Perhaps you are considering setting up a business in the UK, you have to consider the administration or item that you need to offer, the potential customers you are offering to, and what makes your business emerge from the swarm.
Coming out of the crowd at times is difficult and money consuming, one must try as much as possible to create the atmosphere for the business to thrive, (even in the middle of a powerful storm) and shine just like the best rated top 100 over there.
The following are important points to consider before venturing into consultancy firm in the UK.
1. How will you fund the business?
This is the #1 issue in creating any business. Apart from having the idea of the kind of business that sells, one must be very sure of the fund set aside for the business. In the UK today, an average office space may cost you a fortune to rent, let alone other office equipment that must go into the office no matter how small. So, prepare yourself very well, do a proper feasibility study, then you can start. The cost of running the day to day activities in the company matters. The cost of ink, Papers, Pen, Logistics, staff expenses etc. can cost you much as well and the business needs to move on.
2. Have you got a business proposal?
Consultancy in the UK or anywhere in the world requires you to have a concrete and solid foundation business plan/proposal. This is the overall feasibility study that makes up the business ideas. Your business plan must include the following:
- Executive summary
- Business Description
- Market Strategies
- Competitive Analysis
- Design and develop plan
- Operations and Management plan
- These are probably the basic steps you need in creating your own business proposal/plan.
3. Do you have the required Expertise and Experience?
Here it is equally expedient to acquire the best of Knowledge before playing any role. Most people in the UK enjoy experts and experienced gurus who have spent years in the same field. One must be very sure of him/her self before embarking on a consultancy business journey, especially in the UK.
4. What is your unique selling point (USP)?
The greatest of all is the value you want to add to the lives of the public whom a set of them might be your target audience. Your unique starting point is very important in your business, it means, the factor or consideration presented by a seller as the reason that one product or service is different from, and better than that of the competitor. Before you can start to sell your item or service to any other individual, you need to sell yourself on it. This is a key issue in Business and marketing.
5. Do you have a business structure?
The organizational operating plan describes how you will structure your firm and how you will actually carry out everything you present elsewhere in your business plan. Without an execution strategy, the rest of your plan is meaningless. So, this is a way of showing people what you have got in your new consultancy outfit.
6. Have you notified relevant authorities?
The authorities will help you register you business with state and federal authorities, link you up with other agencies dealing with business duties, taxes and VATs. This is to make sure you don’t run into trouble doing the business you are venturing into. Failure to adhere may eventually lead to the fall of the business.
7. Do you know your health safely and environmental responsibilities?
Unlike developing countries, the UK’s government has a system that makes all intended business owners to abide by all existing laws and environmental responsibility factors in any business. So, it is important for any person who is creating a business in the UK to do a fair and non-environmental pollution business therein, or else, that coy is fully ready to face serious consequences thereafter. The health and safety of the people matters to the government, so you must get the right to operate your business and get approval before starting it.
8. Have you sourced a suitable premises?
In the UK, there are so many places that suit each and every business, take for instance real estate business in the UK, the business needs a strategic location, which should be probably residential or office focused areas. This will aid the easy going of the business. Thus, making sure you have a better target audience in that location or possibly outside that location.
9. Do you know your obligations to your staff?
This is the major problems that run some business down in the UK. The government have a structure for labour and its relations with the employer. This guideline must be obtained and followed to the core in other to experience a peaceful atmosphere, especially if one is coming in to the UK for the first time to establish a business or live therein. In other to save yourself from all troubles that might occur, it is better to get a standby Lawyer who knows the UK system and can help you do all your registrations and licenses as required by the law.
1o. Do you have business cards and promotional materials?
Every business needs promotional material and business cards. You must design your business cards in such a way that your target audience could find you.