Starting a business can be daunting and confusing. This blog post will explain how to register your business (if you need to; more on that in a bit….) and trademark your business name/logo to stop others from copying it or using it. Please note that this is for businesses within the UK.
Here’s what you need to do:
Decide on what type of business you are starting. The most common are sole trader, limited company or partnership.
- Explanation of sole trader from the gov.uk website:
- “If you’re a sole trader, you run your own business as an individual and are self-employed.You can keep all your business’s profits after you’ve paid tax on them. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business.”
- Explanation of a limited company from the gov.uk website:
- “If you form a limited company, its finances are separate from your personal finances, but there are more reporting and management responsibilities.”
- Explanation of a partnership from the gov.uk website:
- “In a partnership, you and your partner (or partners) personally share responsibility for your business. This includes:
- any losses your business makes
- bills for things you buy for your business, like stock or equipment
Partners share the business’s profits, and each partner pays tax on their share.
A partner doesn’t have to be an actual person. For example, a limited company counts as a ‘legal person’ and can also be a partner.”
- “In a partnership, you and your partner (or partners) personally share responsibility for your business. This includes:
Register your business. If you’re a sole trader you don’t need to register. If your company is a limited company or partnership you will need to register your business with Companies House here: https://www.gov.uk/topic/company-registration-filing/starting-company
Trademark your business name and/or logo. This protects your brand name or/and logo from being copied or being used without your permission. It costs (prices correct at time of publishing) £170 to set up and then £50 per additional class or series. ‘Class’ is the category that your business comes under, either a type of product or a type of service. ‘Series’ are the different versions of your business name, for example ‘Pioneer Chicks’ and ‘pioneerchicks’. You can apply for your trademark here: https://www.gov.uk/how-to-register-a-trade-mark
It takes several weeks/months for the trademark to be processed and granted.
You’re now ready for business!
“Sometimes the smallest step in the right direction ends up being the biggest step of your life.” – The Curative Collaborative
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