1. What Is a Franchise? A franchise is a business model where you (the franchisee) purchase the rights to operate a branch of an established brand. In return, you follow the franchisor’s system, pay ongoing fees, and benefit from their…
1. What Is Corporation Tax? Corporation tax is a tax that UK limited companies pay on their profits. This includes: It’s a mandatory business tax for all registered companies, and accurate computation ensures compliance with HMRC rules. 2. Corporation Tax…
1. Who Can Claim VAT Back in the UK? To claim VAT back, you must: If you’re not VAT-registered, you cannot reclaim VAT. 2. What VAT Can You Claim Back? You can claim VAT on: You cannot reclaim VAT on:…
1. Validate Your Business Idea Before investing time and money, make sure your idea is viable. Ask: Talk to potential customers and gather feedback to refine your concept. 2. Write a Business Plan Your business plan is your roadmap. Include:…
1. Personal SavingsUsing your own savings is the most straightforward way to finance your business. It offers full ownership without debt or outside influence, though it comes with personal financial risk. 2. Start Up Loans (British Business Bank)The UK Government-backed…
1. What Is a Business Plan Template?A business plan template is a structured document that helps entrepreneurs outline their goals, strategies, target market, and financial projections. It serves as a roadmap for launching, managing, and growing a business. 2. Why…
1. Why Start a Low-Cost Business? Starting a business with little money reduces financial risk, increases flexibility, and encourages creative problem-solving. It’s ideal for beginners, side hustlers, or anyone with limited funds but a strong work ethic. 2. Characteristics of…
1. What Are Start Up Grants? Start up grants are non-repayable funds provided by government bodies, local authorities, or private organizations to help new businesses launch and grow. Unlike loans, grants do not require repayment, making them an ideal option…
1. Women in Innovation Awards (Innovate UK)This prestigious grant awards up to £75,000 in funding to female entrepreneurs driving bold new ideas in technology, science, and engineering. Winners also receive mentoring and media exposure. 2. The Prince’s Trust Women in…
1. What Is a Purchase Order (PO)? A purchase order (PO) is a formal document issued by a buyer to a seller that outlines the details of a purchase. It confirms the order, specifies items, quantities, prices, and delivery expectations.…
