Thinking about starting your own business? Whether it's a side hustle in Sevenoaks, a coffee shop in Canterbury, or a tech startup in Tunbridge Wells, launching a new venture is exciting—but also a little daunting.
At Soldi Partners, we work with start-ups and small businesses across Kent to help them build strong financial foundations. So, we’ve put together this simple checklist to guide you through the early stages of bringing your business idea to life.
New Business Start-Up Checklist
1. Define Your Business Idea
What product or service are you offering?
Who is your target market?
What problem are you solving?
Tip: A simple one-page business plan is a great place to start.
2. Choose the Right Business Structure
Sole trader, partnership, or limited company?
Each has different legal and tax implications.
Need help deciding? We can walk you through the pros and cons based on your goals and circumstances.
3. Register Your Business
Register with HMRC (and Companies House, if going Limited)
Choose and register a business name
4. Set Up a Business Bank Account
Keep personal and business finances separate—it’ll make your life much easier when it comes to tax and bookkeeping.
5. Sort Out Your Finances
Estimate your start-up costs
Forecast your income and expenses
Set a pricing strategy
Create a simple cash flow plan
6. Register for Taxes
Depending on your structure and turnover, you may need to register for:
Self Assessment
Corporation Tax
VAT
PAYE (if hiring staff)
7. Choose Accounting Software
Cloud-based tools like Xero or QuickBooks make tracking income and expenses easy (and are compliant with the HMRC initiative “Making Tax Digital” which requires submissions to be made digitally).
We can recommend and set up the right system for you.
8. Understand Your Legal Responsibilities
Do you need insurance (e.g. public liability, professional indemnity)?
Are there any licenses, permits or regulations in your sector?
What about GDPR and data protection?
9. Keep Good Records
Maintain accurate financial records from day one
Keep receipts, invoices, and contracts organised
Schedule regular time to review your finances
10. Get Professional Support
Starting a business is much easier when you’ve got the right people in your corner. An accountant can help you:
Save time
Avoid costly mistakes
Stay compliant with tax laws
Grow with confidence
Need Help Starting a Business in Kent?
We’re a small accountancy firm that loves helping local entrepreneurs turn ideas into real businesses. If you're starting something new in Kent, get in touch—we’ll help you get set up the right way.
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