Preparing to launch

Where to begin

• Define a first offer, who will buy it and how you will deliver it. Work backwards from a realistic price and cost.

• List launch costs, recurring commitments and the cash needed before customers pay. Stage your spending around evidence and milestones.

• Compare business structures and check registration, tax, licences and intellectual property for your actual activity and location before trading.

Plan the first sale

Write a simple checklist: offer and customer, supplier and delivery, selling price, payment method, start-up costs and the evidence you need before spending more. Try a small launch where possible and allow for late payments or a supplier delay.

Check which permissions apply to the activity and location, not simply the name you give the business. A food producer, for example, may need a different licence from a consultancy. Compare the cost and obligations of each structure with your ownership and financing plans.

Go deeper

• Set up and start selling
• Business registration
• Before applying for funding

Choose more stages and concerns