In 2019, everyone and their goldfish wants to start their very own business. But not everyone has what takes in order to do so. Especially when it comes to the organisational, practical, skills needed to form a business in the first place. This can become even tougher when attempting to establish a niche business such as a tech startup, as you will also have the issues of developing the right tech offering to be the starting basis of your business.
And so, here is everything you will need to get in place in order to establish your very own tech startup:
Get the Basics in Order
To establish any business, whether a tech startup or not, there are a number of basic business practices which you will need to get in order. Without doing so you could open up your business to certain liabilities or issues which you would preferably want to avoid. This includes registering your new business name, setting up your tax payments (both personal and business), as well as making sure your startup is compliant in regards to the sector you have established yourself in.
Without these fundamental basics in place, you may find yourself with more trouble than you would like to deal with as a fresh startup. Make sure your business is in order, then start to worry about all of the ‘tech’ things that come alongside it afterwards.
Find a Property
Obviously, a business without somewhere to run it can’t be considered properly established. So, for that reason you will need to find a property which can match all of your needs. This can include the location: you will need somewhere that is close for transport purposes, has good amenities and will be somewhere people want to work. You also need to consider whether or not the
To do so, you may need the help of a commercial property management company to help with issues outside of your remit; like the compulsory purchase process. Issues like that can stall or put a wrench in the works for your new business, so it is better to have someone in place to deal with said issue rather than face it unprepared.
Hire Your Staff
The final step to establishing a tech startup is to finally hire your first staff members. From technicians and developers, the bread and butter of your tech offering, to support staff like office admin; you will need at least one of each in order to get officially started. A business owner may wear many hats, but too many can quickly break your back and so it is vital to avoid this scenario.
At the very least, you need to hire a like minded individual who can help you get the business off the ground and an accountant. No matter how much we think we can handle it, not everyone is very good at understanding taxes, insurance and the like. Get someone else in to do all the math for you and forgot the headache.
Starting a business is not altogether a difficult endeavour. Any number of businesses are started every month, up and down the country, so that in itself is not unusual. Being a successful business however can be a whole different kettle of fish. So, get the basics as outlined above sorted and you should be in the running for a much more successful shot at business than before.