Lloyds TSB - Opening doors for new businesses
If you’ve decided to go it alone, we can help you get started. Our local business managers will work with you, offering support & guidance every step of the way.

Featured Articles

Featured article

Starting up a new business?
From choosing a business structure, to paying tax, raising money, and employing staff. Find out how in our 22-part guide. [In Start-Up Guides]

Featured article

What is professional indemnity insurance?
PI insurance will cover the costs of any compensation sought by a client as a result of negligence, and should also cover any legal costs. [In Insurance]

Free business banking

How to get Free Business Banking
Free business banking is something all business owners strive for, but what does "free" actually mean, and what should you look out for when opening a business account? [In Business Banking]
Is the New Year the perfect time to start up a new business?
According to the ICAEW, the start of a new year is a good time to think about starting up on your own, and given the importance of SMEs to the community, the Government is currently conducting an enquiry into entrepreneurship. [January 26, 2012]

All businesses must submit their VAT returns online from April 2012
Time is running out if for businesses used to submitting paper VAT returns each quarter. From April, all VAT registered visitors will have to submit their returns via the web, and settle their liabilities electronically too. [January 25, 2012]
 
Surge in CVS small business investment prior to scheme closure
Figures show that investment under the Corporate Venturing Scheme surged by 65% in its final year, leading some experts to suggest that the Government were too hasty in scrapping the scheme. [January 24, 2012]
 
Steps you should take when choosing a business name
Why not give yourself the best start on the road to success by developing a name that's a cut above the rest and one that resonates with customers and separates you immediately from competitors. [January 23, 2012]
 
Record number of self employed due to lack of traditional work, rather than entrepreneurialism
As the number of unemployed continues to rise, the economic downturn has created a surge in self employment, with over 4.1m people now working for themselves. So, what is this dramatic rise due to? [January 20, 2012]
 
Travel and accommodation expenses for the self-employed
Are you a self-employed person who regularly travels on business, and does that travel ever entail an overnight stay away from your home? Here are some top tips on whether you can include some or all of those travel and accommodation costs in your business’s accounts. [January 19, 2012]
 
The twenty-first century entrepreneur
Changing business circumstances are a fact of life. Technology has moved the goalposts, made routine tasks a lot easier and delivered a revolution in the way we communicate with clients, customers, partners and just about everyone we come into contact with. Some thoughts for the 21st century entrepreneur. [January 18, 2012]
 
What to do when a client refuses to pay or can't pay
Worse than slow paying clients are those who refuse to pay or can’t pay. Before you refer them to a debt collection agency, there are many things that you can about it do yourself. Here are three common client payment problems – and what to do about them: [January 16, 2012]
 
Guide to successful business planning
There is a lot to be gained from business planning but many businesses will search for a million reasons to avoid it. However large or small your business is, planning for the future is critical to its success. [January 12, 2012]
 
Top 10 tips for choosing an accountant
Of all the advisers you are likely to encounter when running a small business, a good accountant is perhaps the most valuable one to have. Our Top 10 tips for choosing an accountant. [January 11, 2012]
 
Professional Indemnity Insurance Guide
A beginners' guide to Professional Indemnity Insurance - how this type of business insurance cover works. You can also get an instant PI quote online. [January 10, 2012]
 
What is Corporation Tax? A guide for small businesses
What is corporation tax?, what are the corporation tax rates?, and how to submit your annual company tax return (CT600) to HMRC. [January 9, 2012]
 
How to set up in business as a partnership
If two or more people wish to go into business together, but without going down the limited company route, a partnership offers a simple way to get started. [January 6, 2012]
 
What is a dormant limited company?
A dormant company is one that doesn’t trade and has no accounting transactions. Why you might need a dormant company, and what administrative duties are involved. [January 5, 2012]
 
What is a Business Plan?
A business plan is a document which captures how you expect your business will grow, according to a large number of factors such as funding, how the market behaves, the people involved in the business, and - of course - how successful you are at selling your product or service. [January 4, 2012]
 
How to finance a start-up without breaking the bank
Before you turn to the bank for a loan, think about creative ways to finance your business without raising start up capital from external sources. [January 3, 2012]






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Starting up a new business?

If you are thinking about going it alone, here are some important things to bear in mind.

1. Are you cut out for running your own business?

2. Do you want to be a sole trader, or work via a limited company?

3. Work out what skills you have, and which skills you will need to source.

4. Make sure you have enough funds to get the business off the ground.

5. Don't underestimate your competition.

6. Is there a market for your business to operate in?

7. Have you written a business plan (even a very simple one)?

8. Are you willing to hire people if needed?

9. Make sure you find a good accountant.

10. Always keep on top of your cash flow management!

Find out more in our Start-Up Guides section.