The Simplest Way To Start A Business: Sole Traders

Most small businesses start off small. Seems obvious, doesn't it?

When you're thinking of starting a new business, it's easy to get carried away and start to think that you need all the things big business has. You don't. The most effective way to start a new small business is often as a sole trader. Register with the HMRC so that you get sent a tax return, and that's pretty much it.

Download this form (CWF1) from the HMRC site to register as self-employed

Laughing All The Way To The Bank

If you thought trying to find a personal current account was confusing, try looking for a business banking account!

Personally, I don't subscribe to the idea that finance is complicated: at least it shouldn't be. What causes confusion is the endless parade of special deals for new businesses, limited offers and tiered rates. My basic rule when looking at these things is simple: if it can't be explained to me on a side of A4 then I don't sign up!

I've found the British Bankers Association web business banking comparison site useful. It's run by business end of Moneyfacts, called not surprisingly, Business Moneyfacts. At least it gives you somewhere to start and is impartial. During the search you can specify if you need a company credit card or an overdraft for your firm.

You can find the BBA search here.

Does Your Business Look The Part?

There was a time when all the small business owner needed (apart from a bank manager willing to offer a business account and loan, of course) was a word processor, and hey presto! A company letterhead which looked really professional. But the 80s are way in the past.

A company identity isn't something the new small business owner needs to spend a fortune on: your local printing shop will be able to provide something which looks the part. (Full branding is something which can probably wait, unless you're building an e-commerce website).

There are also many websites around which will create a customized logo for you: one I came across the other day is logojeez.com.

Although it's based in the US, they do provide logos for businesses in the UK, it seems. Worth a look.


You'll find plenty of others knocking around too.

A Twisted Web?

What comes first, the chicken or the egg?

Starting a new business brings this old question back to the fore in a slightly twisted form, especially if you're planning to use the web to attract customers or to sell:

What comes first, the domain name or the business name?

It's a tricky one, and it seems to me that a lot of people rush into business without thinking this through. I know it's something I've done in the past.

The problem is that many descriptive domain names are already taken and if you don't stop and think you'll end up with something like 'i-got-this-domain-name-cos-all-the-best-ones-were-gone.com'. (Good luck trying to get that brand to cut through, by the way).

There's no easy answer and in truth it's a balance of the two. Remember: just because you can buy a domain online instantly, doesn't mean you should. (Although it's flippin' tempting...)

Welcome to The Small Business Maze UK

Hello, welcome to The Small Business Maze UK which aims to offer tips and tricks from one small UK business to another.