Steps to Open a Business in London
Steps to Open a Business in London

London is the largest metropolitan city in the United Kingdom and is home to major business and financial intuitions from around the world. The city has a diverse population of over seven million people of various nationalities and backgrounds. The number of people and the diversity makes the city a profitable location to start a business.

Opening business in London requires compliance from the necessary government institutions, just like any other location in the UK. Fortunately, the process to open a business in London is relatively straightforward. Draw up a business plan and decide the legal structure of your business, such as a limited liability company.

Choose an appropriate and unique name for your business. Since there are many businesses in London, you will need to find a unique name that is not already taken. Contact HM Revenue and Customs to make sure the name is not in use. Rent or buy the property that you need to operate from. Hire a local real estate agent who specializes n commercial property to help expedite the process. Open a business account with a local bank, then contact Inland Revenue to register your business.

Registering your business must be done within three months of the start of operations. Acquire insurance because it is compulsory for every business operating with the city limits. Display the proof of insurance prominently after receiving it.

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