setting up a business uk – MARKETING IN MINUTES VLOG

Your new business will FAIL if you do not do this! Starting a new business is easy, but your business will struggle to grow without a recurring revenue model. With 9 out of 10 new businesses failing in the first 10 years and approximately 50% of businesses failing in the first 5 years, it is vital you watch this video before starting a small business.If you are setting up a new business you must ensure that recurring revenue is a key part of your business plan. A lot of people often spend time researching how to start a business, however, very few resources highlight the importance of recurring revenue.When people become self-employed and set up a Ltd company, they often focus on marketing and sales. Unfortunately, many of these sales will be one-off payments instead of recurring revenue streams.Most businesses have the potential to generate repeat income so make sure you take some time to think about how your business could do this.If you are looking for recurring revenue business ideas, I would recommend subscribing to the channel as I often talk about my passive income businesses.Does your business focus on recurring income streams? Let me know in the comments below!

If you a starting a new business in the UK, either as a Ltd company or sole trader, then you need to be aware of this before you quit your job!People are often so focused on how to start a business that they don’t realise the potential impact it can have on their ability to get credit.Becoming self-employed makes it a lot more difficult to get a mortgage or remortgage as lenders treat self-employed borrowers differently than employees.Employees are often able to get a mortgage with only 3 months of payslips, whereas self-employed applicants often need to provide 2 to 3 years of earnings history.Self employed mortgages are available in the UK but the requirements are a lot stricter than they used to be before the global financial crisis.It doesn’t matter if you are a sole trader or a director of a Ltd company, the mortgage provider will still class you as self employed.Have you had any issues getting a mortgage as a self employed applicant? Let me know in the comments below!