Small to medium businesses account for over half the UK economy and with a whopping £2 trillion being added, it’s clear to see how important they are to our economy. It’s also, arguably, never been easier to start a company with cloud computing, online banking, DIY websites, and all manner of business tools being made available.
If you’re about to join the estimated 5.9m SMEs in the UK then well done, and good luck! But before you get going, we thought you might like a little list to help you get started.
This is by far an exhaustive one, but it could be a useful start. Too many small business owners get carried away when they start out, and forget the basics. It’s an exciting time, but no matter how far the world has come, you still need a good solid (and proven) base to start a business from.
What do you call yourself?
Starting a business is a very emotional time and many liken the process to creating a new member of their family. You give birth to a business and the effort you’ll put in to keep it going will be tough, but rewarding.
Naming your business is important and it’s often the place many start. What should you call your business? Years ago there was a real trend to name your business by what you did. So Office Furniture Birmingham or Coventry Accountancy Services, but this trend is making way for the power of brand.
Start thinking big. The big brands rarely explain what they do in their name and the likes of Nike, Apple, Google, Sainsbury’s, Hilton, Red Bull, and pretty much any big brand you can think of rarely explain in their name what they do – it’s down to the brand to do that!
How do you decide on a name? Think about how your brand will make people feel and how they will engage with it. Also think about your mission and vision – your core values and beliefs about what you do.
It’s all about brand
Branding is incredibly powerful and many say that a brand is what people say about you when you’re not in the room. A brand is more than a visual logo or a name; it’s the entire package.
A brand covers:
- Personality of the business
- The values
- The beliefs
- The aim
- The ideal client or customer
The aim of a brand is to be remembered by creating a feeling, a memory, a sense of belonging or simply make someone smile or stand up and listen. There are many ways you can look at a brand and lots of people who can help you – just make sure you start with one!
Branding shapes your business and the marketing from it and that’s all really important to your growth and success.
Should I use a cheap and quick designer?
Once you’ve got a name and a brand idea you’ll want to look to a designer to create it all for you. Online you have a plethora of choice for people who can create logos and graphics for you and it’s here you need to tread with caution.
A brand is not a logo or a simple jpg. A brand forms the very basis of everything you do. It’s more than one logo and a colour palette. Are you sure you want to entrust someone on a $5 website service or someone you met on Facebook?
A brand is an investment and it’s well worth taking the time to research companies and getting it right. Sure, the big companies don’t start with a huge brand right away, but they have a better start than a cheap mocked up logo.
Most cheap designers will only give you a logo, not a brand, and that’s not going to do much for you in the long term.
Claim your domain
As soon as you can, claim the domain for your new business and brand. The more time that passes and less unique your brand, the less chance there is that the domain for your website and emails will be available.
Get online and do some research and buy up the domain as soon as you know. They’re relatively inexpensive so you might as well grab a couple even if you’re unsure at first.
It’s also worth noting that if you’re a UK business then .co.uk is best but you should grab the .com too. You might also want to look at other domains like .biz .co or .uk too. These are more now popular than ever.
Securing them consistently across the board is the aim here.