Part 2
Marketing: go on, be a show-off It’s now time to use your research to help you decide
Door drops
on the best way to promote your business to your
Make a promotional leaflet and post it through
customers. You’ll need to invest in some kind of
doors yourself.
advertising and marketing to really get your business off the ground, even if at first it’s just telling friends and family to spread the word. After all, you know your idea is great.
Business directories A Yellow Pages and Thomson Local listing can be really effective for a local business. Visit www.yell.com and www.thomsonlocal.com
The steps to take
Cold calling
1. Set yourself a budget.
Use your enthusiasm and belief that your product or service is the best in the market to make a sale.
2. Decide what you want to achieve; for example, how many customers do you want to attract?
Direct mail Research this method first to get your communication
3. Choose the marketing methods that match your budget so you can afford to carry them out regularly
right. It can have low response but cost-effective results, especially if you make a follow-up phone call.
for the first year. Use our list below for ideas. Local newspapers 4. Regularly review your marketing results and whether you achieved what you wanted to. If you didn’t, look at why and try a different method.
Promote your business with ads and/or editorial coverage, as people can be really supportive of their local businesses.
How to get your business out there
Trade magazines
Word of mouth
Ads in these can be ideal for a small, well-defined
Encourage existing customers to recommend your
business audience, but can also be expensive.
business to their friends and family.
Local radio
Free ad papers
Immediate results if supported by a strong message
Contact your local free ad publications for advertising
that gets customers to act but, again, can be expensive.
opportunities.
Trade fairs/exhibitions
Leaflets/brochures/business cards
You’ll reach a large audience in one go, but the cost and
Must-have information pieces for your business.
time involved can be high.
Notices
Website
Create promotional cards to stick in shop windows, on
These days, most people use the Internet to find
notice boards, etc.
products or services. It can be easier and cheaper to update a website than printed promotional items. You can also advertise on other sites to encourage people to click through to yours.
38
Getting started
“
Real-life story Bradley Walters went into sales and marketing at the age
Did you know
of 19. Last year, at the age of 37, he sold his stake in a
You get a free 45-minute marketing consultation
computer company and started his own business, In
through our Team of Experts when you open a
House Marketing and PR.
new business account with Barclays. It’s run in association with the National Federation of
“I’ve got 18 years of marketing experience and I wanted to
Enterprise Agencies (NFEA) and covers a wide
“
put something back into other companies,” Bradley says.
range of marketing issues. You’ll also get a free
He takes a plain-English approach to an area usually full
guide to help you work out your marketing plan.
of jargon: “The people I deal with speak plain English, and
For more information, just talk to one of our Local
so do I,” he says.
Business Managers or get in touch with the NFEA.
He also emphasises the importance of networking: “It’s
the single most important factor in a company’s growth – good word of mouth.” Now Bradley is working with his
Barclays Local Business Manager, Nicola Burley, to grow his business. “I’m a great believer in the maxim that the more you give, the more you gain.”
Bradley Walters, Barclays business customer, Nottingham.
39
Part 2
Customers: how to keep them coming back Great customer service is the key to long-term customer relationships. Treat them well and they’ll stay loyal to you and your product or service, which in turn will enable your business to thrive.
How to deal with a complaint • Receive, acknowledge and log the complaint – tell your customer this has been done. • If you can’t resolve the issue straight away, explain that you’ll look into it and will update them at a particular time.
Happy customers Satisfied customers will keep coming back. They might
• Investigate – identify what caused the error and fix it so it doesn’t happen again.
also tell you what they like about your product or services and what your competitors are doing, which will save you money on research.
• Report to the customer what you’ve found and how it’s been remedied. Giving them a refund or a gift voucher can be a good move, too. • Follow up at a later date, and check that the
Did you know?
customer was happy with the way the complaint
Talk business is the free Barclays magazine created
was handled.
exclusively for people who own their own business. It’s full of practical ideas, expert tips and inspiring
What rights do my customers have?
real-life stories to help you manage your business
As a well-run business it’s sensible to be aware of your
smarter. You can pick up the latest issue of Talk
customers’ rights. They should also shape the way you
business in a Barclays branch.
offer your product or service.
Unhappy customers An unhappy customer will tell more people about the service they’ve received than a happy customer. But a complaint can always be turned into something positive – it just depends on how you deal with them.
40
Getting started
What you should do
Profitable customers: how to find them
If your business sells goods or services, you’ll need to
Some customers will bring you more business than
meet certain criteria. Goods need to be:
others. They’re the ones you want to find – and keep.
• of a reasonable quality • fit to do what they’re meant to • properly described
Who are your biggest spenders? Pareto’s Principle – which holds true for most businesses – says that you’ll make 80 per cent of your money from 20 per cent of your customers. To attract
• safe. Even if they’re not set out in writing or verbally before
and keep the prized top 20 per cent it’s a good idea to: • understand exactly what they need
the work begins, services need to be:
• find other customers who are similar to them.
• done to a reasonable standard
Start by gathering information about your most
• finished within a reasonable time
profitable customers, then give them more of what they want. Design your marketing and approach to sales to
• at a reasonable cost.
push their buttons. Chances are your other customers will respond well to this approach, too.
Mail order and the Internet If you’re selling by mail order or over
Ask the right questions
the Internet, you need to comply with Consumer
Inviting a few of your customers to tell you about their
Protection (Distance Selling) Regulations 2000, which
likes and dislikes is a great way to understand their
gives customers the right to return items within an
needs. Plus, they’ll probably be flattered that you’re
agreed time period. For details on how to comply, see
interested in them – especially when you act on what
www.dti.gov.uk/ccp/topics1/ecomm.htm
they’ve told you.
Credit card purchases
Maintain relationships
Customers who use credit cards to pay might be
Once you’ve identified your big spenders and big sellers,
entitled to other safeguards. If you plan to offer credit
look after them. If they’re valuable to you, it’s likely your
agreements to your customers, you’ll need a Consumer
competitors would love to get their hands on them, too.
Credit Licence from the Office of Fair Trading (go to www.oft.gov.uk for more info). Most complaints can be sorted out amicably, but if a customer feels their rights have been breached, they could look for compensation through the courts. Always get advice from a solicitor if this happens.
There’s no business like yours We’re here to make sure that your business stays on the path you want it to. For business advice, just call 0800 515 4621 or visit www.barclays.co.uk/localbusiness to make an appointment with one of our Local Business Managers.
1: For terms and conditions, please turn to page 87.
41
Part 2
Suppliers: setting up great relationships Good suppliers who give you more time to pay your bills can help you manage your cash flow, which will help make your business prosper in the future. It’s also important to find reliable suppliers who are easy to work with and who won’t let you down.
Negotiate the best deal • Don’t accept the first price you’re given. Instead, come back with a lower (but realistic) counter-offer. Then, aim to meet in the middle with some compromises – like free branding on parts of your product or shorter credit terms in their favour. • Don’t be pressured into a decision – take your time. • Understand the seller’s perspective – they’re the ones
Sourcing suppliers
who want the business, so don’t feel like you have to
If you already have suppliers, they might be able to
agree with them if you don’t.
recommend others that could complement your
• Draw up a service level agreement – this lays out
business. Trade magazines, directories and the Internet
exactly what you and your supplier can expect once
are also useful places to look.
a deal’s been done.
To help you decide, put together a shortlist. And don’t just base it on price. Think of other ways they’d suit
Insider knowledge
the way you run your business: what are their service
Ways to nurture a positive relationship with
and payment terms like? Will they be able to cope as
your suppliers:
your business grows? •
Be dependable and pay your bills on time – your supplier might extend your credit terms
• The promise of a big order can make them even more flexible • Communicate – it’s key to a strong relationship. If you can, meet regularly face to face.
There’s no business like yours We’re here to make sure that your business stays on the path you want it to. Call 0800 515 4621 or visit www.barclays.co.uk/localbusiness to make an appointment with one of our Local Business Managers. 1: For terms and conditions, please turn to page 87.
42
Getting started
Finding the right staff: all together now If you know you’ve employed people you can trust,
Insider knowledge
you’ll be able to spend more time on developing your
Using temp agencies can save you time and also help
business and making it grow. Here are some top tips
handle the contract and legal side of things. Remember,
to get the best people for your business:
though, you’ll need to pay commission if they find
Write a full job description
anyone for you.
Include the skills, experience, personal attributes, etc which the role requires.
Draw up an employment contract A comprehensive contract can help prevent
Sell the benefits
disagreements in the future. Most businesses get legal
Pay, responsibility and training, for example.
advice when drawing up employment contracts. It’s a
Find your candidate
good idea to consult a solicitor if you’re unsure what you
Try the grapevine, recruitment agencies and
should include. Once it’s been signed by both parties,
press advertising.
the contract is legally binding. We have tools that can help you to draw up a contract yourself. Speak to a
Shortlist for the interviews
Local Business Manager for more details.
Be strict and choose the best to save you time. Interview thoroughly
Manage your staff fairly
Give candidates a chance to ask questions.
If you clearly set out the rules that both you and your
Dig deeper Check behind every claim and give relevant practical tests to check a candidate’s skills.
employees are expected to follow, it’ll make your business a place people want to work. There will be some employment policies you’ll have to adopt by law, such as leave, working hours and pay.
Hire the right person for the job Look for people who complement your business and
Talk to your staff
bring new skills.
When you write your employment policy, it’s worth
Follow up references Have the CV in front of you and make sure it tallies with what the referee says.
noting that if you talk to your staff and get their opinion on what it should include, they’ll be more likely to accept it.
43
Part 2
Offer training As an employer, it’s a good move to offer employees
Did you know?
adequate training. Training will enable them to advance
Barclays Business Essentials packages and Barclays
their skills, which will benefit your business. The more
Business Manager software include business skills
they know, the more they’re likely to thrive in and get
and training courses to help you get the most out
satisfaction from their job.
of running your business.
There’s no business like yours We’re here to make sure that your business stays on the path you want it to. Call 0800 515 4621 or visit www.barclays.co.uk/localbusiness to make an appointment with one of our Local Business Managers. 1: For terms and conditions, please turn to page 87.
44
Getting started
Networking: it’s all about who you know When you set up a business, you have to create and
Insider knowledge
maintain your own network of people who can give you
When you’re at a networking event:
advice and support. If you’re not a regular social butterfly, this might seem like a distraction from your daily to-do list, but networking can be a great way to find the best suppliers, customers, ideas and information. All it takes is a business card and a little time.
• Prepare your pitch – you should be able to describe what you and your business do in about 20 seconds. Be careful it doesn’t sound rehearsed; just be comfortable in explaining your business. • Work out what you want to get out of the event – are
Real-world networking
you trawling for customers/suppliers or do you just
More and more events take place each year which bring
want to meet like-minded business owners to share
together business owners. They usually start with a talk
experiences with?
from a successful entrepreneur before delegates are encouraged to meet, talk and swap business cards. It might take a while for anything to come of the meetings, but they can really be worth the wait.
• Prepare – find out who’s attending beforehand. You might find there’s a particular person attending who could really help your business. • Take notes – after you’ve talked to someone, write a few details on the back of their business card to remind you who they are and what you talked about. • Don’t get trapped – try to meet as many people as you can. And after the event… • Follow up – it just takes a phone call or email to people you had a shared interest with. • Don’t apply too much pressure – a gentle courtship will pay greater dividends than a whirlwind romance.
45
Part 2
Online networking
Expert guidance from an entrepreneur
Internet mailing lists and industry-specific online
• Networking works best when, instead of trying
discussion boards mean you can network virtually
to make sales, you focus on introductions. New
with businesses all over the world.
clients can come from a lead introduced by a fellow networker
Insider knowledge When you’re networking online: • Be specific – look for mailing lists and discussion
Nationwide networks run by organisations like the British Chambers of Commerce and Ecademy are
forums that are specific to your line of work, as
fast expanding, as are self-run local groups all over
you’ll have a better chance of getting noticed
the country
• Take it easy – if you’re joining a discussion list or
• Set up your own group. The more businesses that
online forum, don’t go for the hard sell. Instead,
become involved, the more people you’ll be able to
let the quality of your advice or information make
call upon in the future.
you appealing • Link back to your own website if you have one – check that the rules of the online forum you’ve joined allow you to • Do it yourself – set up your own discussion forum.
46
• An easy way to start is to join an existing network.
Matt Weston, publisher of Business Bricks.
Admin
Part 2
Tax: prepare for what’s ahead There’s no easy way to say this: if your business makes a profit, you’ll have to budget for tax. But it’s not that hard; you just need to know what you have to pay and when (and – hopefully – whether you’re entitled to any tax breaks).
Business tax basics Income tax • If you’re a sole trader, you’ll have to pay personal rates of income tax on all the profits you make, no matter what you actually take from your business. • If you’re in a partnership, the amount of income tax charged on your profits will depend on what tax
Make life easy for yourself and ask an accountant to help you if you need it. It can be expensive, but it’s
each individual partner pays on their own income. • If you’re a company director, you’re also an employee
worth it in the long run. You can also get advice
of the company. This means you’ll pay income tax on
through your local Enterprise Agency or Business Link,
the salary the company pays you.
or direct from organisations like HMRC and your local National Insurance Contributions Office. Turn to the Useful contacts section for details on how to get in touch with these organisations.
Corporation tax If you’re running a limited company, you’ll need to pay corporation tax on your taxable profits. This is
The taxes you might have to deal with when you’re
a more complex tax, so it’s best to get advice from
running your own business include: direct taxes on your
an accountant.
income and profits (income tax and corporation tax); taxes on assets you own (capital gains tax and
National Insurance Contributions (NICs)
Inheritance Tax); and indirect taxes (customs and excise
This is separate from income tax paid as an employed
duties, VAT and stamp duties). What you pay
or self-employed person and falls into different classes.
will depend on how you’ve set up your business, such
Most people who work have to pay NICs, and there are
as whether you’re a sole trader or a limited liability
strict rules on how it’s applied to particular situations,
company. You’ll find the basics on the most common
such as if you employ staff.
taxes outlined on the next two pages, but for the latest information on tax, visit www.hmrc.gov.uk
48
Getting started
Capital Gains Tax (CGT) You’ll need to pay CGT if you sell an asset (like land,
Did you know?
investments and property) for more than you bought it
As a Barclays business customer you get a free
for. This increase in value is known as a ‘capital gain’. How
consultation with an accountant when you start
much CGT you pay depends on what you earn overall.
up your business. You can use it as a chance to talk about your tax obligations. Just ask a Local
You can offset any capital gain you make against certain
Business Manager for details.
allowable expenses in order to reduce the amount of CGT payable. It’s also worth remembering that you might need to pay CGT when you sell your home if you’ve claimed the cost of running it as a business expense.
Inheritance Tax If the value of your business is a major part of your personal estate, you need to think about Inheritance Tax. That’s the 40 per cent tax your beneficiaries will have to pay on everything in your estate worth more than £275,000 (2005/2006 threshold) after your death. It’s best to plan early – it’ll help you to lessen the
Expert guidance from an accountant To save time and effort at tax time: • Know what payments are due and when • Keep all your records up to date – under the Finance Act 1994 you must keep certain records to back up your tax returns • Use a software package such as Barclays Business
impact, and make sure your money ends up going to
Manager to record your business transactions
the people you want it to (and not to the taxman).
regularly, and to make it easy for an accountant to complete them at year end.
Value Added Tax (VAT)
• Plan ahead – if your accounts are completed
This is a tax on the sale of goods and services, and
quickly, you’ll have more time to prepare for any
you must register to pay it if your annual taxable
tax payments you have to make
turnover is more than £60,000. If your turnover is less than £60,000, it’s up to you whether you want to register or not – it might seem like more paperwork, but
• Get professional advice and make sure you’re registered correctly.
if you pay a lot of VAT on your raw materials, you can claim it back once you’re registered. Most goods and services are charged at the maximum VAT rate of 17.5 per cent, but some are charged at five per cent or at a zero rate. You can pick up leaflets that tell you which sales are zero-rated and exempt from VAT from your local VAT office (contact HMRC for details). VAT is a complex area, so it’s a good idea to ask an accountant for more advice.
49
Part 2
Finding an accountant
Tips for choosing an accountant
By now you know what finances you’ll have to keep track
Check for professional qualifications
of. You might have chosen computer software to help
Make sure the accountant you hire is a member of
you, but you’ll also need a hand from an accountant.
the Association of Chartered Certified Accountants
When you choose an accountant, you need to find
(ACCA), www.accaglobal.com; the Institute of
someone you can trust. After all, you’ll be baring your
Chartered Accountants in England & Wales (ICAEW),
financial soul to them.
www.icaew.co.uk; or the Institute of Chartered
You also need someone who can give you good professional advice and who has the right experience to help your business save money (and, hopefully, reduce its tax bills). Start by talking to a Local Business
Accountants of Scotland (ICAS), www.icas.org.uk Members have to go through rigorous training, pass specific exams and work to a professional code of conduct, so you’ll know they’re qualified.
Manager who can help you choose an accountant from
Think about the services you need
our Team of Experts, which includes a network of more
Accountants offer a range of services, from basic
than 900 accountants.
book-keeping to payroll, tax, VAT and strategic business advice. Try to find one who will add value to your business and who will give you more than just a standard service. For example, you might want to use accounting software on your computer, so you’ll need to check that the accountant can support the software you’ve chosen. Ask around Ask colleagues or friends if they know of any they’d recommend. Some business sectors (agriculture, for instance) have specific accountancy needs, so it’s also worth looking for people who specialise in your sector. You might also want to check the members’ directories on their websites, and take a look on www.yell.com or other business directories. Then, draw up a shortlist of potential firms.
There’s no business like yours Your Local Business Manager can give you all the advice you need to find a local accountant for your business. Just call 0800 515 4621 or visit www.barclays.co.uk/localbusiness 1: For terms and conditions, please turn to page 87.
50
Getting started
Insurance: keep your business safe and sound Just like with personal insurance, you should also protect your business against risks. There are some types of insurance cover that you need to have as a business, and others that are a good idea to give you peace of mind and financial security.
Insurance you have to have Employer’s liability insurance You need to have this if you employ people (other than immediate members of your family) or if your business is a limited company. The cover means you might not be legally liable if your employees are injured while at work. Motor insurance If you own a vehicle covered by the Road Traffic Act,
Did you know? Barclays has all the info you need on how to protect yourself and your business, including:
you’ll need to have third party liability insurance. Vehicles can also be a business asset, so you should insure them against damage with a comprehensive motor policy. If you have a private car that you use for
• the insurance that legally your business needs to have • the insurance that it’s a good idea to have
your business (even if it’s just for taking money to the bank) you can’t cover it for just social, domestic and pleasure use. If either you or your spouse have a car you use for business, you’ll need to let your insurers know
• how you can protect yourself against
and get them to confirm that you have enough cover.
liability claims Engineering plant • how to protect your premises or equipment in case of fire or theft • whether or not you need employer’s liability cover.
Certain types of plant and equipment, such as lifting, pressure and electrical equipment, have to be inspected at certain times set by law. You need to put an annual inspection policy or contract in place to comply with these regulations. You also need to know that you can’t get your plant inspected by the company that installs or maintains it. Special risks Depending on your type of business, there could be special risks which you’ll need to get cover for. To find out more, ask a solicitor.
51
Part 2
Insurance it’s a good idea to have
Share protection insurance
Material damage
You could get money to buy a share of your business
You should get insurance for business assets, such as
from a deceased or seriously ill partner and keep your
buildings, contents and stock, against threats like fire,
business stable.
theft, storms, floods, burst pipes, subsidence and other specified causes. Another option is to extend your cover to include accidental damage to get even wider
Loan protection insurance Could help to repay loans or personal guarantees if a business owner dies or becomes seriously ill.
protection. Pensions Business interruption This could cover you if your turnover drops or you lose money because business assets at your premises get damaged. You could also be covered for damage at
Could help prevent you from becoming dependent on the money your business makes, by giving you a separate tax-efficient fund to give you income when you retire.
suppliers’ or customers’ premises, or at neighbouring premises where it affects your turnover or profit. Public liability You might not be legally liable to people who are injured or whose property is damaged because of work your business is doing. Products liability You might not be legally liable to people who are injured or whose property is damaged because of products you’ve supplied them with. Money Could cover loss of an agreed amount of business money if it happens while it’s in transit or in the business premises when they’re open, or if it’s taken from a safe, overnight from your home or from your business premises. Goods in transit Could cover your business goods that are being moved by your vehicles, by carrier or by other means. It’s worth remembering that this cover isn’t normally included in motor vehicle insurance policies. Professional indemnity You might not be legally liable if you make a mistake while you’re working for your business. Key person insurance Could help to protect your business from losing money if a key employee dies or becomes seriously ill.
There’s no business like yours For more information on how we can help make sure your business is covered, just call 0800 515 4621 or visit www.barclays.co.uk/localbusiness
1: For terms and conditions, please turn to page 87.
52
Getting started
Staying legal: rules and red tape You’ll need to be aware of all the legal issues when you start your own business, to make sure your business keeps you on the right side of the law. Ask for advice from a solicitor to check you’re fully compliant with the latest legislation, and become familiar with these basic procedures: • Get all business agreements in writing. This will help prevent misunderstandings later on • Use contracts. Everyone will be clear about their obligations from the outset • Draw up agreements. This is especially important if you’re going into partnership with someone • Make sure you attach terms and conditions to every sale, especially if you offer credit terms. Again, it’ll
• provide adequate instruction, training, supervision and information • make arrangements to safely store, move, handle and use items and substances • appoint a safety representative and, if requested, a safety committee • write a health and safety policy if you employ five or more people. There are also obligations you need to meet under the Management of Health and Safety Work Regulations (1992). For more information, check out the Health and Safety Executive website (www.hse.gov.uk), or ask a solicitor.
keep obligations clear right from the start.
Employment law The moment you employ someone to work in your business, you need to be aware of a range of regulations, including the minimum wage, working time regulations, stakeholder pensions, maternity rights, statutory sick pay and more. Many, but not all, laws only apply once you employ five or more people.
Health and safety
Did you know? If you hire people, the employment and health and safety compliance service included in our Barclays Business Manager software can help you to: • attract and hire quality staff • comply with health and safety and employment law • make complicated staffing decisions simple
Under the Health and Safety Work Act (1974) you need
(pension provision and flexible working, for
to ensure the health and safety of your employees as
example)
well as people who might be affected by what your business does. You’ll need to:
• create essential documents, like employment contracts and your work policy.
• make sure your workplace is maintained and safe, with safe access and exits • maintain equipment and safe working systems
53
Part 2
Tax and VAT registration
You could also ask other people you know who own
Once you set up your own business, if you have
a similar type of business as you whether they can
untaxed income it’s up to you to let HMRC know that
recommend a solicitor. If your business has specific
you need to complete a self-assessment tax return.
legal needs, the Law Society can help (visit
And if your business earns more than £60,000 a year,
www.lawsociety.org.uk), or if you belong to a trade
you’ll have to register for VAT.
or professional association, they can also point you in the right direction.
Tax when you work through a third party: IR35 This brings the tax and NICs you pay for contracts you work on in line with the tax you’d pay as an employee under the PAYE system. IR35 applies when you provide
Tips to choosing a solicitor • Make sure they hold a practising certificate so you can rest assured that they’re qualified and insured if anything goes wrong.
services to a client through your business and:
• Get quotes from a few solicitors and make a shortlist.
• your business is a partnership or limited company;
• Arrange a face-to-face meeting, and make sure the
and • if it wasn’t for your business, you’d be directly employed by your client as their employee. For example, if you’re a self-employed subcontractor
person you meet is the person who will be doing the work for you. • Work out what you need them to do, and aim to develop a long-term relationship so they truly get to grips with your business.
and you mainly work for one client, HMRC may treat you as if you’re employed by your client and tax you
Insider knowledge
through the normal PAYE route. It’s a complicated area,
As well as getting advice from a solicitor, you can use
so take the time to find out how it affects you. See
the Internet to find lots of information on your legal
www.hmrc.gov.uk for details.
obligations – each government department has its own website to help you stay up-to-date, for instance. And
Finding a solicitor
we’re here to help, too. A Local Business Manager can
Finding the right solicitor will help make your life as a
guide you in the right direction.
business owner trouble-free, and save you money and time. And just like when you search for the right accountant, you need to find a solicitor who’s qualified, specialises in your type of business and, importantly, who you can trust. The Lawyers For Your New Business programme, run by the Law Society, is a great place to start your search. It’s a network of more than 1,000 solicitors’ firms, and can put you in touch with local solicitors who specialise in business. Plus, when you open a new business account with Barclays, you get a free 30-minute consultation with a solicitor from the scheme through our Team of Experts, as well as a range of free business advice guides. Just ask your Local Business Manager for more information.
54
Getting started
Trading licences: will you need any? Lots of trades and businesses are governed by professional bodies, such as trade associations or licensing regulations. Being a member reassures your customers that the goods and services you’re providing are top-quality. Do I need a trading licence? As a rule, compulsory licensing is there to regulate
How can I find out what applies to my business? Check with your local council (go to the council directory at www.direct.gov.uk/QuickFind/LocalCouncils/fs/en), the Health and Safety Executive (www.hse.gov.uk) and your trade association or professional body (turn to the Useful contacts section for where to find them). Once you’ve drawn up a list of the licences, permissions and certificates you think you need, check your list with a solicitor.
businesses where risks to customers are considered significant. For instance, restaurants need to meet certain food hygiene standards, and medical practitioners need to have the appropriate qualifications.
Did you know? When you open a new business account with
Some licences need to be clearly on display so they can
Barclays, you get a free consultation with a
be read by staff and customers, while others have to be
solicitor or accountant from our Team of Experts.
kept safe and produced on demand to government,
You can use it as a chance to talk about the
professional or local inspectors.
licences and codes that might apply to your business. For more information, just ask a Local
Voluntary codes
Business Manager.
There are some voluntary codes of conduct and nonstatutory professional associations you might want to sign up to. Having them can create an excellent impression with your staff and customers. For example, by becoming a member of a Trade Association, such as the Home Builders Federation, you’ll be granted with its charter mark and people will know you have to meet its code of conduct.
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Part 2
Trademarks and copyright: keep it unique Once you’ve had a great idea, you’ll probably want to
A trademark is a sign that sets apart your goods or
protect it. The Patent Office is a government body that
services from the competition. It can be words, slogans,
protects the rights of those who register their ideas,
pictures, colours, sounds, logos or a combination of
inventions, designs and other creations with it. These
these. Like your business name, a good trademark can
creations are known as ‘intellectual property’ and the
add a lot of value to your business, so it’s worth
best-known types are:
spending time on getting yours just right.
Trademarks
You can register your trademark directly with The
Business brand names and logos
Patent Office, or through intermediary companies who
Copyright Films, photographs, books, etc Patents Inventions.
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will do all the paperwork for you. To avoid being taken to court, you should also make sure you don’t infringe other people’s copyrights. Go to www.patent.gov.uk to find out more.
Getting started
Technology: getting up to cyber speed You might want to get some sort of IT system going
Choosing and registering a domain name
when you start your business. The cost of computer
Keep it brief
hardware, like monitors and printers, and computer
Short names are easier to remember than long ones.
software – the programs that allow your business to
If your business name is long, you might choose to
function – can vary considerably.
abbreviate it or use its initials.
To figure out what you need, think about what you’ll
Make sure it’s memorable
be using a computer for: will it be just for admin and
If it’s easy for your customers to remember, it’s doing
keeping in touch with people, for example, or will you
a good job.
be doing more complex jobs on it like updating your website?
Make it distinctive Perhaps you have competitors offering similar services
Your website Having a website for your business is a must-have in today’s world. They’re an ideal (and inexpensive) way to
from similarly named websites? Coming up with something that little bit different will make yours stand out.
let your customers know you exist, and to display or sell
There are plenty of companies that offer name
your products or services.
registration services online. Just type ‘domain name registration’ into any search engine.
How do I build a website? Unless you’re a dab hand at web design and
Insider knowledge
programming, the easiest way to get your website
Before you rush off to register your name, remember
up and running is to have a professional do it for you.
that some of the more obvious and popular choices
Also make sure your website speaks to your target audience, especially when it comes to the page your
might have been taken. Come up with a shortlist of alternatives before you go any further.
potential customers land on first (your homepage). After all, first impressions count.
Do I need to buy a domain name? A domain name is the unique address that distinguishes every website on the Internet. This means customers everywhere can find your website, and ensures it only exists once. Once you’ve registered your domain name, it’s protected for as long as you rent it. Domain names can come from a huge variety of sources.
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Part 2
Keeping your IT secure
Insider knowledge
Even if your business is a one-man band, you might
If your business is growing quickly, it’s worth looking
have all the critical information about your business
into using the information security management system
stored on a computer, such as details about customers
British Standard 7799. It helps protect your business
and suppliers, correspondence and financial
information from threats and shows others that you’re
information. So it’s a smart move to protect your
operating to a certain accepted standard. Visit
business against viruses and other nasties that can
www.bsi-global.com to find out more.
sneak into your IT system. It’s also a good idea to have an IT security policy in place.
How to protect your IT • Invest in anti-virus software from a renowned source. This will scan daily for viruses that can sneak in on emails and downloads. • Remove spyware and adware software from your system. These can get into your computer without you knowing when you download other items, like software, from the Internet. Spyware gathers info from your computer and then sends it to someone else, while adware displays advertising on your screen when the program is running. • Back up your data – think about using an online back-up service. • Think about installing a firewall to prevent hackers from getting into your system. • If you’re not sure of a website’s security, don’t download anything from it. • Delete chain emails. • Never open email files from an unfamiliar source if they seem unusual.
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The future
Part 2
Business health checks: keep an eye on success Starting your own business is one of the most exciting
Suppliers
and rewarding things you’ll ever do. That’s why it pays
Review your suppliers. Have you got an eye on their
to do everything you can to ensure it succeeds.
service, products, prices and delivery capabilities? Could others benefit your business more?
Healthy and happy Review the following every few months to keep your business in great shape: Planning Do a SWOT analysis at regular intervals. It’ll keep your business on its toes: if you make changes to your products or services, or if you expand your business, it’ll spell out where you need to focus your efforts. Products and services If business is slow, think of ways to turn things around. Are there things you’re selling that are poor performers? Are they still meeting customer needs? Could they be sold to another target market?
Competitors Keep track of what your competitors are up to, eg their prices, promotions and service, as well as any newcomers to the market. Marketing Reassess your marketing strategy. Is it still the best for your business? Are you targeting the right people? Are there other channels you could use to get more out of your business? Customers Are you getting more of them? Keeping them? Losing them? Do you need to change your customer base? Listen to their feedback and comments. Think of ways
Finance
you can identify your most profitable customers and to
Look at your finances and whether anything could be
show how much you value them.
changed. Are you keeping up to date with your financial records? Have you noticed any cash flow and/or profit trends?
Resources Is there extra technology you could invest in that would benefit your business? Staff Do you have the right staff on board? Do they need training? Do they get on well with customers, suppliers and other staff? Or, if you haven’t got any staff, could
There’s no business like yours
your business benefit from an extra pair of hands? Performance
Running a business is all about taking action where
Analyse your sales data regularly to see if it’s falling,
it’s needed so it becomes a success. We’re here to
rising or staying the same.
help you do just that. For business advice, call 0800 515 4621 for business advice, or visit www.barclays.co.uk/localbusiness 1: For terms and conditions, please turn to page 87.
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Getting started
“
Real-life story Belinda Benfield, founder of Colourmove, came up with a clever idea to make moving home easier, and turned it into a business. Now, two years later, she says that the support of her Local Business Manager has been key to her success.
After helping with five house moves in just three months, Belinda came up with the simple idea to sell colour-coded stickers that enable movers to label boxes and furniture easily and without fuss. In the two years that Colourmove has been up and running, Belinda has dealt with each challenge one by one – no matter how long it took. After months of research and design to perfect the product, she talked to Barclays. “I met Cliff Foster, the Local Business Manager for my area. He completely
“
understood the Colourmove idea from the beginning, and he really believed in the company.”
Indeed, without his support over the past 18 months,
Colourmove might have folded. “My first target market was the moving industry, and it’s incredibly hard to
break into because the majority of moving companies
are family-run and very resistant to change,” she says. “It was tough, but Cliff stuck by me through thick and thin. I couldn’t have done it without him.”
Belinda Benfield, Barclays business customer.
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How we can help you You’re dedicated to making your new business a success and we are too. From personal support and a wide range of ways to bank to business software and expert advice, we can give you what you need to make your business grow. In this section we’ll give you a rundown of how we can help you every step of the way. Where to find what you need: The big question: what’s the right banking solution for your business? Option 1: Barclays Business Start-up package Local Business Managers
Option 2: Barclays Business Essentials
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Option 3: Barclays Business Essentials Plus
67
64
Option 4: Barclays Business Manager
68
64
We’re here for you: great solutions to help your business
64
Personal support all the way
Local Business Support Team A helping hand
A wealth of products
64
For all your banking needs
Flexible business banking
Getting started
69
Your everyday banking sorted
65
In branch, online or by phone
Our Team of Experts
65
Get the professionals on your side
Even more advice and information The answers when you need them
66 There’s no business like yours We’re here to help make sure that your business stays on the path you want it to. Contact one of our Local Business Managers on 0800 515 4621 or visit www.barclays.co.uk/localbusiness
1: For terms and conditions, please turn to page 87.
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Part 3
The big question: what’s the right banking solution for your business? The ball’s rolling and your great business idea is coming to life. Now, all you have to do is open a new bank
Local Business Support Team: a helping hand
account for your business. But how do you know which
We understand that you – and your business – might
bank account to open? After all, choosing the right
need help beyond the normal nine to five. After all, you’re
bank account is important – it’ll save you time
passionate about your new business and we’re passionate
and money in the long run.
about helping you make it the best it can be. So if you
Our four business banking solutions give you the
need support when your Local Business Manager is
support you need to help make your business a
engaged with a customer, you’ll be able to call our award-
success. Your Local Business Manager can help to
winning* Local Business Support Team and get hold of
choose the right option for your business.
one of our managers whenever you need to.
Option 1: Barclays Business Start-up package The Business Banking Start-up package gives you support and flexibility while you’re getting your business up and running. It includes all the basics, like current,
*Barclays Local Business Banking winner 2005
savings and deposit accounts, plus a debit card as well as access to a range of comprehensive products, such
A wealth of products: for all your banking needs
as business loans (subject to application and status). And because we know that money is tight during the
You’ll have access to a wide range of products to help
first year of being in business, your day-to-day bank account transactions will be free for the first 12 months .
you get started, as well as for your everyday business
Here’s a rundown of what you’ll get:
banking needs, including:
2
• a current account
Local Business Managers: personal support all the way
• debit card
When you open your business account with Barclays,
• instant savings account
you’ll be appointed a Local Business Manager based in your area. Each has knowledge of the district they work in and specialises in helping people who are starting their own business. They understand the hard work that goes into setting
• general insurance • A Barclaycard Business Card (subject to application and status) with up to 56 days’ interest free credit when paid in full and on time.
up and running your own business and can help you
Plus, you can get up to 12 months’ free day-to-day
get to grips with it all. They can also give you access to
banking transactions2 and loans to give your business a
advice on accountancy, law and marketing to get your
funding boost. For more information on our wide range
business running to its full potential.
of products, turn to page 67.
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How we can help you
Flexible business banking: in branch, online or by phone
Our Team of Experts: get the professionals on your side
Banking is as essential to any new business as choosing
You might feel like you have a million things to think
a great name and having a business plan. To help you
about when you’re in the first days of running your
get the day-to-day banking admin sorted, we make it
business. But if you take time out early on to talk to
as easy as possibly for you to do your banking how and
people in the know, you’ll save precious time and be
when it suits you.
prepared for whatever happens further down the line.
Go in branch Whether you’ve got a cheque to pay in, or you want
That’s why with the Barclays Business Start-up package you get:
face-to-face service, there are some times when you’ll
A free consultation with an accountant
want to bank at one of our branches. Evening banking,
‘Accountants For Your New Business’ is a programme run
self-service terminals and nightsafes are available at
by Barclays and the Association of Chartered Certified
most of our branches, too.
Accountants. You’ll get 45 minutes of free business
Get online Want to do your banking after dinner or before breakfast? Try our online banking service. It’s a
advice with an accountant who’ll help you with: • which authorities you need to let know you’re starting a business
hassle-free way to check your accounts, pay bills or suppliers and move funds between accounts in minutes. You can even apply for business overdrafts and loans, as well as download your account information. Just pick up the phone Use our telephone banking service to move money
• which forms, returns and info you’ll need to submit on an ongoing basis • the accounting records you legally need to keep and for your business to run efficiently • the best way to operate your business – limited
between your accounts, pay bills or just to check your
company, partnership or sole trader – and the
balance – all for the cost of a local call. Your Local
commercial and tax features of each.
Business Manager can organise your membership number and your passcode.
A free consultation with a solicitor ‘Lawyers For Your New Business’ is a network of solicitors that gives help and advice to small and medium-sized businesses in England and Wales. It’s run by the Law Society, and you’ll get a free 30-minute consultation with a solicitor who specialises in business law, as well as a range of free business guides. A free marketing consultation With ‘Marketing For Your New Business’, you’ll get 45 minutes of free advice from a National Federation
Did you know?
of Enterprise Agencies marketing advisor. During your meeting you will:
You can also use our free 24-hour legal and tax helpline3 when you need on-the-spot advice.
• work through a planning template
For a full list of the our fact sheets, speak to one
• find out marketing tips that can really make a
of our Local Business Manager, call 0800 515 4621
difference to your business.
or visit www.barclays.co.uk/localbusiness 1, 2: For terms and conditions, please turn to page 87.
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Part 3
Even more advice and information: the answers when you need them
“
Real-life story With nothing like it in their home town of Stafford,
When you start your own business, there’ll be whole host
Louise Hope and Mary Allan came up with the idea of
of new things to learn. That’s why we offer you lots of
setting up a children’s play centre – Play Paradise. Their
different sources of advice and support, so you can find out what you need to know, when you need to know it. Community programme Barclays is committed to supporting local communities. We support a wide range of community projects every
past experience made the idea a natural fit: Mary has managed several nurseries, Louise has a business management degree and both have children of their own.
Play Paradise features a large range of play equipment
year. A key component of this support is the provision,
and educational interactive play panels for children
guidance and support to local businesses. Our
aged from six months to 12 years old, a five-a-side
‘Committed to Local Business Communities Programme’
sport stadium, toddler village, café and party room.
which has a focus on economically disadvantaged
Plus, unlike many other play centres, parents can play
communities is accessible to all and comprises a wide
with their children on the equipment too.
range of activities including local business seminars.
With just seven months to plan and launch the
Business seminars
business, Mary and Louise had to deal with plenty of
Our nationwide programme of around 500 practical and
challenges. One of the biggest was funding, as they
useful seminars are run with the National Federation of
needed a large outlay for the equipment. So, just a
Enterprise Agencies and in conjunction with the
month after starting to put their plans into action, they
Association of Chartered Certified Accountants.
went to Barclays and met their Local Business Manager,
event for you. If you’re thinking about exploring new business ideas, we have a seminar to help you find out if self-employment is for you. If you already have a business idea and are ready to start, we’ve got seminars to give
Julian Wilshaw. “We went to him fairly near the beginning because finding the money was such a big
“
Whatever stage of starting up you’re at, we’ve got an
part,” says Louise. They’re now in contact with him
nearly every week: “He’s been brilliant because he’s supported us and given us the loan to do it.”
you more detail on key areas of business such as
And despite the challenges, Mary and Louise already
marketing and business planning.
have plans to set up another play centre in a different
Many of the people who run the seminars also run their own business, so they know exactly what you’re facing and can let you in on the tricks of the trade. Plus, you’ll get to meet other people who are (or are considering)
town in the next year. Louise’s piece of advice to anyone starting their own business? “Stick at it because
although there are so many obstacles in the way, it’s so worth it.”
starting a business and make new contacts. To find out
Mary Allan and Louise Hope, Barclays Business
more, visit www.barclays.co.uk/seminars
customers, Stafford.
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How we can help you
Option 2: Barclays Business Essentials
Option 3: Barclays Business Essentials Plus
Based on the tools and services that successful
Barclays Business Essentials Plus is a business banking
businesses use, our Barclays Business Essentials
and services package that includes even more tools to
package can help you lay down the best possible
help you beat the competition and develop the skills
foundation for your new business.
you need to succeed. As well as the benefits you get
You’ll enjoy all the benefits of our Business Start-up package, with free everyday banking transactions extended to 18 months2 and more than £700 worth of essential business software and services4. You’ll also get a choice of accounts software to help you
from our Business Start-up package, you’ll get essential business applications and services worth more than £1,2004, including advanced book-keeping software and free everyday banking transactions for up to 18 months2.
keep on top of your business finances, as well as tools
What you’ll get
to help you manage your planning and marketing easily
• All the benefits of our Barclays Business Start-up package
and efficiently.
• Free banking extended to 18 months2
What you’ll get • All the benefits of our Barclays Business Start-up package
• QuickBooks Pro book-keeping software, which enables you to easily keep track of your finances
2
• Free banking extended to 18 months
• QuickBooks SimpleStart or Sage Instant Accounts software, which enable you to track money going into and coming out of your business, and know how much money your business is making • Business Plan Pro business planning software, which shows you the secrets to creating a
more closely, including cash flow, as well as keep on top of your stock control and VAT • Business Plan Pro business planning software • Marketing Plan Pro marketing planning software • Business and software skills courses and videos • Free face-to-face software training for a full day,
professional business plan, as well as break even
which will show you how to make the most of your
and sales forecasts
business software and applications.
• Marketing Plan Pro marketing planning software to help you find your competitors, learn how to
Barclays Business Essentials packages are available from £16 +VAT4 a month.
compete with them, raise customer awareness and increase sales • Business and software skills courses and videos to develop your business skills, like how to negotiate the best deals and provide better customer service.
2, 4: For terms and conditions, please turn to page 87.
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Part 3
Option 4: Barclays Business Manager
• Business Plan Pro business planning software • Business and software skills courses and videos
Our acclaimed* Barclays Business Manager software is designed to give your business the very best support
• Marketing Plan Pro marketing planning software
and tools to boost its performance as it develops.
• QuickBooks Pro or Sage Line 50 book-keeping
Barclays Business Manager software combines all the
software, with advanced systems to help you manage
benefits of our Barclays Business Start-up package to
your finances easily, keep accurate records of your
give you an all-in-one business banking solution with
stock, handle VAT, and make your business
5
more than £2,000 worth of essential business software
more profitable
and services. • Free face-to-face software training. You’ll get the very best tools to help you handle your more intricate business needs, such as stock, finance,
• Employment and health and safety compliance
tax and staff. It’ll also help you meet all the necessary
service, which can help you to attract and recruit
health and safety and employment regulations.
quality staff, as well as meet health and safety and employment legislation.
What you’ll get • All the benefits of our Barclays Business Start-up package • Free banking extended to 18 months2
You can get Barclays Business Manager from only £23 +VAT5 a month. * Computer Shopper magazine Best Buy Award, January 2006.
2, 5: For terms and conditions, please turn to page 87.
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How we can help you
We’re here for you: great solutions to help your business Getting started: your everyday banking sorted
And after you’ve done all that hard work, you’ll want
You’ve set the goals you want your new business to
for you to provide a Chip and PIN service. You can
reach in the future. Our wide range of products and
accept debit and credit card payments quickly, simply
services is designed to help you achieve them. It includes
and securely, making it easier for you to do business.
everything you need to get started and to carry out your
For more information on Barclaycard Business,
day-to-day business banking, like current and savings
visit www.barclaycardbusiness.co.uk
to get paid for it. With Barclaycard Business it’s easy
accounts, credit cards and loans (subject to application and status). You can also get free banking for up to 2
18 months .
Insider Knowledge To keep your business in great shape, set aside a certain amount each month to cover unexpected costs, like
Savings and investments No doubt, part of your vision sees your business getting bigger and better. Our wide range of interest-earning
VAT. If you keep the money in a separate account, it won’t be absorbed by your business for other expenses and you’ll be able to pay your bills on time.
business deposit accounts is designed to give you easy access to your cash, help you save to pay for tax bills and make any surplus cash you have grow. Cash in the hand Use your business debit card to withdraw cash, even when your branch is closed, from any cash machine that shows the VISA or LINK sign. You can also use it to buy goods and services from more than 16 million retail outlets around the world. Fantastic plastic With a Barclaycard Business Card (subject to application and status), you can make purchases easily, and get up to 56 days’ interest-free credit when paid in full and on time.
There’s no business like yours We’re here to help make sure that your business stays on the path you want it to. Just call 0800 515 4621, talk to one of our Local Business Managers or visit www.barclays.co.uk/localbusiness
1, 2: For terms and conditions, please turn to page 87.
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Part 3
Finance for every type of business Whether you need finance to get your idea off the ground, expand your growing business or buy your own business premises, we’ve got the solution (subject to application and status).
What you want to do: Plan and manage your cash flow better • How do you manage your business finances so that you can focus on the day-to-day running of your business?
How we can help: • Get complete control over your finances using Online
What you want to do: Get more cash into your business • Do you want to be able to get your hands on extra cash for your business exactly when you need it? • Do you need to borrow a fixed amount but want
Banking. It lets you do your banking where and when it suits you. • Barclays Business Essentials packages and Barclays Business Manager software include a choice of market-leading accounts software. They’ll help you
to budget for the repayments over a certain amount
to manage your daily book-keeping and VAT quickly
of time?
and easily, as well as track how your business is doing.
• Do you want to pay your bills but keep control of your cash flow? • Is your cash flow put under added pressure when you give your customers credit terms?
How we can help: • Barclayloan for Business (subject to application and status) gives you fixed interest rates over a period from one to 10 years to repay what you’ve borrowed. A fast decision gives you quick access to business funds, plus it makes budgeting easier because you know what you have to pay each month.
What you want to do: Buy equipment or vehicles for your business • Do you want to buy an asset but keep your monthly payments as low as possible? • Do you want to buy an asset up front?
How we can help: • You could use our Barclayloan for Business (subject to application and status) to buy assets worth up to
• A business overdraft could give you flexible
£25,000 over a period from one to ten years.
short-term finance on your current accounts so you’ve got money you can use in your business.
• Buy specific assets, like vehicles or machinery, at competitive repayment rates with a lease purchase
• Barclays Sales Financing could give your business
arrangement from Barclays Asset Finance.
a cash-flow boost with Sales Ledger Financing.
There’s no business like yours To find out more, or to apply for any of these accounts or services, just call 0800 515 4621, talk |to your Local Business Manager, visit www.barclays.co.uk/localbusiness 1: For terms and conditions, please turn to page 87.
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How we can help you
What you want to do: Buy larger assets or an investment property
What you want to do: Make the most of the money tied up in your business
• Would you like a choice of variable or fixed rates?
• Do you want to use the cash tied up in one of your
• Do you want to cut your costs to start with by not having to make repayments for the first 24 months (other than to cover the interest)?
business properties?
How we can help: • Use a Flexible Commercial Mortgage to
How we can help: • Use a Flexible Business Loan (subject to application
release equity in your business and finance another purpose.
and status) to borrow larger amounts. It could be tailored to your situation and you could even take a repayment holiday. • If you want to buy a Buy To Let property, use our Property Investment Loan.
Expert guidance from a Local Business Manager Here’s an outline of what banks look for when they’re lending money to a business: A good financial track record
What you want to do: Buy your own business premises • Are you looking for a flexible mortgage? • Or would you rather go for a lower rate?
If you’ve had problems in the past, be open with your bank because they might still be able to help. Experience Of being in business or being self-employed, for instance.
How we can help: • Switch between fixed or variable interest rates during the lifetime of the loan with a Flexible Commercial Mortgage. • Barclays also offers the no-frills Commercial Mortgage Saver, which offers a lower rate but without the flexibility.
A good fit between the type of borrowing you need and why you need it For example, a business overdraft could cover outstanding monthly invoices. A degree of financial commitment If you’re borrowing to buy an asset for your business, you might have to pay part of the cost. Security for your loans This isn’t always needed.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Part 3
What you want to do: Protect your business in case you can’t make repayments
What you want to do: Prevent losing on exchange rates when you trade abroad
• Do you want to protect your business if something
• When you import goods, do you know just how much
unexpected happens, like you become ill?
How we can help: • For loans less than £25,000, Payment Protection
you’ll end up paying for them? • When you sell goods abroad, for example on the Internet, do you know just how much you’ll be paid in sterling?
Insurance could cover your repayments in case of illness or death. • Barclays Financial Planning can arrange tailored protection for any other loans.
How we can help: • Forward Exchange Contracts could protect your sterling amounts from foreign currency fluctuations. • If you deal with suppliers and customers in a
What you want to do: Insure your business assets
certain country on a regular basis, Barclays Foreign Currency Accounts could lower the longer-term risks to your money.
• Could you do business if assets, such as vehicles, machinery or computers, were damaged or lost in a fire, or stolen? • Could you do business if your buildings were damaged? • Does your business have cover that it has to have, such as Public Liability or Employers’ Liability insurance?
What you want to do: Write a business plan • Do you want a business plan that sets out what you want to achieve and how you’ll achieve it, is simple to understand and convinces financial investors to support you?
How we can help: • Barclays offers a range of options to get you the right cover for your business.
How we can help: • Barclays Business Essentials packages and Barclays Business Manager software include easy-to-use Business Plan Pro software with more than 400 sample plans. The software can help you build your business plan, financial forecasts and analysis that gets results.
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How we can help you
Opening a bank account
When you come in to Barclays to open a new business account, remember to bring with you: your passport or driving licence or EU National Identity card so that we can positively identify you
For a limited company, you’ll also need to bring in: proof of trading name (if applicable) – a Board of Resolution signed by all relevant officials Certificate of Incorporation – including your
proof of your current address – a recent (no more
Company Registration Number – so that a
than three months old) utility bill (not mobile phone
Companies House search can be done to verify
bill), council tax bill, or a bank or credit card statement
company officials
either a trading invoice or a utility bill if your business
proof of shareholding of the limited company –
will be using a trading name rather than your own
normally this will be confirmed through our company
name. Or you can show us letter-headed stationery
search process, but if the information isn’t available,
with your business trading name, trading address and
it’ll need to be confirmed in writing by a solicitor or
name(s) of the proprietor or partners on it.
accountant by supplying a copy of the Company Share Register or from copies of the share certificates.
Insider knowledge If you decide to get a printer to produce your business stationery for you, make sure you’re happy with the quality of the work they’ve done before. Also, ask friends and family if they can recommend anyone, and keep an eye out for high-quality stationery you receive from suppliers and customers. To find a printer in your area, go to www.selectprinter.com
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