Kennedy Posted October 11, 2009 Share Posted October 11, 2009 Well I currently work in IT doing service desk work and i've gone through uni studying computer science.I was thinking about setting up by own business doing remote IT support (I know a few very clever people who would be able to help if I get stuck in an IT sense) but I was wondering if anyone knows what I need to do and how I go about setting the business up, registering the company etc?It will be a part time venture at the min and i'll be working at it in my free time.Any help will be appreciated Quote Link to post Share on other sites
Driver Posted October 11, 2009 Share Posted October 11, 2009 i work full time at ventura wank isn't it haha Quote Link to post Share on other sites
Steve GT Posted October 11, 2009 Share Posted October 11, 2009 sounds like a good idea budi think theres a grant out there you can get to give you some money to set up a business and i believe they provide you with all the help and support you'll need in succedingim not sure where or how to find this though sorry bud Quote Link to post Share on other sites
Kennedy Posted October 13, 2009 Author Share Posted October 13, 2009 ^^cool thanks mate, i'll look into it.Anyone else got any handy info? Quote Link to post Share on other sites
gaz Posted October 13, 2009 Share Posted October 13, 2009 You will have to work hard, more so than you think.You will need to research first of all, compare your services to others.You ideally need a niche. But really you need to think hard about what you will provide better than anyone else. A USP (unique selling point).You will need to write up a business plan, a good business plan takes alot of time on its own its not just a case of writing what you will do. It needs back up plans, calculations, profits, losses, contacts...These can be discussed with your bank. Also they will have templates on the internet. They can be in excess of 30 or 40 pages.Some examples of things you need to involve in your business plan include things like (probably worth looking these up) - Sensitivity analysis - If your business was to drop sales by 40%, can you still cover all the outgoings? SWOT analysis - Strengths, Weaknesses, Opportunities, and Threats. A term used - 'Fag packet calculation', which is a quick summary of the money you can make, net profit, revenue, profit, expenses.Once you done that which can take some time, you need to create a company name, brand and posssibly a website. This all will cost money. You then need to finance the start up costs, which could be your own money, an angel (investor) or a bank business loan.You will not be able to get anywhere without a solid business plan, I can not explain just how crucial it is. It needs to cover everything you can think of and more. So this way you can never fail becasue you would have already have planned not to!Then you have legal things, copyrights, NDA's, deals, documents all sorts of shit which is probabaly best learning from your bank.I really could be here all day! Quote Link to post Share on other sites
gaz Posted October 13, 2009 Share Posted October 13, 2009 http://www.newbusiness.co.uk/http://www.entrepreneur.com/howto/startyourbiz.htmlhttp://www.businesslink.gov.ukhttp://www.ipo.gov.uk/home.htmhttp://wck2.companieshouse.gov.uk/7f112d86...panyInfo#resulthttp://www.startups.co.uk/http://www.statistics.gov.uk/hub/index.html Quote Link to post Share on other sites
Steve GT Posted October 15, 2009 Share Posted October 15, 2009 haha bloody hell gaz ever considered a career in business advising? lol you seem to know your stuff dude :harhar: Quote Link to post Share on other sites
gaz Posted October 15, 2009 Share Posted October 15, 2009 Lol. Cheers mate, I have interest in lots of things and at the top of that list is business and entrepreneurialism. Quote Link to post Share on other sites
molovin Posted October 15, 2009 Share Posted October 15, 2009 Many many hours on a bussiness plan and i assume you want to be a sole trader? Depending on your income for annum the bank may be able to supply you with a bussiness guidance pack which will allow you to have a step by step criteria to follow for setting up a bussiness.I work for " major high st banks in the business sector i just which you the best of luck as many first busniess dont get off to a great start and in this current climate lending is still a issue.If you can manage to get your hands on a city and guilds grant youl have a better start :-D Quote Link to post Share on other sites
gaz Posted October 15, 2009 Share Posted October 15, 2009 Yeh it's not really the best time to start a business, but in some ways it can be.Statistics have shown most business's fail in the first year. But what they don't show is why. Most people change their mind, find another business, move on, family problems, bank problems and so on...Alot of business's don't fail just due to he market, there are lots of reasons.Not only that most business's also fail because the correct planning has not taken palce. They fail because of the founder and not always the market. Quote Link to post Share on other sites
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