The Angel of Inventors since 2009
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  • Business

    Starting up your own business varies a bit from country to country, depending on existing regime. I mean for instance if you are on communist side then the meaning of private business is next to non-existant.

    Talking about business by western standards it is more or less same all over although conditions of registering your venture and  taxation may vary.

    As a young entrepreneur in Britain , I have no vast business acumen yet , but surely I can point out some important steps when you are about to start up :

     

    1. Make clear the form of your business – Are you  self employed or  is it Charity,  Limited Company (LTD.) ,  Public Limited Company (PLC.) , Private Equaty Firm or something else.

    2. Do your Business Plan -  Do not register your company unless you have it !

    3. Come up with names  like Company name, brand name & domain name.  They do not have to be the same, but if they are one it makes it stronger ! I believe it can be extremly important to match brand name & domain name on main suffix .com  It is wise to check up domain first and then design your brand.

    4. Register your venture. If its a company then in company house.  In Britain it costs you only £20 !

    5. Protect your IP & insure your business. – It means anything you have created has to be protected for one way or the other. Copyright, Franchiese, Trademark or Patent if needed. Also the domain name you have bought should be rounded by other suffixes like .net .info and the country one such as .ee

    6. Open up Business account and saving account in local bank. The last one is for tax purposes, as you have to pay your tax by the end of the tax year you better make sure its there !

    7. Find your premises if needed , unless you having a bedroom company ‘ .

    8. Get yourself accountant , so your business can be more efficient. It actually can save your money and also give help with re-investments to your company.

    9. Promote your business. -  Homepage , adds, flyers , networking, good causes ect.

    10. Work hard to be on the top of the game !

     

    Obviously there is a lot to learn how to run succsessful business, but start up your company is not that complicated as far you know what you are doing.

    For more information you can visit :   www.myownbusiness.com  

     

     

    © Leo Siemann 2015