{"version":"1.0","provider_name":"123 Reg Blog: Small business tips, insight and advice","provider_url":"https:\/\/www.123-reg.co.uk\/blog","author_name":"Will Stevens","author_url":"https:\/\/www.123-reg.co.uk\/blog\/author\/will\/","title":"The beginner's guide to setting up a business | 123 Reg Blog","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"xr7geASqIQ\"><a href=\"https:\/\/www.123-reg.co.uk\/blog\/online-business\/starting-a-small-business-guide\/\">The beginner&#8217;s guide to setting up a business<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.123-reg.co.uk\/blog\/online-business\/starting-a-small-business-guide\/embed\/#?secret=xr7geASqIQ\" width=\"600\" height=\"338\" title=\"&#8220;The beginner&#8217;s guide to setting up a business&#8221; &#8212; 123 Reg Blog: Small business tips, insight and advice\" data-secret=\"xr7geASqIQ\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script>\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/www.123-reg.co.uk\/blog\/wp-includes\/js\/wp-embed.min.js\n<\/script>\n","thumbnail_url":"https:\/\/www.123-reg.co.uk\/blog\/wp-content\/uploads\/2015\/06\/rocket-launch-67643_1280.jpg","thumbnail_width":175,"thumbnail_height":175,"description":"So you\u2019ve got an idea for a new business, but what\u2019s next? Setting up your own business can be a long and complex journey. With so many things to do it can be hard to keep track. To help we\u2019ve put together this guide which highlights all the major tasks you\u2019ll have to undertake as you get up and running. There are links to resources telling you all you need to know about each subject. It\u2019s not a step-by-step guide \u2013 every business will have its own journey \u2013 so dip in and grab the information you need and bookmark it so you can come back when you need to. Test the market Your business idea may seem fool proof to you, but will people be interested in what you\u2019re planning to offer them? It\u2019s important to test the market before you launch. You may find your idea needs work and it\u2019ll save you time and money if you make those changes before you launch. Learn how to test your idea with this video. Choose your business name In some ways a good business name is a matter of personal preference. However, there are some things that you have to be sure of. First, ensure you won\u2019t infringe anyone else\u2019s intellectual property. If you do, it could prove to be exceedingly costly. Your name should also be brandable. You can get the lowdown on these things in this guide. Choose (and register) a domain name It\u2019s important to register your domain name as early as possible. If you don\u2019t, there\u2019s a risk that someone else will snap it up before you. Although it is possible to buy domains that have been registered by someone else, the cost of doing so is usually many times the cost of getting an unregistered domain. You can find out what makes a good domain name here. Get funding How will you get the money to fund your business before it starts turning a profit? Maybe you\u2019ll keep your day job on. Or perhaps you\u2019ll get a business loan, or seek other sources of funding. If you are looking for outside sources of funding, you\u2019ll undoubtedly need a business plan first. You can learn about funding options here. Develop your brand and start communicating as it Developing a brand is a lot of work, but it will also provide you with a lot of useful information. This step will help you understand your potential customers and how they will expect you to communicate with them. You can learn more about developing a brand in this webinar. Develop a web presence If you\u2019re going to be doing most or all of your business online, then it\u2019s vital that you get your website up and running as quickly as possible. Design, search engine optimisation, analytics and online marketing are all things you\u2019ll have to get to grips with. We have a wide range of online marketing guides, which you can find here. Recruit or find trusted suppliers If you\u2019re selling a product, you\u2019ll need stock or raw materials. That means you\u2019ll need to find reliable suppliers to provide you with what you need. Ask your current contacts. Look at recommendations from industry bodies. Find independent editorial reviews. Once you\u2019ve found them, ask to speak to their current customers and check accreditations. Develop a business plan A business plan is crucial. In it you\u2019ll outline your expectations for the business and give details of how you\u2019ll achieve these goals. Without a business plan, you won\u2019t be able to secure outside funding. You can learn more about what should be in a business plan here and download a business plan template here. You can see examples of business plans here. Register your business Will you be a sole trader, limited company or a business partnership? This decision will affect things like the taxes you\u2019ll pay and your responsibilities if the business makes a loss. This guide from Gov.uk takes you through everything you need to know. However, if you\u2019re not certain you may want to seek out the help of a business advisor. Arrange legal and contractual documents Your options here are limited. You\u2019ll either need to hire a legal professional, or download template contracts and adapt them for your needs. The latter is only a possibility if you have a full understanding of what legal issues your business will face. If you\u2019re not sure about things, it makes sense to seek the advice of a lawyer. Understand your banking and financial position As well as an accountant, you\u2019ll need a business bank account. There are plenty of options out there, so work out what will suit you best. You\u2019ll also need to understand cashflow issues your business may face, especially if you\u2019ll be offering credit to customers. A business adviser will be able to help you find the right bank account, while you can learn more about cashflow here. Understand your tax position The taxes you pay as a business will depend on the kind of business you\u2019ve registered. However, you\u2019ll need to understand exactly what you\u2019ll be expected to pay and why, so there are no nasty surprises. You may want to hire a good accountant at an early stage to help you with this. Register intellectual property Are you bringing a new product to market? If so, have you secured patents? What about your name? Have you looked into securing trademarks to make sure no one can impersonate you? Securing your intellectual property isn\u2019t the most glamourous thing you\u2019ll do when setting up your business, but it could be one of the most important. You can learn the basics of intellectual property here. Decide if you\u2019ll need premises If you\u2019re a one-man band, the chances are you\u2019ll be happy running things from home. However, if you plan on opening a physical store, expect to take on staff, or will meet face to face with clients, then you\u2019ll need premises. There are a huge range of"}