutual respect which is needed in a business relationship like ours. What would you recommend to new small business owners off the back of this learning? I know it’s difficult to not be blinded by the fee you could earn and to just accept all new business that comes your way in the beginning. But you need to keep the faith that your ideal client will come your way, and filling your time up with the wrong clients takes away your resources to help the perfect client when they do come to you. Are there any other valuable business mistakes that come close? And any other lessons to share with other new business owners? Business is all about making mistakes but the important thing is to learn from them. When you are new to business everything is uncharted water and you’ll sometimes take the wrong turn. Another mistake I made early on was not listening to my gut when recruiting new staff. It is very important in every decision you make to listen to your own intuition. Have you ever made these mistakes again, perhaps in a slightly different way? Or did you make a similar decision but something else made that decision work in your favour? I did go against what I’d learnt regarding ideal clients when it came to friends. I have had friends ask me to help them with accounts and despite my intuition telling me to not mix my personal life with my work, I didn’t listen and again I learnt the hard way. I now keep these two areas of my life completely separate but have peers in the industry I can recommend to friends if needed. Izabela Wisniewska - Founder, Creatos Media If you had to pick one, what was your most valuable business mistake to date? It’s hard to choose really but I think not treating my business as one of my clients was the biggest one to date, and I really struggled to turn this around - both since starting Creatos Media and even before that when I was freelancing. I was freelancing alongside full-time jobs so it wasn't such a big issue at the time but if I opened my eyes sooner, Creatos Media could have had an easier start! I still struggle sometimes but I really try to treat my business as if it’s one of my clients now and spend a fair share of time on marketing, networking, collaborating and getting out there. Because the only way people will want to work with me is if they trust me, and they won't trust me without knowing me first. What impact did this have on your business - initially and after you’d learnt from it? Initially, I didn't know what the impact was. I was getting my clients from one place and that was a website for freelancers. I did have some reviews and I just went off of that alone. But now I know that if I can easily show that I am good at what I do, people are more likely to work with me. It is easier to sign up clients nowadays, and I get clients from various events as well. My company is growing but it could have easily been what it is now five years ago, if I only treated my business as if it was one of my clients from the beginning. What would you recommend to new small business owners off the back of this learning? Make sure you invest (not necessarily a lot of money from the start, but time!) in marketing for your own business. Make sure you start building your own brand, and showing you are a top voice in your industry from the very beginning. It is so easy to forget about this aspect as you have so much to do, but this is critical for any business to really grow. Are there any other valuable business mistakes that come close? And any other lessons to share with other new business owners? Many! But the one that I think comes close is never passing up an opportunity to learn more, to attend events and network. It will all benefit building your brand as well. Have you ever made these mistakes again, perhaps in a slightly different way? Or did you make a similar decision but something else made that decision work in your favour? I think I still sometimes make the mistakes I mentioned, but I am coming back to the right track. I understand it’s critical for my business so even if I’m very busy, I will soon come back from it. Ready to start your business journey? Ready to make your business dreams come to life? We’ve covered the most valuable business mistakes above, so you can feel prepared for whatever eventualities come your way. After all, making mistakes only better equips us for the future. Here are some key takeaways to keep in mind: Take your time to find the right client or person for a job. Make sure your clients share your values and you have mutual respect for each other. You’re allowed to say no! Some clients might not be compatible with your business and that’s okay. Invest (not just money, but time) into marketing your business and building your brand - it’s a vital step in growing your company and getting your name out there. Our company formation service takes care of the complicated stuff for you, with support there whenever you need it, helping you get on the road to starting a business. Form your company today with SUAZ. Sources [1] NerdWallet - How Many Businesses Fail in the First Year in the UK? https://www.nerdwallet.com/uk/business/start-up-failure-statistics/ Data used for copy and design. 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

Thousands of people set up businesses every year, each for different reasons. But what is a good reason to start a business? Explore more here. 12 Reasons to Start a Business Today 12 min read Beginner's Guide Table of Contents Categories 1. You understand your strengths 2. You know your niche inside out 3. You have something new to offer 4. Affordable, accessible and simple-to-use technology 5. Remote working is now the norm 6. Financial freedom 7. Be your own boss 8. Better job satisfaction 9. Use innovation and creativity 10. Grow your network and collaborate 11. It’s exciting 12. Support is readily available What’s stopping you from starting a business today? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Perhaps you're looking for a new challenge, or to tick a lifelong dream off of your bucket list. Whatever the reason, it’s never too late to start your own business. In fact, you may be left wishing you’d done it sooner! So, what are the main reasons for starting a business ? From being your own boss to financial independence, becoming an entrepreneur can be truly life-changing. But if you need a bit more convincing, we’ve put together this list of reasons for starting a business that are sure to inspire you. 1. You understand your strengths Starting a business that reflects your own strengths and interests ensures you’re passionate about your product or service, and have the motivation to succeed. If you’re struggling for a business idea, listing your strengths or passions is a good place to start. Passion is the driving force behind successful entrepreneurs, there to remind you why your business exists, should times get tough. Perhaps your friends would describe you as a creative person, and you love nothing more than getting your hands dirty. Or perhaps you see yourself as a culinary connoisseur, and love bringing good flavors to life, the UK’s Most Successful Food-and-Drink Startups may give you the inspiration boost to start. Starting an arts and crafts business may be right up your street! Whether you’re an impressive baker, wanting to start a food business , yoga teacher or gifted wordsmith, your talent could deliver a product or service that others will love. Starting a business gives you a chance to share your expertise and turn your talents into your livelihood. 2. You know your niche inside out Having expert knowledge of your product or service could stand your business in good stead to compete effectively in your industry. After all, a clear market niche or unique selling point (USP) helps to target customers who are genuinely interested in your product or service, and are more likely to buy from you rather than elsewhere. Take starting a restaurant as an example. Instead of opening an Italian restaurant that serves every Italian dish you can think of, you could focus on offering local dishes from a specific region of Italy. Or opening a pub or bar not because it seems cool, but because you’ve had first-hand experience solving waiting tables, which could offer the best customer service in town. Knowing your niche inside out can help to establish a level of trust between you and your customer, as you’ll be seen as an expert in your industry. 3. You have something new to offer While many people may be able to do what you do, they won’t do it how you do! Your approach or idea may be entirely unique, giving you the competitive edge to succeed. Perhaps you have a product idea that has never been done before, that you’re certain will take off. If you’re sure you have a new, exciting concept to offer and the enthusiasm to get you there, what are you waiting for? Starting a business and have no ideas ? We can help with that. 4. Affordable, accessible and simple-to-use technology There’s no denying that technology can be key to supporting your business venture, with 90% of all SMBs making use of digital communications tools . But you don’t need to fork out significant money on expensive tech for your business to thrive. Remember, the cost of technology to get your business up and running is usually a one-off expense, and doesn’t need to cost the Earth. Once you’ve got the technology and equipment to support your journey, you’ll feel ready to roll. See more on the costs of starting a business . 5. Remote working is now the norm The working world has certainly changed since the pandemic, with 44% of Brits working from home at least some of the time. So if you’re hesitant to start a business due to office rental costs, you’ll be relieved to hear that times have definitely changed and you can start a business from home . Remote working is a top reason to start a business - not only will you be able to maintain a healthy work-life balance, but you can also save on office rental costs. Looking for a business address but want to avoid renting a physical office space? Our virtual office service can offer you a professional office address for you to establish a professional image, all while having the freedom to work from wherever you like. 6. Financial freedom One of the more obvious reasons for starting a business is making money - you can’t underestimate the financial freedom that starting your own business can bring. When working for an employer, there’s usually a cap on your salary unless you’re on commission or receive a bonus. Whereas, when you’re your own boss, the financial possibilities really are endless! As a business owner, you get to decide how much you charge and the hours you work. And if you’re in need of some extra cash, you could up your prices or put in some extra hours. 7. Be your own boss Say goodbye to the 9-5, company procedures and Monday morning meetings. When you start your own business, you’re in the driver’s seat. Perhaps you’ll work a four-day week, offer your staff unlimited annual leave or put a stop to Friday afternoon calls! What you say goes. 8. Better job satisfaction Considering the average retirement age in the UK is 64.5, dreading Monday morning should really be avoided, right? When you’re a business owner, the Sunday scaries really are a thing of the past. Your business will be something you truly care about, enjoy and feel motivated to get up for every morning. 9. Use innovation and creativity Consider yourself a creative person? There’s no better way to use your forward-thinking than starting your own business. Creativity challenges the norm and embraces innovative ideas, which can help you create products or services that are sure to make their mark in your industry. If your product or service is out of the box, you’re likely to outshine competitors and capture the attention of potential customers. 10. Grow your network and collaborate Starting a business opens the door to collaboration, meeting like-minded professionals and learning from others. You could attend conferences and networking events for entrepreneurs to grow your industry knowledge. One thing’s for sure, there will be plenty of others in your position who are eager to meet and support you! 11. It’s exciting If you’re looking for reasons for starting a business, the excitement of new beginnings should be enough to convince you. While the unknown may sound daunting, it’s exciting too - the possibilities are truly endless and there are no limits to what you can achieve. You’re in charge of your own destiny and what your business can become, and there’s no better feeling than that. 12. Support is readily available We’re not going to downplay it - starting a business is a big deal, and it’s only natural to have worries about your dreams not going to plan. But you’re not alone in this new chapter. There is a wealth of information available online on how to start a business that can put you at ease. The government also has a Business Support Helpline for free advice about starting your business and financial support you may consider. In need of a helping hand? Our experts here at SUAZ are readily available whenever you need them to guide you through the company formation process . What’s stopping you from starting a business today? There are two things that are important to start a business - a great business idea and the motivation to get you where you want to be. We believe you have what it takes to make your dream come to life. The reasons to start a business listed above should show you that there’s no feeling quite like being your own boss! Our expert company formation service is there to guide you through the process of forming your company, with support there whenever you need it. There’s no reason to wait - form your company today with SUAZ. Recommended Readings

Ready to set up your own virtual office? Follow our step-by-step guide to creating a virtual office and enjoy the flexibility it offers. Read more. How to Set Up a Virtual Office 6 min read Virtual Office Table of Contents Categories How does a virtual office work? How do you create your virtual office? Plan your business thoroughly Research the tools and software you need to be successful Determine what support you need Acquire ways for your customers to contact you Email, phone numbers, and social media A website A business address Determine how you will work with your team and meet with customers Is a virtual office right for your business? How to set up your virtual office with SUAZ Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Setting up a virtual office is a great way to save money and improve your productivity. And it is easier than you might think! In fact, with a little planning and preparation, you can be up and running in no time. In this article, we'll walk you through the process of setting up a virtual office, from planning your business to choosing the right virtual office provider. How does a virtual office work? Before diving into the details of setting up a virtual office, let's briefly understand what a virtual office is and how it works. A virtual office is a smart, modern solution that allows businesses to operate remotely while still maintaining essential business functions. It provides a range of services like a business address, phone numbers, access to shared office space and communication support to help your business thrive. With a lot of advantages , virtual offices can be a great option for businesses that are just starting out, or for those that want to save money on office space, How do you create your virtual office? Setting up a virtual office involves careful planning and a bit of research so keep on reading to help you get started. Here are the steps on how to create your virtual office: 1. Plan your business thoroughly Before you do anything else, take some time to plan your business. What kind of business are you starting? Who is your target market? What are your goals? Once you have a clear understanding of your business, you can start to think about how a virtual office can help you achieve your goals. Having a well-thought-out business plan will serve as a solid foundation for your virtual office journey. 2. Research the tools and software you need to be successful There are a number of tools and software that can help you run your virtual office effectively. Some of the most important tools include a cloud-based CRM system, a project management tool, and a video conferencing platform. 3. Determine what support you need Assess whether you'll require additional support, such as account specialists, marketing experts, or freelancers. Will you seek assistance from family and friends, or are you willing to invest in professional help? This consideration will also involve evaluating the financial and time resources you'll need to allocate. 4. Acquire ways for your customers to contact you Depending on the type of business, your customers may expect you to be contactable through a certain medium. Make sure that there are plenty of ways customers can reach out to you if they require extra support. This could the following: Email, phone numbers, and social media Choose communication channels that align with your target audience's preferences. Social media accounts can be great for reaching out to a younger demographic, while email remains a reliable option for more formal interactions. A website Setting up a website is essential for any business in today's digital age. It's relatively easy to create one with the right tools and support. Having an online presence not only enhances your credibility but also expands your reach to potential customers. A business address If you're planning to set up a limited company, having a business address is a legal requirement. It also adds a professional look and reassures clients that your business is established and trustworthy. 5. Determine how you will work with your team and meet with customers If you have employees or contractors, you'll need to decide how you will work with them. Will you be meeting with them in person? If not, you may think about how you will provide ample support and after-sales service. Is a virtual office right for your business? Before finalising your decision, think about the factors that could influence whether a virtual office is the right fit for your business. Factors such as remote employees, budget constraints, or the convenience of working from home are crucial aspects to consider. How to set up your virtual office with SUAZ If you've decided that a virtual office is right for your business, then SUAZ can help you set up your office quickly and easily. We offer a variety of virtual office packages to suit your needs, and our team of experts will be happy to answer any questions you have. Let's walk you through the simple steps to set up your virtual office with us: 1. Choose the virtual office package that suits your business Browse through our range of virtual office packages and select the one that best aligns with your needs and goals. 2. Add the virtual office package to your cart Once you've found the perfect package, simply subscribe and add it to your cart with just a few clicks. 3. Select checkout and fill in your personal information Follow the easy checkout process, and provide the necessary personal information to complete the setup. In 3 easy steps, you can now use your virtual office and experience the comfort of working anywhere while boosting your business presence. If you're thinking about getting a virtual office in Manchester, you can view and purchase our packages here . Recommended Readings

Curious about the cost of a virtual office? In our latest guide, we break down the pricing factors and provide insights into virtual office costs. Read more. How Much Does a Virtual Office Cost? 10 min read Virtual Office Table of Contents Categories Compare the Cost of Virtual Offices What Do You Pay for When Purchasing a Virtual Office? The Cost of a Virtual Office vs. Other Solutions Comparing Virtual Office Locations Other Virtual Office FAQs Are There Any Hidden Costs? Why Not Use Your Home Address? To Conclude... Is It Worth Investing in a Virtual Office Subscription? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Flexibility, convenience, cost – on the surface, a virtual office sounds as convincing as it gets. But, if you're considering the exact numbers, in this article, we'll look into the cost of a virtual office, compare it to other office solutions, and help you determine if a virtual office is worth your money. Compare the Cost of Virtual Offices To give you a clear picture of the market, we’ve compared the monthly prices of a few virtual offices in Manchester. Rates can be higher for other providers as packages differ from one to another. You’ll need to carefully assess your needs, such as: whether you need an address for registration or trading, a mail collection service, meeting rooms, etc. If you’re leaning on the affordable side, Start Up A-Z (SUAZ) stands out with reasonable and competitive pricing. What Do You Pay for When Purchasing a Virtual Office? Commonly, a virtual office can be more than an address you can use to register with Companies House. The monthly cost typically includes a range of other valuable services you may need for your business. These may include: a trading address you can use for your business operations, mail-forwarding services, access to meeting rooms when you need to meet a client, and additional administrative support. It's important to carefully review what each virtual office provider offers in their package to ensure it aligns with your specific requirements. The Cost of a Virtual Office vs. Other Solutions Compared to renting a physical office space or opting for a coworking space, a virtual office can offer significant savings. A virtual office can range from £ 9.99 - £ 413 depending on the type of provider and inclusions you are looking for. Traditional office spaces come with substantial overhead costs, such as rent, utilities, maintenance, and furnishing – which is why it can cost you £6000 - £7000 , assuming 150-175 square foot per person. If you enjoy the benefits of shared spaces, chances are a coworking space is for you. Coworking spaces, whilst more flexible, still involve monthly fees that can be higher than those of a virtual office. It costs from £320 - £446 per desk. By choosing a virtual office, you can enjoy many of the benefits and amenities of a physical office at a fraction of the cost. Comparing Virtual Office Locations It's worth noting that the cost of a virtual office may vary depending on the location and the type of building offered. For instance, a virtual office in London may have higher prices compared to one in Manchester. The location you choose for your virtual office should align with your business needs and target customers. Research different locations and consider factors such as accessibility, proximity to your target market, and the overall reputation of the area. Other Virtual Office FAQs Are There Any Hidden Costs? When considering a virtual office subscription, it's natural to wonder if there are any hidden costs involved. You may want to take into account costs such as a one-time setup fee and VAT exclusions – as these are usually not stated on websites which can be a surprise at checkout! With SUAZ, you can rest assured that there are no hidden fees or unexpected charges. Transparent pricing is our priority, allowing you to have a clear understanding of what you're paying for and helping you plan your budget effectively. The monthly cost of our virtual office covers the services and amenities outlined in the package, without any additional surprise expenses! Why Not Use Your Home Address? While using your home address for your office address is a possibility, there are some concerns to consider. Privacy and security are important factors to safeguard both your personal and professional life. By using a virtual office address, you can separate your business identity from your home address, enhancing your privacy and projecting a more professional image to clients and customers. For more insights into this topic, refer to our upcoming blog on home addresses and virtual offices. To Conclude... Is It Worth Investing in a Virtual Office Subscription? There’s no doubt that a virtual office subscription can be a valuable investment for many businesses. It provides a cost-effective solution to maintaining the privacy of your personal information and allows you to access essential office services without the burden of significant overhead expenses. SUAZ offers comprehensive virtual office services tailored to meet your specific needs, with competitive pricing and a range of features to support your business growth. Take the next step in empowering your business and explore the possibilities of a virtual office with SUAZ today! Starting and growing a business can be an exciting journey. A virtual office could be a key element in establishing a professional presence, enhancing growth, and projecting a credible image to clients and partners. Let SUAZ be your partner in success and take advantage of our exceptional virtual office services. Start your business journey today. Recommended Readings

Want to succeed in the gardening & landscaping industry? If you're wondering how to start a gardening business, we've created a guide to get you started. A Guide to Starting a Gardening Business in 2024 12 min read Beginner's Guide Table of Contents Categories Understanding the gardening business landscape Steps to starting a gardening and landscaping business 1. Do your research Types of customers 2. Understand the legal and regulatory considerations Company formation Health and safety Insurance for your gardening business 3. Make a list of essential tools and equipment 4. Create a business plan and have it ready 5. Build a marketing and branding strategy 6. Financing your landscaping and gardening business 7. Keeping and retaining gardening customers Words of wisdom from a gardening business owner Any challenges or mistakes you made at the beginning? What tips or advice would you share for starting a gardening business? How SUAZ can help you Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Maybe you were born with green fingers, or perhaps your love of gardening blossomed over time. Whatever your circumstances, if nothing fills you with more pride than transforming a green space, starting a gardening business could be the fresh start you’re looking for. In fact, an impressive 674,200 jobs across the UK are supported by ornamental horticulture and landscaping - so you’re choosing a thriving industry to become a part of. Starting a gardening business offers more than just financial independence and pride - you’ll also spend time in the great outdoors which is said to improve your mood and reduce feelings of stress . But how do you get started? We’ve put together this guide on how to start a gardening business, so you know exactly how to navigate entrepreneurship and kickstart your gardening enterprise with confidence. Understanding the gardening business landscape One thing’s for sure - we definitely love our gardens in the UK. Gardening rose in popularity during the COVID-19 pandemic especially, when lockdowns caused many to stay at home. In 2020, when asked about the key benefits of having access to a garden during the pandemic, 87.7% of respondents said their garden helped relieve stress and anxiety . So, if you’re looking to start a gardening business, you’ll be pleased to know your work will contribute to improved mental wellbeing. The horticultural industry not only brings joy and improved wellness, it also supports the environment and economy. Your work will contribute to environmental sustainability, especially if you implement eco-friendly gardening practices. It’s said that the industry could support more than 763,000 jobs by 2030 , and is set to play a key role in achieving the UK’s climate change targets. With endless benefits to consider, what’s stopping you from swapping your office shoes for welly boots? Steps to starting a gardening and landscaping business Ready to embrace all that starting a gardening business has to offer? We’ve put together a step-by-step guide below, so you can rest assured that all is taken care of. 1. Do your research Let’s face it, there’s no such thing as too much research. To improve your chances of business success, getting to know your customers and their needs is crucial. Without research, you’ll rely purely on assumptions which is where many businesses fail. In today’s business world, you must take the time and effort to understand your customers so you can tailor your service to suit their needs. Types of customers The types of customers who will seek your expertise are likely to vary. You may choose to specialise in a particular area of gardening, or offer a range of services to appeal to different customers. Just some of the customers you may look to target include: Local councils Families or couples Holiday lets Landlords and letting agents Public gardens, parks and other green areas Establishments such as cafes, restaurants and bars 2. Understand the legal and regulatory considerations While you’re probably eager to get started with your gardening enterprise, you should get to grips with the legal and regulatory requirements of starting a business . Company formation First, you’ll need to decide how you’ll legally start your business. You can form your business yourself through Companies House for a £50 fee, or you can get a company formation agent to take care of things for you. With SUAZ, we’ll form your company directly with Companies House for free (yes, really!) and we’ll have your back every step of the way should you need any advice or support. Health and safety While gardening can be a stress-free pastime, it doesn’t come without its risks - especially if you’re making it your career. It’s important to consider any potential risks and health and safety procedures you should follow to protect yourself and others around you. Gardening and landscaping can come with several risks including prolonged sun exposure, manual handling, slips and falls, and reactions to chemicals such as pesticides and weed killers. With this in mind, it’s important to perform a risk assessment to acknowledge any potential risks and the steps you can take to mitigate them. Insurance for your gardening business Like any type of insurance, the hope is you’ll never need to actually use it. But this doesn’t eliminate the importance of taking out business insurance to protect you and your business should the worst happen. Should you hire employees, it’s a legal requirement to have employers’ liability insurance to protect your business should an employee fall ill or become injured as a result of working for you. You may also choose to take out public liability insurance to cover you financially should a third party claim to have suffered injury or property damage because of your business. 3. Make a list of essential tools and equipment Without the right tools and equipment, you’re not going to get very far! The exact tools you’ll need to invest in will depend on the gardening services you plan to offer, but generally speaking, you’ll need the following: Gloves: A good pair of gloves will protect your hands from cuts and splinters. Make sure they’re water-resistant and breathable, and that they have long cuffs to protect your forearms. While it may be tempting to go for the cheaper option, it’s likely to be more cost-effective to invest in higher-quality gloves that may cost a bit more. Doing so means you won’t need to replace them as quickly - better for your wallet and the planet too. Rake and spade: Every gardener needs a good quality spade and rake. These are the most basic but effective tools you’ll use daily, so it’s worth buying high-quality products that will last. Pruning shears: Otherwise known as secateurs, pruning shears help you control plant growth and keep areas looking tidy. You can use them to cut through branches easily, so you can maintain and shape trees and bushes. Lawnmower: Lawn care is likely to be a popular service you’ll offer, so you’ll want a reliable, quality lawnmower to do the job well. You may prefer a lightweight lawnmower (either petrol or electric) that is easy for you to carry around from job to job. 4. Create a business plan and have it ready Your business plan is your go-to resource both at the start of and throughout your business journey. Your business plan should outline your business’ strategy, goals and objectives and how you’ll achieve them. You’ll explain the market research you carried out, how your business will be managed, and the services you’ll offer in detail. It’s also important to explain how you plan to fund your business, including your forecasted sales, expenses and cash flows. 5. Build a marketing and branding strategy To get your business name out there and start attracting customer attention, you’ll need a marketing and branding strategy. The thought of marketing your business may sound daunting, especially if you feel your skills lie in the outdoors and you aren’t familiar with marketing jargon. But there are plenty of resources online to guide you through it, as well as our tips below to get you started: Know your target audience: Are you looking to attract local families or larger organisations? Determine the demographic, lifestyle preferences, age, location and gardening needs of your customer base so you can look to target these characteristics. Your USPs: What makes your business stand out against your competitors? Identify your key strengths and specialisms to focus on, as well as your USP - your unique selling points. For example, one USP may be that you offer a customised approach to your gardening services, tailored to each individual customer. Choose your marketing channels: Choose the marketing channels that are most appropriate to reach and target your customers. Make sure you consider both online and offline marketing - for example, you may choose to advertise your services on Instagram, as well as promote your gardening services offline through flyers and local newspapers. 6. Financing your landscaping and gardening business Make sure you know how you’ll fund your gardening business and have a plan in place to ensure profitability. Be sure to factor in the costs of company formation , taxes, business insurance and branding. You’ll also need to calculate the cost of the equipment you’ll need to carry out your day-to-day operations. Our guide on how much it costs to start a business covers these costs in more detail. To ensure you’re making a consistent profit, you’ll want to price your gardening services competitively. How much are your competitors charging in your area? The cost of gardening services varies greatly depending on the level of experience, the size of the garden and the location. Equally, you’re likely to charge more for landscape gardening than you would regular gardening jobs such as lawn maintenance and digging new flower beds. The price of a regular gardener can be up to £200 a day, whereas landscape gardening can cost up to £280 a day on average . 7. Keeping and retaining gardening customers Once you’ve carried out your initial gardening jobs, you’ll want to retain those customers going forward. Here are just some ways you can work to maintain a loyal customer base and encourage repeat business: Quality service: This may sound like an obvious one, but the better service you provide, the more likely it is that your customers will ask for more. Ensure you and your team are equipped with the best tools, and follow best practices. Communication: Listen to your customers’ needs and preferences and communicate with them effectively. Update them regularly with the progress you’re making and encourage open communication so you can understand any queries or concerns they may have. Reward their loyalty: You could reward loyal customers for their repeat business. Maybe you could offer a discount on their fifth garden project, or throw in a service for free as a token of appreciation. Words of wisdom from a gardening business owner Owner and Director of Protea Gardens , Nathan Gamba, shares his tips and advice when it comes to starting a gardening business. Any challenges or mistakes you made at the beginning? My mistake was thinking that I would immediately be working 5-6 days a week. But as I was only starting out, I had to build up a client base very slowly. I was working maybe 3 days a week, so covering my rent and food bills was hard. I guess I was fortunate in the beginning to have had a meticulous and hard-working mindset and as time went by, word started to spread in the local community. Looking back now, one of the mistakes I made was charging peanuts for the work I was doing, but in hindsight, that helped me in being recommended to other clients. As my confidence grew, I could then start charging the going rates for what gardeners in the area were charging. What tips or advice would you share for starting a gardening business? My advice would be to never give up on your dream. Life will likely be hard in the beginning as you will need to network and find the work. But if you are passionate about the career you chose, then just keep at it - it will get better! A good tip would be to contact other gardening companies in the area. Maybe even do a few shifts with them as a freelancer. This will at least give you a little extra cash while you build up your own client base. By working for a company that knows you are freelancing, they might pass some work over to you if they get too busy. How SUAZ can help you Starting your own business doesn’t need to feel complicated. Our company formation service can take care of things for you, and support you every step of the way. You deserve to make your business dream a reality. Apply to form your company with SUAZ today. Recommended Readings

Discover the latest trends in self-employed survival rates in the UK for 2025, along with tips for thriving as a self-employed professional in today's economy. The UK’s self employed survival rates for 2025 10 min read Beginner's Guide Table of Contents Categories What is self employment? Top performers: The best self employed survival rates How to thrive as a self employed professional in 2025 Master financial planning Prioritise networking and your connections Invest in ongoing education and mentorship Develop your online presence Ready to kickstart your business? Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Ready for a fresh start where no two days are the same? Starting your own business could be just what the doctor ordered. But if you’re new to entrepreneurship, becoming self employed in the UK can feel like a minefield. As of 2023, 4% of new businesses ceased trading by the end of the first year and 50% within just three years of opening, which can leave you feeling apprehensive. But you’ll be pleased to hear that many self-employed professionals do survive and thrive . In fact, we’ll prove it to you. We’ve uncovered the business survival rates for those self employed, using Companies House data. With this insight, you’ll know which industries are most risky and which are most resilient, to improve your chances of business success. What is self employment? Being self-employed means earning a living from your own business, rather than working for an employer. So you’re essentially working for yourself. Those who are self-employed are usually highly skilled in a particular area or industry, such as writers, tradespeople or lawyers, and many call themselves freelancers . Ultimately, those who are self-employed run their businesses for themselves and are responsible for its success or failure . Top performers: The best self employed survival rates When it comes to new business survival rates for those self-employed, certain professions came out on top. The best-performing self-employed job in recent years is dentists, with 1,595 new dentistry businesses being set up in 2021, and 1,347 still active in 2024 - an impressive 84.5%. Other resilient business areas include vets, with 68.7% of businesses that formed in 2021 still thriving in 2024, and solicitors with 68.4%. A key similarity between these professions is their nature - each of them offers an essential service to the public. Dentists and vets provide essential medical care, while solicitors offer legal advice and support. These services are consistently in demand and aren’t affected by popularity, trends or shifting consumer preferences. The same can be said for electrician businesses, with 59% of those formed in 2021 still going strong today. Electrical work is a necessity in both residential and commercial environments, so it’s no surprise that so many electrician businesses are successful. There’s also a consistent need for electricians, whether it’s new construction, emergency repairs or renovations, their services are always in demand. To improve your chances of business success, you may want to focus on an industry or field that is consistently in demand or essential, to ensure your services remain valuable and competitive, regardless of economic conditions or changing market trends. How to thrive as a self employed professional in 2025 If you’re looking to start your own business, you want it to flourish, right? After all, without a solid cash flow and regular customers, you’ll struggle to maintain financial stability and have the grounds to grow your enterprise. We’ve put together some simple but effective tips to boost your business’ longevity and ensure success. Master financial planning Financial stability is the backbone of any successful business - without it, you won’t have the funds to earn an income or watch it grow. Budgeting wisely is key. Track your income and expenses carefully to ensure you have enough to live on and a budget for growth opportunities. Try to build an emergency fund where you can - this serves as a safety net so you have the funds set aside should you encounter any challenges, such as market fluctuations or emergencies. Writing a business plan can help you with your financial planning. You’ll cover forecasted sales, cash flow and expenses, so you have a complete picture of your business’ finances. Looking to grow your financial knowledge? Working with an accountant or financial adviser can help you manage your taxes, streamline your cash flow and give you the confidence to manage your finances effectively. Prioritise networking and your connections Remember, every business owner in the world was once in your position. Use your network to your advantage and build strong relationships you can rely on. You can use social media platforms like LinkedIn and Instagram to showcase your expertise and connect with like-minded professionals. There’s more to networking than just digital connections - you could attend conferences, networking events and workshops to get your name out there and even find new job opportunities. Invest in ongoing education and mentorship There’s no such thing as knowing too much. Investing in your education can work wonders for your business. Keep up with the latest trends by reading industry publications, attending webinars and following experts in your field. Not only will this keep you equipped with changes and advancements in your industry, but it also increases your marketability. You could even find a mentor to support you on your business journey and help you grow your skills. You’ll have an experienced guide at hand to offer valuable insights, advice and experience to guide you towards business success. Develop your online presence Having an online presence as a business is no longer optional. Having a professional website to showcase your services is crucial to get your business’ name out there and connect with potential customers. Make sure your website is optimised for search engines, known as SEO, to attract potential clients and increase your business visibility. Use social media platforms to build brand awareness and make your customers remember you. A strong digital footprint is crucial for building a reputation and standing out from your competitors. Ready to kickstart your business? One thing’s for sure from our findings - the more your customers need or value your business services, the more likely it is that your business will thrive. Let’s take the performing arts sector for example - while not an essential service, performing arts remains a thriving business venture by providing entertainment and escapism, with 58.1% of performing arts businesses still thriving three years after formation. The top-performing professions often focus on offering essential services that are consistently in demand, ensuring a steady stream of clients regardless of economic change or market trends. But there’s more to business success than the sector you operate in. Focusing on financial planning, investing in your education and developing a strong online presence is crucial for business growth as a self employed professional. So, what are you waiting for? If you’re ready to start your self-employed business venture, we’d love to be a part of your journey. Start Up A-Z is here to support you every step of the way. You can form your business for free (yes, really!) and you’ll have our support there whenever you need it. We believe you have what it takes to thrive. Recommended Readings

Going freelance? It’s important to know what tax you’re liable to pay, how much and when it’s due. Find out how to manage freelancer tax in our helpful guide. Paying tax as a freelancer: a guide 10 min read Beginner's Guide Table of Contents Categories What type of tax do freelancers pay? How much can you earn freelance before tax? How to pay tax as a freelancer Do freelancers charge VAT? Claiming tax relief as a freelancer Tax allowable expenses for limited companies What expenses can I claim as a sole trader? Balancing tax as a freelancer Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Becoming a freelancer opens the door to creative and financial freedom, but it can also bring new challenges, especially when it comes to your taxes. If you’re looking to start freelancing, you may wonder how tax will work and what you’re expected to pay. As a freelancer, you can operate as either a sole trader or limited company, and many freelancers prefer to register as a limited company due to the financial protection that comes with limited liability . Tax on freelancers may sound confusing, but it doesn’t need to be. We’ve put this guide together to break down exactly how to pay tax as a freelancer and how freelancer tax deductions work, so you can focus on growing your freelance business without the worry of tax standing in your way. What type of tax do freelancers pay? As a freelancer, the type of tax you’ll pay will depend on your business structure - whether you operate as a sole trader or a limited company. As a sole trader, it’s your responsibility to pay the right tax on time. How much tax you’ll pay will depend on your profits and how much you earn each year. You’ll pay tax on anything you earn over your tax-free Personal Allowance which is currently £12,570. As a sole trader, you’ll pay between 20-45% income tax and National Insurance Contributions (NICs), which for the 2024-25 tax year are the following: 6% on profits of £12,570 up to £50,270 2% on profits over £50,270 Depending on your earnings, operating as a limited company may be more tax-efficient than being a sole trader. This is because you’ll pay corporation tax, which is usually less than the income tax you’d otherwise pay. If your business earns over £250,000, you’ll pay the main rate of corporation tax at 25%. If your profits are less than £50,000, you'll pay 19% corporation tax - the small profits rate. You’ll also pay two types of National Insurance as director of your business. Your company will pay NIC if it's an employer, and you’ll also pay National Insurance on your salary. Take a look at our guide on self employed vs limited company for more details. How much can you earn freelance before tax? As a freelancer, how much tax you’ll pay will depend on your income and the tax band you’re in. You won’t pay tax on the first £12,570 of your income, known as your Personal Allowance. Your Personal Allowance decreases by £1 for every £2 you earn over £100,000, and if your income is over £125,140 you don’t receive a Personal Allowance. Your income will affect the percentage of Income Tax you’ll pay: Up to £12,570: You won’t pay tax on the first £12,570 of your income, known as your Personal Allowance. So, if you earn less than this as a freelancer you won’t pay Income Tax. £12,571-£50,270: You’ll pay 20% Income Tax. £50,271-£125,140: You’ll pay 40% Income Tax. Over £125,140: You’ll pay 45% Income Tax. How to pay tax as a freelancer So, when do freelancers pay tax in the UK? First, you’ll need to submit an annual self assessment tax return with HMRC. You must register with HMRC by the 5th October after the end of the tax year you became self-employed. You’ll need to submit your self assessment tax return and pay any tax you owe for the previous tax year (known as a balancing payment) by 31st January. Your second payment on account will be due on 31st July. Should you miss a deadline, you may face financial penalties, so it’s best to get it out of the way as soon as possible. In fact, 300,000 people filed their tax returns in the first week of the tax year. You can pay your tax bill online through the government’s website. If you operate as a limited company, you’ll need to pay corporation tax and the deadline will depend on your taxable profits. If your taxable profits are up to £1.5 million, you’ll need to pay your corporation tax to HMRC 9 months and 1 day after the end of your accounting period, which is usually your financial year but you may have two accounting periods in the year you set up your company. The government explains your limited company’s first accounts and tax return here . You can pay your corporation tax through your online banking, through direct debit or online through the government’s website. You can’t pay your corporation tax by post. Do freelancers charge VAT? Regardless of whether you’re a sole trader or limited company, you’ll need to register for VAT if your turnover is over £90,000 or you expect it to go over this amount in the next 30 days. Most goods and services are charged at the standard rate of 20%. You’ll then need to complete a VAT return to let HMRC know how much VAT you’ve charged and how much you’ve paid to other businesses. Claiming tax relief as a freelancer Paying tax on your hard-earned income can feel disheartening as a freelancer. You’ll be pleased to know that you can claim freelancer tax deductions, known as ‘allowable expenses’. These are business costs that HMRC allows you as a self-employed person, sole trader or freelancer to claim as tax expenses against your profits. Your expenses will only be approved if they’re ‘wholly and exclusively’ for business purposes, and HMRC can ask for proof of all allowable expenses that you claim. Some costs you may claim as allowable expenses include: The cost of buying stock and/or the materials you need to carry out repairs and maintenance work Rent or mortgage interest (not capital repayment) on commercial premises Computers, mobile devices, printers and other equipment that you buy and keep within your business, as long as you use ‘cash-basis accounting’ (meaning you record your income/costs in your financial records when you’re paid or make payments) Equipment repairs, office furniture, business stationery Tax allowable expenses for limited companies You may also be able to claim business expenses for your limited company, as long as the expenses you claim have been incurred wholly and exclusively during the running of your business. For example, if your employees use computer screens as a key part of their role, they can claim eye tests as well as health checks as limited company expenses. Other tax allowable expenses may include claiming the cost of accommodation while on a business trip, business insurance costs, and a portion of your household costs and utility bills if you work from home. What expenses can I claim as a sole trader? As a sole trader, you can use HMRC’s simplified expenses to calculate your business expenses, which use flat rates instead of working out your actual business costs. This can save you from needing to carry out any complex calculations. Alternatively, you can calculate your expenses by working out the actual costs. Costs you can claim as allowable expenses include things like office costs (such as stationery and equipment), travel costs, staff costs and financial costs like insurance. Usually, as a sole trader, you can claim expenses once a year when completing your self assessment tax return. You can use the government’s simplified expenses tool to see which method would work best for you. Balancing tax as a freelancer How you’ll navigate tax as a freelancer will largely depend on how you run your business - either as a sole trader or limited company. Your business structure also affects the tax relief you’re entitled to, which can also lower your tax bill. Knowing how to pay tax as a freelancer can feel daunting, and you may worry about submitting the wrong form or misunderstanding the tax relief you’re entitled to. Working with an accountant can alleviate any pressure or anxiety you may have, knowing you can rely on a professional to take care of things for you. Once you’ve formed your business with SUAZ you’ll gain exclusive access to BSC’s business marketplace. BSC can match you with the right accountant for your business needs, so you have your tax queries taken care of. Ready to kick start your freelance journey? Form your company with SUAZ today . Recommended Readings

Learn the most efficient way to pay yourself as a limited company director by making a withdrawal using a salary and dividends. The most efficient way to pay yourself as a limited company 12 min read Company Formations Table of Contents Categories How to withdraw money from a limited company Salary How much to set as a limited company’s director salary Dividends Director’s loans Expenses reimbursement Do pension contributions reduce your taxable income? Paying yourself as a limited company Beginner's Guide Business Trends Company Formations Start-Up Finance Virtual Office Starting your own business is a major achievement, and it’s likely you’ve invested a lot of time and money into your new enterprise. With this in mind, it only makes sense that you want to take home as much money as possible from your business, so the hard work is all worth it. When running a limited company, paying yourself efficiently is crucial to maximise your income and minimise the tax you pay. Operating as a limited company not only protects you personally through limited liability protection , but also grants you flexibility as to how you pay yourself as a company director. The most common and tax-efficient way to pay yourself as a limited company owner is through a combination of salary and dividends. But how does paying a dividend from a limited company work? If you’re searching ‘how to pay myself as a limited company’, you’ve come to the right place. We’ve put together this guide, detailing how to pay yourself a salary from a limited company, so you know the most efficient, tax-effective ways to receive income from your new enterprise. How to withdraw money from a limited company As a limited company, your business is treated as a separate legal entity to you and other owners and is legally classified as an ‘individual’ in the eyes of the law. This means that all finances belong to the business itself - so you can’t just withdraw money from your business the same way you would from your bank account. There are several ways you can withdraw money from a limited company, which we’ll explore below. Salary Wondering how to pay yourself a salary from a limited company? As company director, you can pay yourself a salary through HMRC’s Pay As You Earn (PAYE). But first, your limited company needs to be registered with HMRC as an employer, which you can do online. Remember, depending on how much you pay yourself, you may need to deduct tax and national insurance contributions and pay them to HMRC. As a limited company, your business won’t need to pay any Corporation Tax on salary payments, as they are seen as business expenses and are tax-deductible. But your business will need to pay 13.8% employer’s National Insurance contributions (NIC) on your annual salary earnings above the secondary threshold of £9,100 (2024-25 tax year). To minimise your tax bill, you may choose to pay yourself a salary up to the NIC primary threshold (£12,570 a year) to avoid needing to pay Income Tax and NIC. You can then take the rest of your income as dividends, which we’ll go into more detail on later. How much to set as a limited company’s director salary Wondering how to pay yourself a salary from a limited company? To minimise the amount of income tax due, many directors choose to pay themselves a small salary from their business. For example, if you pay yourself up to £12,570 per year (as long as you have no other relevant income within the tax year) you can avoid paying income tax and NIC. You can then choose to take the rest of your income as dividends, with the first £500 being tax-free in line with the annual dividend allowance. If you pay yourself between £12,571 and £50,270 you’ll pay 20% income tax, and 40% if you pay yourself between £50,271 and £125,140. Anything over £125,140 is charged at 45% income tax. Don’t worry - if you only pay yourself up to the primary threshold of £12,570, you’ll still qualify for the State Pension because you’ll be earning above the lower earnings limit of £6,396 per year. Dividends If you’re also a shareholder, you can choose to take dividend payments on top of your salary. There’s a tax-free dividend allowance of £1,000 for the 2023-24 tax year, meaning you can take up to £1,000 in dividends before needing to pay income tax on it. This is on top of the personal allowance threshold of £12,570. Once you exceed this amount, the amount of tax you’ll pay will depend on your tax band, which is calculated by adding your total dividend income for the year with your director’s salary and any other income you receive. Basic-rate taxpayers: 8.75% tax (if you receive dividends over the personal allowance, up to the value of £37,700) Higher-rate taxpayers: 33.75% tax (if you receive dividends over £37,701, but less than £150,000) Additional-rate taxpayers: 39.35% tax (if you receive dividends over £150,000) Steph Gemson, Chartered Tax Advisor at TaxGem , explains, ‘ Directors who are also shareholders of their owner-managed business, may take dividends via their shareholding, as long as the company has sufficient distributable profit reserves. ‘Dividends benefit from lower personal tax rates (of just 8.75% up to £50,270, 33.75% up to £125,140 and 39.35% thereafter), with no National Insurance. So, although they are not considered to be tax deductible in the company, there can be some income tax savings for the recipient. Dividends will need to be declared on the shareholders’ personal tax return and tax due on them paid over to HMRC on the 31 January each year, following the end of the tax year.’ Director’s loans Another option when it comes to paying yourself from your business is to take out a director’s loan. However, it’s important to note that a director’s loan is a form of borrowing from your company, rather than income you’ve earned through your work. This means that just like other forms of borrowing, the funds taken as a loan will need to be repaid. Director’s loans are typically used to cover short-term or one-off expenses such as emergencies. When it comes to tax implications, should you not repay your loan within nine months and one day of the company’s year-end, you’ll owe a significant amount of tax. If you repay the loan within nine of the end of your Corporation Tax accounting period , you’ll need to show the amount owed at the end of the accounting period when you prepare your tax return by using form CT600A. If the loan was more than £5,000 and you took out another loan of £5,000 or more up to 30 before or after you paid it off, you’ll pay Corporation Tax at 33.75% of the initial loan, and 32.5% if the loan was made before April 6 2022. The same amount of tax applies if the loan was more than £15,000. Once you’ve repaid the original loan, you can reclaim the Corporation Tax but not the interest. Should you not repay the loan within nine months of the end of your Corporation Tax accounting period, you’ll pay Corporation Tax at 33.75% of the outstanding balance or 32.5% if you took out the loan before April 6 2022. Interest on the Corporation Tax will be added until you’ve paid Corporation Tax, or repaid the loan. We appreciate the tax rules around director’s loans may sound complicated, so for more details take a look at the government’s information on director’s loans . Expenses reimbursement Made purchases ‘wholly and exclusively’ for your business? You may be able to claim these costs as legitimate business costs. This means you’ll receive tax relief on these expenses and you’ll also be able to reimburse yourself for the cost. Types of expenses you may be able to claim for include: Office costs such as broadband bills Equipment Business insurance Travel cost (business miles) Professional services Software costs Client entertainment Do pension contributions reduce your taxable income? As company director, making pension contributions could save you and your limited company a significant amount of tax. By choosing to take a smaller salary and the rest of your income in dividends, the amount of tax relief you receive on pension contributions from the government is likely to be very little. This is because dividends aren’t seen as ‘relevant UK earnings’, so the tax relief you receive is based on your salary alone. But by contributing to your pension directly from the company, your pension contributions will immediately enter a tax-free environment, so there's no need for tax relief. Your contributions will be treated as a business expense, reducing your business’ taxable profits and your Corporation Tax bill. It’s important to note that there’s a limit on how much you can contribute towards a pension each year, to still qualify for tax relief. This is usually £60,000 per year, but may be less if your income exceeds certain thresholds. For higher earners, the annual allowance is reduced by £1 for every £2 you earn over £260,000. Paying yourself as a limited company There are several ways to pay yourself as a limited company, and a combination of salary and dividends is one of the most tax-efficient strategies to optimise your income, while adhering to tax regulations. Looking to start your own business? We’d love to play a part in your business journey. With us, you can form your company for free, with advice and support every step of the way. Form your limited company today and prepare for an adventure like no other. Recommended Readings