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Plenty to think about when setting up a new company

Setting up a new company can be an exciting time. The thought of being your own boss and realising your ambitions is a tantalising prospect and, if you’re successful, you stand to reap potentially significant financial rewards.

However, there’s no getting around the fact that you’ve got plenty of hard work ahead of you and there is plenty to think about. Particularly if you’ve got little or no experience of company formation, you’ll have a steep learning curve to negotiate.

Help is at hand

The good news is that help is at hand. By using the starting up and company formation documents we provide here at Simply-Docs, you should find the process easier. These business documents are constructed in Word in a stable format and they can be edited to suit the needs of your business.

Whether you’re setting up as a sole trader, creating a private company limited by shares or teaming up to form a partnership, our documents will help guide you through each stage of the process.

Peace of mind

Having these business documents templates at your disposal can really boost your peace of mind. You’ll know that you’re following the right track and can rest assured that they are user-friendly and professionally drafted.

Getting your hands on the resources requires a small amount of expenditure, but this should prove to be a great investment. Not only will the documents make your life easier, they will also help you avoid mistakes that could cause you hassle and expense further down the line.

Research your market

Of course, there are lots of other issues to think about too. For example, before you commit too much time and energy to the project, it’s crucial that you research your market to establish whether or not your idea is viable. Talk to potential customers and find out if there is indeed a niche in the market.

You could also test your product or service with real customers and adapt it until you’re certain there is demand for it.

Getting funding

You’ll also need to think carefully about how to finance your venture. Without sufficient funding, your fledgling company won’t stand a chance.

There are a number of options. Perhaps you’re in a position to fund your new firm yourself, or maybe you’ll need business finance or a bank loan. Alternatively, perhaps you’ll be keen to take advantage of government-backed schemes.

Your premises

Then there are your business premises to consider. Depending on the nature of the company you’re planning to set up, you might be able to use your home as a base initially. This will help minimise your overheads.

If you need to take premises on, you’ll need to think about whether to rent or buy, and find a property that’s within budget, in the right location and has all the resources you need.

Find out more

If you’re interested in the corporate documents we have to offer and think they may be able to help you, just take a look around the relevant section of our website.

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