In the UK: Everything you need to know
If you’re in a trade or Business thinking about starting out,
🔧 1. Choose Your Business Structure
Most tradespeople start as a sole trader because it’s simple:
- Sole Trader – easiest setup, full control, personally responsible for debts
- Limited Company – more professional image, separate legal entity, more admin
- Partnership – if starting with someone else
📝 2. Register Your Business
- Sole traders register with HM Revenue & Customs (HMRC) for Self Assessment
- Limited companies register with Companies House
💰 3. Sort Your Finances
- Open a business bank account
- Track income and expenses from day one
- Understand key taxes:
- Income Tax
- National Insurance
- VAT (if turnover exceeds £90,000)
📊 4. Price Your Work Properly
Don’t just copy competitors—factor in:
- Materials
- Labour/time
- Travel
- Overheads (tools, insurance, fuel)
- Profit margin
🛡️ 5. Get the Right Insurance
Essential for trades:
- Public Liability Insurance
- Tool Insurance
- Employers’ Liability (if hiring staff)
📍 6. Find Work (This is Key)
You need a steady flow of jobs:
- Join directories like Local Trades & businesses
- Use platforms like Bark or Rated People
- Set up a Google Business Profile
- Get reviews early—this builds trust fast
📣 7. Basic Marketing Setup
- Simple website or landing page
- Branded van, clothing, and business cards
- directory’s (great for local trades 👀)
- Social media (Facebook works very well locally)
⚖️ 8. Stay Legal & Compliant
Depending on your trade:
📈 9. Keep It Organised
- Send proper invoices
- Keep receipts
- Use simple accounting tools (or an accountant)
🚀 10. Start Small, Grow Smart
- Focus on one area first
- Build reputation → reviews → referrals
- Then expand into nearby areas