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Setting up in the UK

Considering starting up a business in the UK?

If you are considering setting up a business in the UK, you need to think about the service or product that you want to sell, the potential clients you are selling to and what makes your business stand out from the crowd.

Italian Chamber of Commerce, in co-operation with professional partners in the legal, commercial, financial and marketing fields, are able to offer a complete consultancy during the initial steps necessary for the setting-up of a business in the UK.

Our Partners in the setting up process are Flying Formations, Accounts & CO and Sagitter One.

15 POINT CHECKLIST:

  • 1. How will you fund your business?
    • The amount of money you have to start will determine the direction your business takes. Consider how much finance you need to start with. Do you have enough or will you need to raise some money?
      Request whether there are any investment sites which offer incentives for your type of activity or any funding or grants for your business.

  • 2. Do you have a business plan?
    • A business plan will:
      » Describe what your business will do;
      » Explain who will buy your product or service, and why;
      » Include financial forecasts;
      » Indicate how much money (if any) is needed.
      So you see, a business plan is not just to please to the bank manager – failing to plan is planning to fail. The Italian Chamber of Commerce can offer you assistance, through the support of its partners, on how to plan your business, including sample plans, templates and finance tools.

  • 3. Do you have the right skills and experience?
    • The rule of thumb in business is to go into what you know. Your chances of success will be much higher if you have the relevant skills and experience to carry out the core activities in your new business.

      Review your own skills and consider training.

  • 4. What is your Unique Selling Point (USP)?
    • Stand out from the crowd – businesses operate in a highly competitive market, many statistics show failure rates amongst small businesses to be quite high, so how will you convince customers to choose you and not your competitors?

  • 5. Have you opened a business bank account?
    • You’ll need to keep a clear record of all your business transactions… and the best way to do that is to open your own business bank account. Ensure you do some research for the best free banking deals around and request to the Italian Chamber the organization of meetings with the business bankers in the High Street Banks.

  • 6. Have you chosen your business structure?
    • A decision should be made in the early stages of what legal form your business should take. The main legal structures in the UK are:
      » Sole Trader (Self-employed);
      » Partnership;
      » Ltd. Company.
      Request our guide for further information on each legal status.

  • 7. Have you notified Inland Revenue?
    • Inland Revenue works out how much your Tax and National Insurance contributions should be. You need to register with them within the first three months of trading. Contact the Newly Self-Employed Helpline on:
      Tel:+44 0 8459 15 45 15
      This service is also offered by the Italian Chamber through its partners.

  • 8. Do you need to register for VAT?
    • You will do, when your taxable sales exceed the current threshold (£85,000). Contact them on 0845 010 9000 or visit their website www.hmce.gov.uk
      This service is also offered by the Italian Chamber through its partners.

  • 9. Do you know your Health & Safety and environmental responsibilities?
    • You’ll need to check you legal responsibilities regarding Health & Safety for you employees and the public. And, also for food being prepared or stored in your premises.
      For further information: www.hse.gov.uk
      You should contact the Department for Environment, Food and Rural Affairs (DEFRA) on 0845 9333 5577 for regulations if your business deals with waste disposal, has air conditioning equipment or uses solvents for cleaning.

  • 10. Do you need a license?
    • You will need to contact your local authority when applying for a license. Businesses that need licenses include taxis, street traders, door-to-door sales, window cleaners, childminders, driving instructors and restaurants that serve alcohol.

  • 11. Is your data protected?
    • If your business has databases which hold information on people then you will need to contact the Information Commissioner’s Office on 01625 545 745 or visit www.dataprotection.gov.uk

  • 12. Have you found the right premises?
    • Finding the right location will take time and effort.
      Location is not the only issue you need to consider when finding premises… you must ensure you’ve covered all the important aspects that can affect your final decision.

  • 13. Do you know your obligations to your staff?
    • Under the employment protection legislation, all staff are entitled to certain rights.
      Use the following sources of information to ensure you’ve correctly followed your role as an employer: www.dti.gov.uk/pip
      Custom & Excise and Inland Revenue New Employer Helpline: 0845 607 0143
      You can read more about employing staff in Your Business, Your People.

  • 14. Have you got a specialist to help you with the legal aspects?
    • If you have any specific queries, please visit our Members’ Directory , you will find contact details of Legal Firms which can help you in the setting up of your business.

  • 15. Do you have business cards & promotional material?
    • The appearance of your business will be very important to the market it operates in. It is advisable to employ a design consultant to help you out. A well designed website will also create a better image for your business, but before spending time and money on a website, its value as a marketing tool for the business and its value to your clients should be well researched.
      If you need marketing material, a brand design or a website then please contact the Italian Chamber and we will recommend our partners.

Flying

If you are considering setting up a limited company or moving your business or residential status to the UK, do not hesitate to contact us:

Qad Raja
International Business Manager
Tel: +44 (0)207 127 5065
qad@flyingformations.com
www.flyingformations.com

Check if your Limited company name is available now, click on flyingformations.com/StartMyBusiness

If you would like to establish your limited company, the Chamber’s exclusive business setup Partner Flying Formations will be able to help you achieve this.

Working in Partnership with the Italian Chamber of Commerce, we specialise in helping Italian clients start and grow their business in the UK. We can also move your existing business from Italy to the UK.
At Flying Formations we understand the difficulties faced by International clients looking to start business in the UK. We help our clients every step of the way by:

  • • Setting up your Limited Company
  • • Legalisation of Company Documents (Certification & Apostille)
  • • Opening the Business Bank Account
  • • Finding a Property (If required)
  • • Growing the business
  • • Project Management
  • • Raising Finance
  • • Business Planning
  • • Applying for necessary business licences
  • • Marketing your business
  • • Providing key networking opportunities
  • • And much more…

As the exclusive business setup Partner with the Italian Chamber of Commerce, we provide a unique consultation meeting to answer any UK business queries you may have. We also ensure that you are aware of your limited company obligations in the UK to avoid future difficulties.
We can have your Limited company and Business bank account open within 10 working days. We have industry experts for every business industry, including food & wholesale, restaurants/bars, property, I.T, renewable energy, fashion & design etc.
The following are the business start-up and consultancy packages we offer:

Flying

AccountsCo

For further information, do not hesitate to contact us:
Simon Edrich
Director
Direct (UK): +44 (0) 203 397 3940
simone@accountsco.com
www.accountsco.com

AccountsCo is a chartered account and tax advisory firm. We specialise in assisting both private individuals and Italian companies in relocating to and working in the United Kingdom.

We offer a wide range of financial, taxation and bookkeeping services such as:

  • Registration for UK taxes (UK VAT, Corporation Tax, PaYE etc.)
  • Advice on residence, double taxation & double taxation agreements
  • General UK tax advice (and non-UK advice through our partners)
  • Specialist advice on VAT, including reverse charge VAT accounting, zero rating & other international aspects of VAT
  • Preparation of UK statutory accounts
  • Preparation of UK corporation tax returns
  • Audit of UK statutory accounts
  • Payroll (PaYE), VAT & CIS returns
  • Book-keeping
  • Financial forecasting and business plans

It is our goal to help small companies grow in the UK. We aim to help broaden their commercial activity and in turn benefit from various global opportunities.

Sagitter One

If you would like our help, please do not hesitate to contact:
Valentina Orlandi
Executive Manager
Tel: +44 (0)20 8144 3085
valentina@sagitterone.co.uk
www.sagitterone.co.uk

Sagitter One is a boutique hospitality consultancy based in London and operating across the European and international markets.

Sagitter One is focused on fully comprehending our clients’ needs. Whether you are an established restaurant planning to expand or a small independent café that needs to be re-launched, we will deliver personalised strategies, advice, and solutions to help with your setup, launch, and continued success.

Passion, Expertise, and Professionalism are our stand-out qualities.

We believe in bespoke services and not in standard procedures, because we know that each client requires individual solutions and strategies.

Whether you are an established restaurant, coffee shop, bar or pub planning to expand; or a struggling business looking for new opportunities; or a food business entrepreneur starting your first adventure, Sagitter One can help with your set up, launch and on-going success.

Our services include:

  • Strategy and operational support
  • Location Finding
  • Sales and Marketing Consultancy
  • Event management
  • Recruitment