1. Do Sole Traders Need a Business Bank Account? Legally, sole traders in the UK are not required to open a business bank account. However, it’s highly recommended to keep your business and personal finances separate for clarity, tax compliance,…
1. Why Business Funding Matters Whether you’re launching a startup or scaling a small business, choosing the right business funding options is essential. It affects your cash flow, growth speed, ownership, and risk. 2. Self-Funding (Bootstrapping) Using personal savings, income,…
1. What Is Corporation Tax? Corporation tax is the tax UK limited companies pay on their taxable profits. This includes profits from trading, investments, and chargeable gains (like selling assets). Sole traders and partnerships do not pay corporation tax—only registered…
1. What Is a Sole Trader Start Up Grant? A sole trader start up grant is a non-repayable fund offered by the government, local councils, or support organisations to help individuals launch a new business. It’s designed specifically for sole…
1. What Is a Private Limited Company (Ltd)? A private limited company (Ltd) is a UK business structure where the company is legally separate from its owners (shareholders). Shares are not offered to the public, and shareholders’ liability is limited…
1. What Is a Business Plan for a Startup?A business plan startup is a document outlining your business idea, goals, market analysis, operations, financial projections, and funding needs. It serves as a roadmap for your business and a tool to…
1. What Is a Small Business Grant in the UK? A small business grant UK is a sum of money offered by government bodies, local councils, or private organisations to help businesses launch, grow, or innovate. Unlike loans, grants do…
1. Why Your Company Name Matters Your company name is the first impression your business makes. A great name is: 2. Types of Effective Company Names 3. Best Company Names by Industry (Examples) Tech & Digital Food & Drink Retail…
1. What Are Company Start Up Grants?Company start up grants are non-repayable funding provided by government bodies, local authorities, charities, or private organisations to support the launch of new business ventures. Unlike loans, these grants do not need to be…
1. What Are Business Start Up Costs? Business start up costs are the expenses you incur when launching a new company. These include legal fees, equipment, branding, marketing, premises, and more. Understanding and budgeting for them is essential for a…
