| There are many important factors you must consider | | | | or those on the business for a long time before start |
| before starting a business. You must decide on the | | | | your own business. You can start small as a sole |
| best trading environment for your business. Decide on | | | | trader or form a partnership with family members or |
| your own financial situation, for instance, the mode of | | | | friends; on the long run it can turn into a mega limited |
| financing, loans and use of credit cards, mortgage, | | | | company. You must register with relevant authority or |
| pensions, tax implications or leasing. Another significant | | | | agency like the Inland Revenue for tax and National |
| factor is the need for office accommodation, motor | | | | Insurance. When the needs to employ staff arise, you |
| vehicle, property, equipment, land, type of business to | | | | must register for PAYE. You may be charged a |
| run and their requirement. | | | | penalty if you don't register within the first three |
| Make an informed decision by consulting a professional | | | | months of the venture. |