When you have a business idea, you’ll want to do everything you can to get going as quickly as possible. Whether it’s a complex B2B model or just a baking company, there’s a lot of admin to get your head around… and this can delay you in getting selling!
In this article, we run through everything you need to know about setting up a business in 2023, including where you might want to get help along the way.
Let’s get started!
Find your niche
A idea is great, but, as all classic business advice dictates, in order to be successful it must have a Unique Selling Point. This doesn’t mean finding anything crazy or out there, but it does mean really thinking about where you can add value to the consumer. Is your product made of better materials, for example? Do you have a sustainability angle to look at? Considering this ahead of making any business decisions allows you to set things up well.
Write up a business plan
Whilst not necessary for all business models, writing up a business plan is a great way to gain clarity on your ideas in early stages. It will also help you to secure funding if this is something you need to do.
Register your business
This is where the real admin comes in… From registering your business according to local laws to setting up corporate bank accounts and filing legal documents, things can quickly get overwhelming. The best thing to do is to hire someone who can help with everything you need to get off the ground. At EWS, we handle:
– Business license application
– Corporate bank account
– Guidance on company type
– Legal documentation
– Office space
– Trade name registration
– VAT and Tax registration
– Visa allocation
So that you don’t lose valuable time in set up!
Decide on your hiring model
Another key consideration in this stage of setting up your business is figuring out whether you will look to open physical offices or hire and work remotely. In this age of hybrid working, many organisations will do both. However, new companies might choose to work solely out of a virtual office so as to cut costs. Strategies such as Google Maps verification and phone answering allow them to increase their presence globally.
Plan your marketing strategy
Of course, a key aspect of any business is its marketing strategy. Deciding early on how this will work is key. Will you advertise via social media, for example, or use paid search engine ads? Will you do any physical advertising? The key is finding where your audience are and meeting them there. Write out your business goals and brainstorm how you can meet them.
For any support with company formation, get in touch with EWS. Our complete solutions allow you to get set up in a fast and future-proof way.