The Critical Fundamentals to Cover When Setting Up a Business

Business Insights

Getting a business up and running is becoming easier as time goes by. The internet has played a major role in that, simplifying the process to a great extent. Still, there are many fundamental aspects that have to be covered carefully if you want to maximise your chances of success and reduce the headaches you’ll have to deal with as a whole. A bit of advance planning can often go a long way. And as with most things, there are some aspects of running your business where cutting corners is very dangerous.

Office – Yes or No?

Not every company needs a physical office. In fact, in some cases it’s quite inefficient to set one up from the very beginning. You should think carefully about how much space you’re going to need, and whether you can’t do the majority of your work from home.

Sometimes you’ll come to the realisation that there’s practically no need for setting up any extra physical space in the first few months of your company’s operation. And in some cases, you may even be able to continue operating in this manner for quite a long time.

Legal and Accounting Representation

No matter what kind of company you’re running, you’re going to need legal and accounting representation to ensure that things are done right on every level. One small misstep in this regard can cost you dearly, and it’s not rare to hear about companies going completely under as a result of making the wrong decisions in this area.

A good attorney and accountant are going to cost you a bit, but they are also going to save you from some even greater expenses down the road. Plus, they might also be able to give you various tips on how you can save some money in your operations.

Insurance and Other Liability Issues

Insurance is another hot topic that many beginner entrepreneurs tend to ignore until it’s too late. Which, needless to say, is a major mistake which can also cost you quite a lot after just one wrong step. It also doesn’t cost that much to set things up in the beginning, so it really doesn’t make a lot of sense to keep postponing this until it’s too late.

It doesn’t matter if you need liability insurance, fleet insurance, or a more specialised policy suitable for your specific type of business. There will always be an insurance company out there that can give you a good deal on what you need. It’s up to you to reach out and explore those offers in the first place though.

A good place to start would be a comparison site like, where you can compare quotes for almost any kind of business insurance, from fleet insurance to courier insurance to public liability cover.


You’re going to need to begin promoting your company as early as possible as well. This is not something that you can do later on, as the more you delay it, the more it’s going to cost you. No marketing company can just come up with a comprehensive campaign that covers an entire established business quickly and/or cheaply.

On the other hand, if you’ve been working with a marketing partner from the very beginning, they should already be aware of how your company works and what kind of marketing would be most appropriate for you. Every company requires a unique approach to its marketing, and it can take some time until you’ve reached the perfect formula. It’s important to give yourself enough time to experiment with all possible configurations.


And on the note of partnerships, you should take a long, hard look at the kinds of deals and services your company is going to need in the future, and establish those from early on. Because like with marketing, this is something that is only going to get more challenging the longer you wait. Established companies on any market carry their own weight, but this can sometimes impact them negatively when they are trying to set up new partnerships. You might find that others simply expect too much from you at this stage.

Plus, long-term relationships with other companies can have some great benefits such as better prices and other forms of preferential treatment. You’ll also know that those companies are reliable and can be counted on when things get tough for you, which will be very important later on as your company continues to grow.

Those are some of the basic points you’ll need to cover when setting up your company. As long as you make sure to take care of them early on, you should be able to have a relatively easy time running that business later on, at least as far as common problems go. And as soon as anything comes up, you’ll know exactly who to turn to for help. This will make a huge difference in your ability to deal with issues later on, and will be a major factor in the stability of your company.