If you don’t plan to work for other companies or be an employee, then you can be your own boss by registering a UK company to earn money. Company registration takes a few processes and time before you can actually have your company to call your own for operating your business. To operate your business, you need to have a business registration license number in the company formation. You can do this by going to the business registration body to set up your company for some legal fees. After validating your information and details, then they will approve your application to run your business in UK. Not every application will be approved automatically how to start a Limited company as there are some criteria to fulfill. First, you need to have enough money in your bank accounts to run your business and to tide you over in the first few months when there are not clients or customers.
Running your company
You can run the company yourself like in sole proprietorship where the boss does everything himself including finding sales and receiving payments to servicing the clients. Or you can hire other people to run the company for you like getting secretaries, and other staffs or blue collar workers to work in the sun installing sports surfaces for instance. You can also hire a logistics manager to do the everyday running of the company and to meet clients and go for meetings. The logistics manager will have to meet suppliers, process imports, handle delivery, pay customs and basically run the whole show. This will save you time to do other more important things when you hire other people to do the work for you. With the extra time, you can look for new business; convince potential clients of your quality products and services and to find new customers.
Earning money from your business
The amount of money that you can earn is limitless and depending on your capabilities to attract new clients and businesses. You will need to do marketing and advertising which is the lifeblood of any business whether online or offline in the store or office lot. Various companies that you can set up include a retail shop, office lot to provide professional services, restaurants, construction companies and the list goes on. The money that you earn from your company can be used to pay for the operating costs and for advertisements through web sites or yellow pages to look for new businesses. You also need to pay your staffs their salaries – whether they are paid by the month or the day. You need to make sure that you get net profit at the end of the year and not having to top up with your own money just to run the business or company.
Other issues to consider in running a company
When there are misunderstandings between blue-collar workers or within your own department, you need to help solve problems that may arise. This is because an anxious and stressed worker will not be productive and will affect the overall income of the business. Everyone needs to work together in harmony for a win-win basis – the company makes good profit, the staffs get bonuses.