Starting Up a Business
Starting up your own business requires dedication, hard work and a profitable idea or business plan to be successful.
There are various things you need to think about including:
- The legal structure of your business e.g. sole trader, limited company, partnership, social enterprise
- Do you understand what business and financial records you have to keep?
- Do you understand tax and VAT requirements?
- Is there a demand for your product or service? Who are your competitors? Have you done any market research?
- How will you promote your product of service?
- Are you going to employ people?
- Do you need business premises?
- Do you need a specific licence to run your business? For example do you need a personal or premises licence for a business selling alcohol? Or the regulations around operating a food business.
- Business and financial plan - have you written a business and/or financial plan so you can manage your time and money?
- How will you fund the start up costs?
For one to one advice and support with one of our business advisors:
email: supportingbusiness@lincoln.gov.uk
or call: 01522 873341