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Frequently asked questions.

  • How do you start a business?

    The first step to launching your business is figuring out which niche you want to fill. Once you’ve done your research and got that down, you’ll use it as the basis to write a business plan and secure financing. Next, you’ll need to decide on a business structure, get all your paperwork in order and settle on a location (whether the real world, online or both).

    When everything’s in place and you’re ready to start trading, you’ll need to be able to take payments from your customers. Securely accept chip and pin or contactless card payments with Square’s card reader.

  • What type of business insurance will I need to take out?

    This will depend on your business. A few key ones are public liability insurance if you have customers on-site, professional indemnity insurance to protect you against claims for loss or damage made by clients, and employer’s liability insurance, which you’re legally required to take out in the UK if you have employees.

  • What legal requirements do I need to meet to hire staff for my business?

    UK employment laws vary depending on the type of business you’re running, so it’s best to consult an expert. However, it’s a legal requirement to have an employment contract in place for each member of staff, no matter what industry you’re in. This contract typically outlines pay, holiday, working hours, benefits and notice periods.

  • How do you choose a business structure?

    There are several different ways you could choose to structure your business, each with their own legal and tax implications. It’s worth speaking to a lawyer and accountant to get advice on which structure would be best suited to your particular business. In the UK, the main types of business structures are sole traders, partnerships, limited companies and nonprofits.

Information at any stage.

Previous stage: Research your business

The key to a successful business is in its research and preparation. From writing a business plan to tips on raising capital, Square has the resources and tips for you.

Next stage: Managing your business

Once your business is actually open, learn how to manage its everyday activities. Finance, operations, marketing – they’re all down to you. We give you the help and advice you need to get to grips with these.