Plan your business from idea to launch

Evidence that customers will pay: test your idea with people in your target market, ideally by selling them a simple first version. A break-even figure and a cash flow forecast: work them out from your start-up costs, prices and expected sales. A business plan: write it yourself, basing each figure on evidence such as supplier quotes, competitor prices or early sales. A business structure: choose sole trader, partnership, limited company or limited liability partnership. An accountant can tell you how each is taxed. A name you can use: if you form a company, check the Companies House register for the same name, and search the trade mark register at the Intellectual Property Office. If you form a limited company: register it with Companies House. Registering online costs £100; by post it costs £124 and takes 8 to 10 days. If you are a sole trader or partner: register for Self Assessment with HMRC by 5 October after the end of the tax year in which you started. If you run a limited company: add Corporation Tax to your HMRC business tax account when the company starts to do business. If your taxable turnover goes over £90,000 in a 12-month period, or you expect it to in the next 30 days: register for VAT with HMRC. Any licence your activity needs: use the licence finder on GOV.UK, which tells you who issues each one. If you employ anyone: employers' liability insurance of at least £5 million from an authorised insurer, unless you employ only family members.