Starting Up

Congratulations! You’re thinking of starting a business in Jersey which is the first step in turning a good idea into a commercial opportunity.

Setting up a business in Jersey is both exciting and daunting but careful research and planning will give you a clear idea of how successful your new venture is likely to be. Here are your 7 steps to the Start-Up Journey:

  1. Have the idea
    • Write down your idea so you can explain it to others.
    • Think about your motivation for starting a business and what success will look like for you.
    • Be realistic about whether you have the time and skills to deliver your idea.
    • Consider who will buy your product or service and why they would buy it from you.

  1. Check the feasibility of your idea
    • Will this be your main income or is it just a hobby? Do a personal budget so you know how much income you need from it.
    • Create a picture/plan of who your customers are, how your business will operate, potential costs and income streams.
    • Get feedback on your idea from people who have relevant experience and can give you a variety of views.
    • Decide if your idea could succeed as a profitable business and if yes, push ahead.
    • Attend our practical Workshop to Plan your Business.

  1. Find advice and support

  1. Plan it properly
    • Develop a plan to put your idea into practice, thinking about what you need to do and in what order.
    • Research your market and potential customers and decide how you will sell your product or service to them.
    • Think about the practicalities of how you will operate – how, when, where and what you will need.
    • Create a realistic financial forecast so you know what your income will be and how much it will cost you to operate.
    • If you need money to start your business, go out and start pitching for it now.
    • Seek advice and support from one of our Business Advisors
    • Attend:
      1. Workshop to Plan your Business
      2. Finance workshop

  1. Get the formalities in place
    • Consider what legal structure would be most appropriate to start up your business.
    • Get your business properly set up and registered so that you are legally able to operate.
    • Get a business bank account.
    • If necessary, find appropriate premises to operate from and don’t over commit to them.
    • If you need them, recruit people with complimentary skills to yours and/or give them the training they need.
    • Set up your accounts so you can track how much money you are getting and spending.
    • Attend:
      1. Finance Workshop
      2. Incorporation Workshop
      3. GDPR/Data Protection Workshop

  1. Start trading!
    • Think about how will you launch your business.
    • Make sure that your systems and processes are in place so you can invoice clients or take payments from day one.
    • When you have everything in place just get going!

  1. Ongoing support
    • Keep in touch with Jersey Business so you can continue to get free, independent and confidential business advice.

More advice and help

Guides

Case Studies

June was very helpful, very positive, really helped to steer everything in the right direction.

Dandy coffee shop starts operating in Jersey Read More