Formalities

Meeting all applicable legislation and regulations

Examples include:

• Public houses and off-licences
• Driving instructors
• Employment agencies
• Taxi drivers
• Providing credit services.

You should check with a solicitor to make sure that you are not breaking any regulations, that you are operating in line with best practices and that you are up-to-date on the latest requirements.

Now move on to consider the other aspects of formalities:

• Choosing and registering a legal structure for your business
• Choosing and registering a name for your business
• Registering for taxation
• Setting up accounting systems
• Ensuring that your business meets all applicable legislation and regulations
• Ensuring that your business meets all appropriate quality standards
• Opening a bank account
• Arranging for appropriate insurance
• Protecting your business' intellectual property.