In very simple terms, there are five things needed to start trading as an outdoor fitness business:
- Form a limited company or start as a sole trader;
- Inform HMRC (Her Majesty’s Revenue and Customs);
- Obtain a bank account in the name of the limited company or sole trader;
- Find a chartered (tax) accountant; and
- Fund the bank account.
However, after reading this article you will come to realise that there is slightly more to it than that! And, although this article is fairly comprehensive it is not intended to be exhaustive.
Further, this article is not intended to tell you what to do, merely provide you with a starting point and guidance on areas to consider when thinking of starting your own business.
The main headings of the Outdoor Fitness Business Start-up Considerations article include:
Trading Vehicle (i.e. soletrader, partnership and the limited company);
Naming the business;
Location, Location, Location;
Branding and Online Presence;
Pricing and Product Strategy; and
Transport, Clothing and Misc Factors.
The document can be accessed in the downloads section of the website.
- Master Series: How Do I Pay Myself Expenses As A Sole Trader In 4 Steps (bullethq.com)
- Spotlight on Top Advantages of Forming a Limited Liability Company (simpleformations.wordpress.com)
- Legal Aspects & Legal Status (rakimanaman95.wordpress.com)
- Legal Status (libbycarterconfetti.wordpress.com)
- Legal Aspects of different business types. (richardackrillconfetti.wordpress.com)