TL;DR: Starting a business involves more than registering a name — taxes, insurance, banking, and compliance all need to be set up correctly from day one.
Most people who start a business focus on the exciting parts: the product, the brand, the first clients. The administrative and legal foundation — registering the business, setting up tax accounts, getting the right insurance — often gets treated as an afterthought.
This is a mistake. Getting the administrative foundation right from the start saves significant time and money later. It also protects you legally and financially and builds the credibility that larger clients, banks, and investors expect.
This checklist covers the essential steps that every first-time founder needs to complete before trading. It is structured around the phases of business formation: pre-start decisions, registration, financial setup, legal foundations, and operational readiness. Country-specific notes are included for the UK, France, Sweden, Australia, New Zealand, Canada, and the United States.
Choose your business structure. Decide whether you will operate as a sole trader, partnership, or registered company. This affects your tax position, liability exposure, and paperwork obligations. If you are unsure, read our guide on choosing a business structure or consult a qualified accountant.
Choose your business name. Check that your preferred name is available as a company name (if incorporating), as a domain name, and as social media handles. Trade mark searches are also wise if your brand is a core asset.
Decide on your registered address. In most countries, companies must have a registered address — the official address for legal and regulatory correspondence. This can be your home address, a business address, or a commercial registered address service.
Understand your tax obligations. Find out which taxes apply to your business from day one — income tax, corporate tax, VAT or GST (if applicable), payroll taxes (if you plan to hire staff immediately), and any industry-specific levies.
Register your business structure:
Register for tax:
Obtain any required licences or permits. Depending on your industry, you may need local authority licences, industry-specific permits, professional registrations, or health and safety certifications. Check with your local authority and industry regulator.
Open a dedicated business bank account. Even sole traders benefit from a separate account. Companies in most jurisdictions are effectively required to have one.
Set up an accounting system. At minimum, keep a spreadsheet of income and expenses. Better, use cloud accounting software (Xero, QuickBooks, FreeAgent, etc.) from day one. Starting with proper records is far cheaper than reconstructing them later.
Understand your invoicing requirements. Most countries require invoices to contain specific information — your name or company name, address, tax registration number, invoice number, payment terms, VAT/GST amounts if applicable. Set up your invoicing template correctly.
Set aside money for tax. From the first payment you receive, set aside a percentage for tax. A rough guide: 25-35% in most countries. This money should go into a separate savings account and not be spent. Unexpected tax bills are one of the most common causes of early business failure.
Prepare your standard client contract. Every client engagement should be covered by a written agreement. At minimum it should cover scope of work, payment terms, intellectual property ownership, dispute resolution, and limitations of liability. Consult a qualified solicitor to draft or review your contract.
Get appropriate insurance. At minimum consider:
Set up your privacy and data practices. If you collect personal data from clients, customers, or employees, you have obligations under GDPR (UK/EU), the Privacy Act (Australia), PIPEDA (Canada), or applicable US privacy laws. At minimum, have a privacy policy and understand what data you hold and why.
Set up your email and communications. Use a professional email address (name@yourdomain.com), not a personal Gmail or Hotmail address. This signals credibility to clients and keeps business communications separate.
Establish your billing and payment process. Decide how clients will pay you: bank transfer, credit card, payment platform. Set up the necessary accounts and payment links.
Create a simple business plan or financial projection. Even a one-page plan helps you track whether the business is performing as expected and gives you something to show banks or investors if needed.
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Try it free →| Step | UK | France | Sweden | Australia | NZ | Canada | USA |
|---|---|---|---|---|---|---|---|
| Business registration | Companies House / HMRC | Guichet Entreprises | Bolagsverket | ASIC / ABR | Companies Office / IRD | Corporations Canada / provincial | State SoS / IRS |
| VAT/GST threshold | £90,000 | €36,800 (services) | SEK 80,000 | A$75,000 | NZ$60,000 | CA$30,000 | No federal GST; state sales tax varies |
| Register as employer | When first employee hired | When first employee hired | When first employee hired | When first employee hired | When first employee hired | When first employee hired | When first employee hired |
| Key gov resource | https://www.gov.uk/set-up-business | https://www.guichet-entreprises.fr | https://bolagsverket.se | https://business.gov.au | https://www.business.govt.nz | https://www.canada.ca/en/services/business/start.html | https://www.sba.gov/business-guide/launch-your-business |
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MmowW Scrib🐮 is a document preparation service, not a law firm. We do not provide legal advice. Always consult a qualified solicitor or attorney for legal guidance.
Q: How long does it take to set up a business?
The registration itself can take as little as 24 hours (for online company registration in the UK and New Zealand) or as long as 2–4 weeks (for some countries with more manual processes). However, the full setup — banking, insurance, accounting, contracts — typically takes 2–6 weeks to complete properly.
Q: Do I need a business plan to register?
No. A business plan is not required for registration in any of the seven countries covered. However, you will need one if you apply for a business bank account (most banks require it), a business loan, or any form of external investment.
Q: What if I am not sure what licences I need?
Your local government's business start-up portal is the best first stop. In the UK, use the government's licence finder at https://www.gov.uk/licence-finder. In Australia, use the Australian Business Licence and Information Service at https://ablis.business.gov.au/. In the USA, check with your state and local government portals.
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