Start a business

Name of the game

Q. I’m looking to start an independent stationary shop as a sole trader but don't want to use a business name that already exists. Are there any restrictions on business names and how can I make sure I am not copying an existing one?


Taking on a non exec

Q. I've been running a business with two other business partners for the past 18 months and we're keen to get my former employer on board as a non-executive director. What's the formal procedure for doing this?


Route to market

Q. I have designed and developed a prototype for a product I feel is extremely marketable and consumer friendly. However, I’m a bit stumped as to where to go from here. Who should I be approaching with regards to getting the product licensed and finding a route to market?


Friendly proposition

Q. I’ve been working on a business plan for a new venture for about 9 months and asked a friend for advice on it. He’s now quite keen to come on board with the venture and I think his experience could be really useful. However, I don’t want him to be a co-founder. How can I spell this out to him and what steps can I take to make sure I keep control in the long-term?


Brand appeal

Q. My company is losing market share and we’ve looked the same for the last four years. How can I inject some freshness, get a new brand and find the right designer for the job?


Loans vs investment

Q. I need to raise £20,000 to get my business off the ground and have been advised to go down the bank loan route as opposed to giving up equity. Is it better to stick with loans for relatively low amounts of investment, or would an angel or private equity firm have more to offer?


Investor friends

Q. I am starting a business and a friend is willing to invest some money but is not going to give up his day job - how do I formalise this legally and what are the issues I need to think about?








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How they Started

Starting Your Own Business

Essential new book from David Lester, founder, startups.co.uk