Monthly Archives: September 2021

Hot Business News Today

Setting up as a sole trader – a business is born

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By James Johnson on Small Business – Advice and Ideas for UK Small Businesses and SMEs

Starting a new business is understandably an exciting and apprehensive time. First you have the business idea, perhaps carried out a little research on the demand for your product or service; one of the first decisions to make is what type of business structure to adopt. Setting up as a sole trader is a preferred option for many starting out.

The basic three options are sole trader, partnership or a limited company.

The most common form of business structure for start-ups in the UK is a sole trader, where you trade under your own or a business name. As a sole trader, the risks and rewards rest entirely with you.

>See also: Should I go sole trader, partnership or limited company?

Setting up as a sole trader

There are many ways for a sole trader to set up and start in business, from starting a trade, buying a franchise, taking a hobby to the next level, or inventing a new product or service. Successful businesses do, however, share common traits – a unique product or service or selling strategy.

Any new business owner will naturally be focused on establishing a customer

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Hot Business News Today

Former Start-Up Series winner discusses his next funding round – Ed Bird, Bird Eyewear

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By Nick Ismail on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Following winning The Start-Up Series competition, Ed Bird from Bird Eyewear discusses how the business has shifted since winning the competition, the biggest growth challenges the business experienced, how to focus on the next funding round and provides his advice for entrepreneurs on the beginning of the start-up funding journeys.
To find out more about The Start-Up Series competition – run by Worth Capital in partnership with Small Business – and how your small business could secure up to £250,000 in equity funding, read here.
Can you remind us what your company does and how the business has shifted since you won the Start-Up Series and first received investment?
We make beautiful sustainable eyewear – creating exceptional designs and focusing obsessively on quality. For us it’s about reframing what really matters; people and planet. Firstly, seeking out the best sustainable materials for our frames, including certified woods, bio-based acetate, renewable cork and recycled aluminium.
We also ensure that every pair of Birds gives back through our Share Your Sun partnership with SolarAid. Helping to distribute solar light to families in Zambia and Malawi, replacing the use of fossil fuel

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