Are you starting an online business? If you’ve never done it before, the process can seem overwhelming. But do not worry. After reading this piece, you will better understand how to get started.
One of the advantages of setting up a business in the UK is that you don’t have to go through a lot of paperwork. You can register with the Registrar of Companies and HMRC by filling in online forms and paying a small fee. Besides, you must present the annual accounts to the Mercantile Registry.
Aspects to consider
If you are thinking of setting up a business in the UK, there are several issues to keep in mind:
- First, you must ensure that you comply with all relevant regulations. Such as, if you are trying to sell products on the Web, you’ll need to know if those products are subject to import restrictions. Besides, you may register for VAT if your business is UK-based.
- Next, consider whether your business is eligible for government grants or financial assistance. Some companies may qualify for the grants, while others may not.
For example, if your company dedicates to agriculture or livestock, you may be eligible for agricultural grants from DEFRA (Department for Environment, Food and Rural Affairs).
However, if you focus more on providing services than physical products, you will not be eligible for this support. It is due to its service nature rather than something tangible like agricultural products such as vegetables, fruits, etc.
Lastly, ensure your business has a solid marketing plan before launching anything online. Because with the proper marketing techniques, even the worst idea could succeed.
Step-by-step guide
A very important step before beginning a business in the UK is to visualize your brand.
Idealize your Brand
A brand is a way of expressing your company’s identity to the world. It is essential for online businesses and physical companies. A great brand will help customers identify with you and make them feel like they can trust you. Remember that they spend their hard-earned money on your products or services.
You can define your brand in many ways: what your company stands for, how it communicates with customers, or who works for it. etc., the list goes on! An excellent way to take off is to think about what makes your company unique and figure out the best way to communicate it. You must consider the design, language, and other elements that make up your site.
Register your domain on the web
To establish an online business, you’ll need to register your domain name on the web. Here’s what you need to know about registering your domain:
- You may register any UK domain name, but there are limitations to the available terms. For example, a domain name cannot be too similar to another UK-registered name or existing trademark.
- Registration of a UK domain costs £1 (approximately $1). The registration process usually takes about five days to complete.
- When registering a UK domain, you must provide information about who owns the site and how it will work. It includes details such as contact information for the site´s manager and the content allowed on the site.
Create the specific site
One of the most significant factors is to create your own company. It is because, in the UK, It exists various laws for businesses. You need a company to sell products or services online legally.
If you need to become more knowledgeable in online business creation, you can hire someone with experience in this area. It may help you figure everything out quickly and easily so you can focus on selling.
Register the Brand
You can do it through the Mercantile Registry or another service provider. Register your company as a Limited Company (Ltd.), which means shareholders, with limited liability for the debts incurred by the company, own the enterprise.
When you have already registered your business, you have to apply for an Employer Identification Number issued by the IRS. It is necessary to be able to file tax returns, open bank accounts, and hire employees.
Create an Internet Merchant Account
An Internet business account is a bank account that allows businesses to accept credit cards over the Internet. It is an essential tool for any company that wants to do business online.
There are many diverse types of accounts available, but they all share some standard features:
- It can accept major credit cards such as Visa, Mastercard, and debit cards.
- It should take commissions only when transactions occur.
- A specialized customer service team.
Promote your brand correctly
For your business in the UK to prosper, you need to promote your business well. You must have a website that is easy to navigate and has all the information about your products.
You also must own a blog where you can post articles about your business; it will allow you to answer potential clients’ questions and keep everyone up to date with the news.
It is ideal to post to Facebook, Instagram, Twitter, and LinkedIn at least once daily. But remember, do not post only once a week or even once a month; this is no longer how people connect with brands. People want to see what is happening with their favorite brands daily and look forward to it.
