Call our team +44 (0) 207 566 3939

Blog

3 key stages of starting a new business

3 key stages of starting a new business

by | Aug 28, 2014 | Blog, Business News, Product Information, Tips & Advice, Uncategorized, Virtual Office | 0 comments

3 Initial Stages of a New Company

Business Purpose

One of the initial steps to creating a new business is the ‘business purpose`. The owner should write a bit about the dream they have, for example maybe they want to start a business selling clothing for children from newborn to eight, etc. They should further describe here all they want for their business.

Type of Business

The second point to develop is the type of business, where there is added more detailed information about the business, including:

The name you want to use
The products or services that you offer
The experience and knowledge you have regarding this type of business
The trends of the industry in general
Opportunities and threats for these businesses

Some of these issues can be answered for yourself and others should be investigated, perhaps through the Internet, library or media, chambers of commerce, associations and publications, preferably related to your type of business or industry. Once investigated and analysed, these points should give a good idea of the overall situation of your business within the economic, social and political environment.

Initial Idea

Every business plan is built around an idea that arises from the detection of a business opportunity. The emergence of the idea to start a business varies depending on the circumstances of each person / people. There are many factors that can lead a person to favour a particular business. In general, the factors that determine the choice of the idea are:

Repeating others’ experiences – this reflects new businesses, which frequently occurs in times of economic expansion.
New business opportunities in freshly supplied markets, creating new or high growth rate.
Technical knowledge about markets, sectors or businesses.
An entrepreneur who has been employee or officer of another business that seeks independence.
When an innovative product becomes known that is estimated to generate a successful market.
When it comes to business or activities of low complexity that allow any person to become self-employed in such an activity.

How can Your Virtual Office London help?

Your Virtual Office London are leading experts in company formation and virtual office services. Small businesses and new start ups can greatly benefit from a virtual office service, our service enables a start up to appear more established through use of a prestigious mail forwarding address, a telephone answering service and a registered office address. Using these services can really help maximise your new business potential for succeeding, it is a well known fact that many businesses fail in the first year. Our service is designed to give your business the best possible chance of survival.

Your Virtual Office London can also assist in forming a company, if you have started a business you may have become a sole trader however there may be tax advantages of becoming a Limited Company. If you would like to discuss this or any other points raised in the informative article please do get in touch with our expert team. We are always happy to help no matter how small or complex the question.

Blog Categories

Contact Details

Tel: 0207 566 3939

Fax: 0207 566 39352

Sales: office@capital-office.co.uk

Support: support@capital-office.co.uk

Our Location

Capital Office
Kemp House
152-160 City Road
London, EC1V 2NX

Opening Hours

Monday - Friday: 9.00AM – 5.00PM
Saturday: Closed
Sunday: Closed

All You Need to Know About Limited Company Shares

All You Need to Know About Limited Company Shares If you’re set to launch a company limited by shares, it’s important for you to understand all there is to know about these limited company shares and what they mean for your business. Before you begin working via your...

Appointing and Removing Company Directors 101

Appointing and Removing Company Directors 101 There may be a number of reasons you’ll want to remove your existing company director and/or appoint a new individual to the role. Whether you’re planning a major reshuffle at the top for the sake of changing course of...

Where Do I Send My Stock Transfer Form?

Where Do I Send My Stock Transfer Form? Congratulations! You’re either a newly formed business, or you’ve been running your brand from a reputable business address for some time. But with the plaudits comes the pressure; not least the overwhelming number of...

7 Important Roles of a Company Director

7 Important Roles of a Company Director You may be the proud owner of a new business, functioning from a credible business address, and envisioning a bright future ahead. But if you’re unsure about exactly what a company director’s role entails, then you may find...

How to Transfer Company Shares

How to Transfer Company Shares If you’re the proud owner of a business, functioning from a reputable business address, you may soon find yourself making important decisions with shareholders regarding the transfer of company shares.  Shares Defined Before we...

Memorandum and Articles of Association 101

Once you’ve obtained a registered office address, your business will be running in earnest along with the presence of a pile-up of paperwork. You can avoid becoming overwhelmed by the inevitable if you familiarise yourself with vital business terms and documents;...

In a hurry and just want some advice?