Get the structure and responsibilities clear

Discuss the appropriate business structure, ownership, management and contracts with qualified advisers. Ask what registration, tax, employment and sector-specific requirements apply to the proposed activity.

Where several people are involved, record contributions, authority, decision making and arrangements if someone leaves. A personal understanding should not be the only record of a business partnership.

Do not let the premises dictate an untested plan

Establish the customer need and operating budget before committing to a property. Include deposit or purchase costs, professional fees, alterations, equipment and a period before expected income.

Ask how the contract should deal with permissions, satisfactory checks and any conditions necessary for opening. A business registration does not automatically settle the suitability or permitted use of a building.

Use current requirements and costs

Registration procedures, fees and timelines should be confirmed for the proposed entity and activity. This page does not repeat old fixed-day processing promises or treat historic legislation as a complete guide to current obligations.

For investment support and official information, consult GIEPA. For the legal setup and contracts, approach Solie Law Chambers with a clear description of the business and people involved.

Prepare a useful first brief

• The proposed activity, customers and operating location.
• Who would own, manage and fund the business.
• Whether premises have been identified and any proposed commitment.
• Nationality and residence where relevant to the setup.
• Target opening date and any deadline for a lease or purchase.