The Guide to Protecting Your Life Bubble

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3 Important Things to Consider When Starting a New Business

Setting up a business

Starting a new business is both exciting and challenging for both the first time and the tenth time. While not seemingly complex at first, there are a range of things that quickly become important to consider and think about when getting into the actual process of getting the business up and running.

From funding to registration, and everything in between, you have to make sure you have everything important in mind to ensure that your new venture runs as smoothly as possible. It doesn’t matter whether you’re a sole trader starting a joinery service or an experienced team of businessmen and women starting up a new multinational corporation; most of these aspects are still as important as each other.

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2 Important UK Taxes for Sole Traders to Consider

sole traders tax

If you’re the owner or manager of a small and perhaps local business, there are a plethora of aspects to consider when trying to maximise net profits and reduce expenditure. When your small business begins to grow more complex, the financial side of things can get overwhelming, that’s why help in the form of essential tax services can become a real lifeline.

While the majority of small businesses can benefit from the services that an established tax expert, accountant, or lawyer can provide, it’s important that you find the right tax company for the job. While some of the largest tax firms in the world lead the way in terms of managing finances and tax issues, these firms are not suitable for a small business. Your best bet as a small business is to always choose an accountant or tax expert who is focused on local law and issues, like this one based in Glasgow:

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5 Things Every Tradesman Needs to Start their Own Business

Here, at The Bubblebook, we are determined to help as many people as possible save time and money on issues and problems which can set you back. Today we are going to be discussing how you can save money not for the household, but in business. Particularly in trade.

In the UK alone, there is hundreds of thousands working in the trade industry, with a good percentage of these workers being their own boss/providing their own services. So no matter if you are a carpenter, carpet layer, plasterer, plumber, electrician, landscaper or welder, here is some useful tips to help you save money and time when operating your small business.

  1. 24/7 transport available1

Perhaps one of the worst things that can happen to a tradesman no matter of the industry is the loss of their vehicle. No matter if you are a plumber, joiner, electrician or any other profession- you’re average working day will include driving to various locations where you’ll be constructing/repairing or being quoting your services. Without transport accessibility would become a problem, as it isn’t just yourself and your employees and colleagues you need to work about getting to a destination, it’s also your tools and possibly machinery. Your transport is also a great opportunity to help brand up your business and give your services a customised personality.


  1. The appropriate tools for your Industry


Having an inventory of all the tools which you would possibly need for all the services you offer is a must. Never buy as you go if you are serious about the appearance of your company in the eyes of potential customers. If you have to go out and buy tools before a job, it’ll make your business appear unprepared and unprofessional. This “buy when you need” attitude could also be responsible for losing your company sales – what do you do if B&Q have a shortage of the equipment you require? Even though there is websites which stock thousands of tools online you’ll never want to leave it to the last minute. If money is tight, go to your tool and equipment suppliers and prioritise your spending on the tools that you think you’ll be most likely to need, I use Airlines Pneumatics – which I have built a working relationship with over the last 3 years.


  1. Contactibility on all main platforms and devices3

It’s greatly important to be as easily contactable to as many people as possible. In most cases, if you don’t answer your phone when a potential customer is seeking a quotation from your business, they’ll immediately move on to phoning one of your competitors. Mobiles are a must have for tradesmen, due to them being constantly on the go whether it’s in the van or at a job. In 2017 it’s essential to be available on social media platforms, whether it’s impressing visitors with photos of previous jobs, posting special offers on services or just adding that much needed personality to your business and brand.


  1. Network with people who can offer you something4Get to know people with experience in the industry. Receiving guidance from experienced individuals will not only save you time, but also money. The more working relationships that you have with other companies, the more you’ll be likely to trade favours and knowledge.Whether you are networking with members of your local community, people active within your industry or other companies in other industries you’ll gain benefits from all. For example, Plumber Parts provide online guidance on all things plumbing related. For plumbers this is a great way to get tips which will help you with your business. There are plenty of other forums and websites like Plumber Parts which supply tips and advice for tradesmen starting out in the business.Whats an example of the sort of networking which every tradesman should be trying to accomplish? Lets say you run a wood manufacturing company, and are looking to gain the attention of companies who buy natural resources regularly, you should be trying to get to know individuals who run companies such as Aberdeen shopfitting company Allstar Joinery. If you are willing to strike a deal which will sell you products, yet save the other company money, this could be a sound deal for all.

  1. Find someone to do your tax and accounts


If you aren’t already experienced in dealing with the accounting and tax for a small company yet, you’ll realise that it’s a much bigger job than you’d expect. Dealing with the relevant paperwork to allow your business to run legally and successfully isn’t something you should be trying to do yourself if you are already busy with the day to day runnings of the business. Companies such as TaxKings are available to take care of all that business for you. We’d highly recommend using companies such as these so that you can focus on what you know best.

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Students need insurance


If there was ever one time in your life to make sure you have some sort of insurance, it’s when you’re a student. Students, unsurprisingly, make mistakes. It could be something as simple as a broken phone screen bringing an abrupt end to your social life. It could be a flat tyre that leads to a whole weekend of plans scuppered. There are a lot of areas where students are best to have a safety net in place.

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