Rather than carrying out a company formation to start a new limited company, people often buy into an established franchise to get started in business. But what are the advantages and disadvantages of a franchise? Advantages of a Franchise As a business structure, a franchise can certainly be an appealing option. With a number of …
Running a Business
76% of UK Businesses Don’t Employ Anyone
The latest figures from the Office for National Statistics (ONS) show that the trend towards self-employments, contracting and freelance work is continuing. The latest figures for 2015 show that there are 5.4 million businesses in the UK. 1.3 million of them employ more than one person but the remaining 4.1 million businesses don’t employ anyone …
Tax Boost for Hobby Businesses and Micro Entrepreneurs
Over the last couple of years the HMRC have been trying to clamp down on people running small online businesses in their spare time. They have launched a number of initiatives to make people trading online register as businesses even if they are only trading on a small scale. HMRC have also been asking for …
Bootstrapping Preferred Funding Model for Startups
In our report on Startup Funding we found that bootstrapping was the preferred funding model among the early stage startups. We spoke to a range of early stage startups who had all registered a company or sale trader business within the last 18 months. 56% of these startups were using their own money to entirely fund …
Do Real-World Startups Use Alt Finance?
As part of our 2016 Startup Funding Report, we asked a cross-section of early-stage entrepreneurs about their awareness and use of alt finance sources. We found that although 43% of the entrepreneurs we spoke to were aware of crowdfunding only 1.3% used it to fund their business. Other alt finance methods such as peer to …
What is the Average Startup Budget?
The Company Warehouse’s research on Startup Funding found that the average budget for new UK startup businesses is £5,000. Our research focussed on early stage startups who had completed a limited company formation or sole trader business registration within the last 18 month. We found that the majority of entrepreneurs we spoke to had relatively …
Are Startups Using Startup Loans?
The Company Warehouse’s 2016 Startup Funding Report found that while 85% of startups we spoke to had heard of the government’s Startup Loans scheme only 5% were using it. The Company Warehouse speak to thousands of new startup businesses each year, we know that having adequate funding is often vital to the survival of new …
How to Make Sure Your Startup Succeeds
Thinking of starting a new business? You’re not alone. The number of new companies registered in the UK reached a record high this year, with 53,000 in May and 38,000 dissolved, pushing company formation numbers up to 3,721,493, the highest ever recorded. Although this spike in company formation numbers is encouraging, the sobering fact remains that only …
How to Network Effectively
It’s no secret that strong networking skills are an essential component of any entrepreneurs’ skill set. The ability to network effectively can make the difference between leaving an event having laid the foundation for future relationships, or with nothing. With a limited amount of time and a room full of potential contacts, it’s important to …