Whether you’re making headway into plumbing, cooking or writing novellas, the prospect of starting your own business is incredibly exciting. Setting out on your own is admirable, and the last thing you want is to run into unnecessary issues hampering your success. To launch your company with the very best start, you’ll have to jump headfirst into administration: finding the perfect place to set up, arranging your coworking spaces, filing for paperwork and signing up for taxes. If you’re looking for some help along the way, here’s a handy guide to starting a business in Sunbury.
Is Sunbury a Good Place to Start a Small Businesses?
A popular commuter town, with several trains running the short trip from Sunbury to London Waterloo, it’s an ideal place to live if you’re looking to open up your potential client pool to a wide range of suburbs and boroughs across London.
If you’re a professional with a van full of necessities, you’ll be happy to know that about half of Sunbury is outside of the ULEZ (the Ultra Low Emission Zone), crossing the boundary at Upper Sunbury Road.
If you plan to trade over the boundary – or if you’re trading in Sunbury at all – you should, however, make sure that your van is compliant with London’s LEZ threshold to avoid getting charged for your work.
How to Start a Business in Sunbury
When you find your niche, it can feel like a breath of fresh air: your future business is waiting for you, and you can look forward to the ups and downs (hopefully more of the former) the comes with achieving your dream job.
Luckily, it’s relatively easy to start a business in Sunbury. All you need to do is:
Decide on your Business Type
Businesses are shapeshifters that come in many forms. Your company could see many iterations throughout its life, and you don’t have to have your whole future planned out immediately. That said, you do need to decide what kind of business you’re setting up today.
There are three main types of business: sole traders, limited companies and partnerships.
The simplest version is a sole trader, where you operate as your own business and work for yourself.
A partnership refers to a company set up by two or more people.
And a limited company classifies you (the founder) as an employee.
Each type has its pros and cons, and it’s important to do some in-depth research before you make your decision.
Choose a Business Name
Your business name will be at the centre of your marketing and branding. Make sure it’s a good one!
Take your time brainstorming, and involve your friends, family and business partners in the process as much as possible.
Always check your prospective names to make sure that another active business isn’t using the same one – you don’t want to open that can of worms!
Register a Business Address
Any small business needs a base of operations. Whether you’re using storage units for your company products or knitting handmade outfits at home, your ‘base’ will typically refer to the location where you do the most work.
It’s up to you whether you want to register your home address or hire a secondary address to use. Most people opt to use a secondary address for the sake of their own privacy as your company address will be listed on websites such as Companies House and other business registries.
Register your Company
Limited companies and partnerships need to register under Companies House, a government directory of businesses across the UK.
It’ll take some digging through web pages, but the government has handy guides for almost every step of the process. Make sure to check and double check your details before you submit any forms!
Apply for your Licences
Every type of business has a different requirement for licensing and insurance.
It’s safe to assume that if you handle anything that could be hazardous – animals, food, vehicles or heavy equipment – you’ll probably need one or the other, or (most likely) both.
Read up on the UK regulations surrounding your field and make sure that you have licenses and insurance before you start to trade.
Start Bookkeeping
Money management is nobody’s favourite task, but it’s extremely important when you’re setting up your business.
Your bookkeeping needs to be referenced for tax, as well as studied every time you do your budgeting, hire an employee or adjust your expenses.
There are plenty of concise spreadsheet setups pre-made for you online, or a business manager can help you to build your own.
Brace for Tax
Tax season is coming, whether you like it or not.
You need to set aside any money you’ll need to pay, especially during your first year of operation! Try to predict your tax bracket in advance and reserve a cushion of funds exclusively for tax. An accountant can come in handy here, too.
You Could Also Consider Buying a Sunbury Business that’s Up for Sale
If you’re not trying to build your own company from scratch, buying one is always an option. If a business is for sale, it may be listed on sites such as RightBiz and BusinessesForSale.
It’s ill advised to rush into a big purchase, however; hiring a business broker, speaking to a financial advisor and seeking advice from third parties are all important to ensure that you’re making a good investment. You should also look into why the company is selling!
Relocating your Business to Sunbury
Whether you’re looking for a new client pool, trying to access some handy local services or simply moving to London, relocating a business can be incredibly stressful. Trying to find a place to store heavy kitchen equipment, keep your paperwork safe or just work in the interim can be difficult and time consuming to do. It can also be incredibly rewarding, however: opening your client pool to Greater London and accessing services exclusive to the big city can help any business grow into success.
It’s good practice to look for help when you’re carrying out a big project, especially if you have a lot of business necessities to move. A man and van service can help to cart heavy equipment to your new base of operations, while local professionals can give Sunbury-centric advice on location, advertising and demographics. Don’t try to do everything on your own!
There’s also a Great Coworking Space Selection in Sunbury
If you’re not a brick-and-mortar shop or a contractor driving door-to-door, you’ll need a place to set up and work. This could be your home, a local library or a coworking space in your area.
If you can’t work from home, and a local library isn’t an option, there are a few options for coworking spaces around Sunbury for you to choose from.
Office Pods
If you want the quiet, focused environment of a coworking space but you’re not a fan of people looking over your shoulder while you work, you could work in a private office pod at our Attic Self Storage Sunbury location.
These pods are designed to give you a private, quiet place to work with access to facilities such as your business storage storage unit, free wifi, a printer and even a coffee machine.
Incubators
It sounds terrifying, but an incubator is really just a name for a space designed around coming up with new ideas. That includes quiet spaces, desks, computers, kitchens and generally comfortable surroundings, which you can find at Sunbury’s CoTribe location near the train station.
Managing Your Storage Needs at your New Business
Once you’ve moved your business to (or set it up in) Sunbury, it’s time to put your head down and get to work. For some people, that might look like flyers and advertising spots; for others, it could be workdays in your office pod with a laptop and a coffee.
Day-to-day activities, however, can easily be hampered by space limitations; if you have a lot of heavy items like kitchen equipment or machinery, it may be worth considering investing in storage to keep your business running smoothly.
Keeping your Paperwork Organised
Keeping your files at home only works as a small, single-person business (and even then, it’s hit and miss).
The best way to make sure that your paperwork is organised, accessible and safe from your day-to-day activities is to archive it in storage. That way, it benefits from 24/7 CCTV, too!
Storing Heavy Items Out of the Way
Heavy items such as kitchen units, sewing machines, spinning wheels and pieces of houses can’t sit in your living room until you’re ready to use them.
Hiring a storage space for bulky items allows you to fetch and use your equipment whenever you need it and keep it out of the way when you don’t.
A Workspace with Storage
If you’re coworking away from home, you don’t want to cart everything you need with you every day. At our Sunbury location, you can access our office pods and your stored items in the same building, letting you fetch your items when it’s time to use them.
Support for New Businesses in Sunbury
Sunbury has plenty of businesses, companies, charities and programs ready to help you with setting up, moving or buying your business. Here are a few of your options if you find yourself in need of a hand in your day-to-day activities.
Business Management
A business manager can help you to organise your company, especially the administrative side of running it. They’ll give you advice about advertising, social media and employees, and make sure that you’re on track to grow as a business.
Accountants
An accountant can help you with bookkeeping, taxes and financial advice, depending on their field.
Talk to a potential accountant before hiring them to make sure that your expectations of the partnership are the same!
Waste Management Companies
As a company, you can’t dispose of your trade waste alongside household waste. You’ll need to shell out for your own waste management solutions, which means choosing a company to partner up with. There are plenty of these operating in London, including eco-friendly companies that could decrease your own carbon footprint.
Couriers
If you do a lot of shipping, you should shop around to find the best prices for couriers in Sunbury. Make sure to do plenty of research to make sure that they’re reliable and will handle your packages with care.
Citizens Advice
Citizens Advice is a charity designed to help you with legal advice and concerns.
You can’t use their services to help you run your business, but if you’re stuck with questions, you just can’t find the answers to, it’s well worth talking to them before trying to handle it alone.
Looking for a Business Storage Solution in Sunbury?
At Attic Self Storage, we can help your new business to thrive with our office pods and easy-access storage units. If you’re finding yourself short of storage, get in touch to hire some additional space today.