Just starting out.

[flatline]

Hello, i have joined this forum in the hope that i can get good advice on setting up my business. I would much like to keep what my business is going to be quiet until i get things signed and sealed. (iam sure you understand)

Basicly i know were iam going but just dont know how the get there!

I need to set up a limited company but just dont know were to go to set it up and what kind of price to look out for???

I also need to set up a Business bank account but i dont nkow who to set one up with, and what all the benefits are. Could i please get some suggestions and maybe a reason why you think that bank or your bank is the best thing going??

I will probabaly have alot more questions But these two problems are my first bumps in the road!

Any advice you have to offer me will be appreciated, if you dont want to leave a comment pm me.

Thanks in advance, flatline

[Jayne]

Find yourself a good accountant, they will set up your ltd company and tell you all about how to do it.

Most Banks run a first year free banking for new starter. Lloyds TSB have a web site for this. Business link will also help in the first years with advice, also on the web.

best Wishes

jayne

[mumper]

Hi Flatline, welcome to the forums.

Have a word with Ozzy - he can sort you out with company formation and other members can assist you with banking advice,

Good luck with the business,

[ebonybailey]

From my understanding the Natwest has won Small business Account Managers of the year for quite a few years running, I bank withem them and have no problems, and they should give you at least 12 months free banking too.
Welcome to the forum, you have been lucky enough to find a place were people will genuinely help of they can, and ask for little or nothing in return.
I'm not sure what else you are looking for but why dont you right a list of questions you have an we will respond. I dont know what you mean by this:

I need to set up a limited company but just dont know were to go to set it up and what kind of price to look out for?

Prices for what??


Michael

[Eagle]

*
Any particular reason why it needs to be a Company?

Consider the pros and cons of just starting out as a Sole Trader (minimal admin) - it might leave you free to concentrate on the important things for a new business such as advertising, PR and marketing. ;)

[Rob Holmes]

Hi Flatline and welcome to UKBF - IF you really need to have a limited company (check with an accountant) they can be set up for just a few quid at http://www.quickformations.co.uk - I use HSBC for one business and Bank of Scotland for the other - I recommend (if you are going to be turning over alot of money) that you go and meet with a few banks and see if you personally like them and which ones in your local area are the most helpful - don't forget they are the ones fighting to have your business not the other way round. I walked into a bank with this approach and they offered me a whole host of extras I otherwise wouldn't have.

Rob

[coxadmin]

Hi Flatline and welcome to the forums. There is a wealth of information available from the people on here.

I can't help with a Limited company but with regards to a business bank account, I think you will probably get as many different answers on that one as there are banks.

Personally I chose Abbey Business (http://www.anbusiness.com). I chose them because within in certain generous limits there are no charges for life. One of the disadvantages is that the account is more internet and telephone based, but I have always found the staff very helpful.

[Twokids]

Good luck Flatline!

I'd love to know what your business is once you have sorted yourself out - sounds intriguing!

Jim

[Alpha]

Hi Flatline and welcome to the forums.

As others have said the first decision should be what trading form you really need. There is some info with regards to this on my website if you want to have a look. There is also another member on these forums who has written an excellent 'manual' for startups and SME's which it may well be worth you purchasing (see UKBF offers for the essential business guide at only £20 , give or take 5p)

Regarding banks it all depends on what you need out of them.

Most high street banks will offer similar services and it really depends on the individual local branch(Which you must be aware will change often nowadays)

If you need the persoanl contact with a branch then go and see several in your local area and see if you can find someone that you are comfortable with.

If you do not need the personal contact you may consider one of the other options such as the halifax(RBOS) or Alliance and Leicester. The latter offers permanent free banking and allows you to bank cheques at post offices.

And as has been stated by several people if the limited company route is the correct one for you then the quickformations website is very easyt to use and very competitively priced.

If you require any further in depth info regarding your particular circumstances then e mail or PM me.

[jools]

Hi Flatline,

Welcome to the forums.

Good luck with the business.

Regards
Julia Fecitt
_______________________________
www.secretarialservices4u.co.uk
Business Support for the 21st Century

[flatline]

Thankyou all for your help, you have all been very helpful!

Iam going to set up a limited company with quickformations and iam setting up an account with HSBC.

I have another question for the moment, I need to have a risk assesment carried out on the land that iam using, can i do this myself or do i have to have someone carry it out for me? Can any one point me in the direction for getting this done?

Thanks again for all you kind help. gilan kelly

[Pete Williams]

When I was teaching I had to carry out risk assessment of outdoor space all the time. I will see if I can dig out the proforma. (can't promise left profession 18 months ago!)

Good luck with your venture.

[flatline]

That would be a great help, can you PM me with it if you find anything. thanks