Setting up your own business can be daunting, any potential business idea warrants a period of careful thought with thorough research and planning.

There are many things to consider, such as business structure, working from home, finding new premises, budgeting, and paying tax.

There are also different kinds of self-employed set ups, such as Sole Traders, Partnerships, Private Limited Companies, Limited Partnerships and Limited Liability partnerships (LLP).  

Below is a checklist of matters to start considering in the initial stages:

• Concept
• Company Name 
• Business Plan
• Finance
• Legal Forms
• Registration
• Insurance
• Administration

Whichever path you decide on there is plenty of help and support available if you choose to become self employed.  

Find detailed information on starting a business at GOV.UK.