Getting Your Business Started
November 19th, 2010How many times have you thought about setting-up your own enterprise, whether it is to develop a good idea, a new product or to take advantage of a niche service?
We believe that there are three factors that hold back entrepreneurs from getting their business off the ground:
- lack of focus
- lack of confidence
- lack of support.
Lack of focus:
Successful entrepreneurs seem to take the bull by the horns and just go for it. They know what they are trying to achieve and they have a plan of action. They have taken time to think about their strategy, market and business plan. They don’t prevaricate and they have spent time researching their market and the competition.
What successful entrepreneurs have in common is the determination to succeed.
Lack of confidence:
There are many talented people out there, and many innovative ideas. What makes an entrepreneur succeed with their idea is that no matter how scared they are of failure, or of looking foolish, they carry on regardless in the pursuit of their dream. If you imagine the participants in Dragon’s Den on TV, they are certain that their product or service will succeed and this confidence is required because it will help you to overcome the hurdles you will face along the way. Confidence is an essential business tool.
Lack of support:
Once you have decided on your business plan, you’ll need people alongside to help to give you important expertise at strategic times. This could be for emotional encouragement, someone to listen to the problems, financial know-how, general business advice as well as independent observation for sensible review and even critical evaluation.
Starting a company can be a lonely activity. You need to believe in your company and its products and yet be realistic that your best laid plans might not work.
To help your business get off the ground, you will need advice from a bank or lender about finance and a business bank account, an accountant or bookkeeper about the accounts and tax implications, and a lawyer, to ensure your business is legal and protected.
If you want to ensure your business has the best start in life, remember:
Focus, Confidence and Support.
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At www.LawSense.co.uk you will find several start-up legal documents that you can create yourself, using Solicitors Regulation Authority-approved templates that have been created by law firm Brethertons LLP. The basic legal documents that you are likely to need for your start-up include:
| Document | Description | Cost |
| Shareholders’ agreement | - this sets out who the main directors of the company are. The standard is to have at least two directors, otherwise you are a ‘sole-trader’ which means you are 100% liable for the debts of the company. | £325 |
| Non-exec director appointment letter | It is good practice to appoint a non-executive director who doesn’t have a huge interest in the daily operations, but who can provide an external perspective when it comes to the overall performance of the business. For listed companies this is a pre-requisite. | £75.00 |
| Privacy Policy for a website | A website privacy policy ensures that your website meets current legislative requirements. The purpose is to stipulate the types of personal data that your website stores and how this information is used and protected. | £95.00 |
| Terms and Conditions – pack | There are several documents that form Terms and Conditions – it could be a contract for each sale you make, setting out payment terms, or it could be for the return of goods.
A Terms and Conditions pack is a starter pack of 3 documents covering the selling of goods/services, returns and website selling. |
£325.00 |
www.LawSense.co.uk is a new website that is a revolutionary way for you to purchase quality legal documents and legal advice over the internet, with ease-of-use, cost-certainty and value for money.
You can go online and see a lot of free legal advice about how to choose the most appropriate business structure for your start-up and the advantages and disadvantages of being a sole trader, and how to protect your business ideas from fraud. Many of the legal documents you will need are also listed, at very affordable prices.


