Small businesses make up a large portion of the private sector in the United Kingdom, and SMEs particularly hold a vast majority of the business population in London. The eclectic scene and wide market make it attractive for those thinking of setting up shop here, and there are a few business laws that can be helpful to know when going through the processes of opening up.
You can take on business immigrants
Don’t be afraid of hiring diverse employees or even striking up a partnership with an investor who hails from a different country. Regulations need to be looked into if you plan on bringing in goods from another country. But if it’s all within the realm of employment and investments, you don’t need to worry about breaking any rules.
You may be concerned about any disputes that may arise, especially when it comes to acquiring permits and settling work visas. It would be good to reach out and learn more from London solicitors across firms that can be found across the city. This is also helpful if you’re handling persons from EU nations, as solicitors can help you with legislation and immigration and even protect your business from unjust accusations. They can also simply help you navigate the ins and outs of business immigration law so that you can rest easy and continue operations without having to limit yourself.
Small businesses can legally register as sole traders
Though you may initially think the only way to go about it is by registering your business as a limited company, you are well within you’re right to get registered as a sole trader. This goes beyond ideas of solo entrepreneurs who run the whole show on their own, as small businesses can be registered under this designation as well.
It’s a relatively simpler process. You may lean towards using this option, but it is important to note that you are not a separate entity from your business. Legally, you are being held with personal responsibility for the debts accrued by your company. It’s also wise to learn more about the specifications of registering as a sole trader.
You can operate out of home
There are so many different ways to set up a location, whether you choose a pop-up store, a stand or stall, or a brick-and-mortar space within a row of other stores. However, you’re also legally allowed to operate your small business out of a home. This is as long as your services or products are still compliant with local laws and you have the proper licenses.
This is a great option if you’re moving to London and want to start operations but haven’t found the perfect space that meets your requirements with the area, budget, and accessibility. It can be a convenient option that makes your brand feel more approachable to consumers. You can learn more from official resources or business law solicitors.
All of these things that may commonly be thought of as sketchy are within the realm of legality, especially if you read up and have the proper assistance to guide you along.