In today's dynamic economy, more people than ever are choosing entrepreneurship. Whether seeking financial independence, creating innovative solutions, or the allure of building something from scratch continues to drive business formation. According to Companies House data, new business registrations in the UK increased by 11.2% in Financial year ending 2024 compared to the previous year, with over 850,000 new companies formed. This upward trend reflects growing confidence in the UK business environment despite economic challenges, with digital businesses and service-based startups leading the charge.
Entrepreneurship is more about clarity rather than confidence.
Thinking of launching a new business? You might feel like you need a huge dose of confidence to take the leap, but the truth is, clarity is your real superpower. Whether you're dreaming of a small side hustle or a full-blown limited company, what truly helps you succeed is a clear vision.
What you really need:
Tip: GOV.UK provides comprehensive information to help you understand different business structures and what is right for you.
Most founders register as one of these:
Tip: While sole trader might be easier (for now, until MTD for ISTA kick-in!), many opt for a limited company due to its flexibility and professional credibility.
Forget a 40-page binder. A one-page business plan is more valuable and more likely to be read.
Add:
Simple. Powerful. Actionable.
A dedicated business account facilitates cash flow, keeps you compliant, and helps you scale quickly.
Digital banks such as Mettle and Tide are favourites among UK startups.
Tip: Stuck deciding between accounts? We know where the best startup deals are hiding. Ask us!
Yes, free money exists. But most people don’t look beyond Google’s first page.
Start your grant search here:
Tip: Many grants are regional, so check to see if any apply to you!
Validate your concept first before you create it. Try this 3-day market test sprint:
Day 1:
Day 2:
Day 3:
Founder rule: If five strangers will pay, you're about to start building.
A good name is strategic, not just cute.
Ask yourself:
Use software like Namechk and Nominet o search for
Tip: Memory is aided with alliterative names. Try: BrewDog, Monzo, Bumble
Looking for inspiration? Try one of these emerging business models:
Hot ideas in 2025:
Tip: Searches for keyword “low investment business UK” have risen 20% from last year.
GenTax Special Offer: We will register your company for only £30, including Companies House fees. That’s up to 40% lower than registering alone. Get in touch now!
We enable you to act boldly in business. If you are beginning a side hustle or creating a six-figure business, our ACCA-trained specialists provide you specialist accounting services. We are tech-first, fixed-cost, and future-focused. Our clients love how simple it is for them to go from “idea” to “income.”
What we offer:
Schedule a free startup call and let’s get your business started this week.
Is a business licence required for me?
Typically not, but these niche businesses require specific licenses: including those providing financial, childcare, or adult care services, operating taxis, managing waste, offering security services, dealing with animals, engaging in certain environmental activities, street trading, personal services like tattooing, or playing music/TV publicly.
How long does it take to register a company?
Do I need to register for VAT?
Only if your turnover is over £90,000—but early registration can be smart depending on your customers.
What is an easy business to start?
Service enterprises such as consulting, tutoring, or online assistance. Low-cost, quick launch.
What software should I use?
(P.S. We might have an offer. Just ask!)
Is my home address acceptable?
Yes, but it becomes a matter of public record for limited companies. Keep private using a virtual office. GenTax can help you with that.
Most appropriate software for creating a business website?
The biggest barrier to launch? Not forms. Not funds. Fear.
Let GenTax take stress away from you.
Schedule your free startup call today and let’s take your idea to income in one week.
