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  • Chapter eleven: Protecting the intellectual property of your business

    Your business’s intellectual property (IP) are intangible assets created by intellect, such as branding, logos, slogans, inventions, photographs, illustrations, and taglines.  A competitor might copy your IP if you don’t protect it, which could damage your business. There are various ways to […]

  • Chapter ten: Networking

    Networking is an important activity for new small business owners. It’s a way to connect with and learn from other business owners, meet useful experts and connect with potential customers or clients. In addition, launching your own small business can be lonely, so attending events can also help […]

  • Chapter nine: Marketing your business

    Once you’ve launched your business, you need to get your products or services out there. To help you generate sales, it’s a good idea to create a marketing plan. This document should outline how you’ll communicate the benefits of your products or services to your target customers, the pricing […]

  • Chapter eight: Setting up a supply chain

    A supply chain is the system of supplying a product to a customer and it’s a process that entrepreneurs running a product business must get right. If you end up working with unreliable suppliers or you pay too much for your supplies, you could end up losing customers or reducing your profits. […]

  • Chapter seven: Tax explained

    There are various taxes you need to be aware of as a business owner and you should consider seeking independent, professional tax advice to ensure you pay the right amount. Income tax Income tax is personal tax paid on income, including the profits made by self-employed people. Most people in the […]

  • Chapter six: Access to finance

    You may need funding to start your business, for which you have several options.  Before accessing finance, be clear about why you need it and how you will spend the money. It may be a good idea to seek independent, specialist financial advice to help you answer those questions. Most funding […]

  • Chapter five: Business finances explained

    It is vital that you understand finances when running your own business. You need to keep an eye on how much money your business is making so that you can fix any problems. Keeping track of your finances will also allow you to identify if you need to access external finance to close cash flow gaps […]

  • Chapter four: Incorporating your business

    To incorporate your business as a limited company, you first need to choose a name.  It can’t be the same as the name of another registered company. You can check company name availability on the Gov.uk website. Limited companies have various responsibilities including keeping company records and […]

  • Chapter three: Company structures explained

    One of the first decisions a new business owner needs to make is deciding on which business structure they will trade under. The structure you select will affect many things, including the amount of tax you need to pay and your level of personal liability for any losses your business makes. You […]

  • Chapter two: Business strategy and plan

    A well-written business plan is a key step in putting your business on the road to success.  A business plan helps to clarify business objectives and the roadmap to achieving them.  It is also an important document when applying for funding. A business plan should be a living document that you […]