Encouraging Signs for Start-Up Businesses in North West England

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2014 saw a record number of new businesses being created in the North West of England (and the UK as a whole), as shown by figures recently published by the StartUp Britain campaign following research run by think tank Centre for Entrepreneurs.

Although expectedly Greater London and Birmingham remained at the top of the table for the highest number of start-ups with 184,671 and 18,337 respectively, Manchester came in ranked third with 13,054 start-ups in 2014.  The figures for Manchester were considerably higher than some of its other notable Northern counterparts with Sheffield having a total of 8,052 and Leeds 6,778 new start-ups.

This strong result from Manchester supports its place at the core of what George Osbourne described as a ‘Northern Powerhouse’ concept during his speech at Manchester Airport in July; the idea of creating a more balanced economy by connecting cities in the North.  It was not just Manchester however, but also Warrington, Liverpool and Stockport also showing signs of encouragement for the growth of the North West’s economy.

Whilst these figures only reflect the number of company registrations at Companies House and so do not take into account the amount of businesses which were actually launched or managed to generate revenue, they do serve as evidence that the nation’s entrepreneurial spirit is on the rise.

The key to success for many start-ups is being able to turn this entrepreneurial spirit into an efficient, profitable business.  It is important therefore to ensure that you are running your business using the most appropriate form of corporate entity and that you have the necessary safeguards in place to protect your business from the outset.

So how can the Forbes Solicitors business law team help you?

  1. Setting up your business

Company? Partnership? Sole Trader?  There are a number of options to choose from, all of which have different consequences and registration requirements.  Allow us to help you select the most appropriate entity and put you in touch with those who can help you make the most tax-efficient selection.

  1. Protecting your ideas/brand

If a good idea, brand name or logo lies at the heart of your business, this can be protected through a number of different channels.  Intellectual property adds value to your business and making sure that it is protected adequately can help you prevent others from exploiting it.

  1. Clear terms of business

In the unfortunate event that something doesn’t go to plan when dealing with consumers or other businesses be it through the buying or selling of goods and/or services.  Having clear terms which set out what happens in these circumstances is vital and many insurance companies also look at whether you have adequate terms of business in place, a move which could save you money!

For advice and assistance with setting up a new business or adequately protecting your existing business, contact the Forbes Solicitors’ Business Law Department on 0800 037 4628 or send an email enquiry using our contact form.

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