Here is a link to our very useful guide – Employing People: The HR Toolkit for Small Businesses which you can download and save for future reference.
Your business plan should be continually updated as the business evolves.
You may need to share your business plan with potential investors, grant providers and business partners.
For more information read Paying Class 2 contributions if you’re setting up a business (Startup Plan) How do I pay my Income Tax?
You will need to submit profit or loss trading accounts with your income tax return each year.
Read this guidance on business insurance and speak with your insurance company to discuss your specific requirements and what premium you are likely to pay.
If you are thinking of buying or leasing commercial premises to operate your business from, before making any commitments, please take the time to read through our insightful property tool An Introduction to Jersey Commercial Property for Small Business Put your concept on paper Don’t put off making a start on your business plan, it will be much more helpful than you realise. Here is our Guide to writing a Business Plan and a Business Plan template to get you started. Help with business planning Guide to writing a Business Plan Guide to Preparing Financial Forecasts Business Plan template Setting up a limited company in Jersey Guidance on business insurance An Introduction to Jersey Commercial Property for Small Business New Business Licence Guidance Notes on licence application GST guidance for your business Jersey Office of the Information Commissioner-Your data protection obligations.
What licences do I need to set up as a Sole Trader or Partnership?
If you wish to set up as a Sole Trader (one person) or Partnership (two or more persons), to trade in Jersey, it is a legal requirement to apply for and obtain a New Business Licence which is issued by the Population Office. If you choose to trade under your own name, there is What other licences/registrations might I need to have in place?
Ask yourself: You, the entrepreneur, will be playing a developing role in this business.
And your role in the business will change over time.