Many people perceive the company formation process to be overly bureaucratic, expensive and time consuming. Among these people is leader of the opposition David Cameron, who said as much in his appearance on The Andrew Marr Show, a couple of weeks ago. However, as our company formation packages start from use £24.99 and we can form a company within three hours, they couldn’t be more wrong.
However, once your company is formed, that is when the hard work really starts, but who do most budding entrepreneurs look to for support? Their bank manager, accountant or even the government? According to a recent poll by the Forum of Small Businesses and Enterprise, most entrepreneurs rely on their friend and family for support and advice when they are starting their business.
Jane Palmero, owner of the Organic Kids Company, comments: ‘ My family and friends were invaluable throughout the whole process of starting my own company; right from giving ideas at the concept phase to actually manning the till once we had opened the store. I found the bank to be quite hostile and while there is a lot of information available from the government, in many cases it is not specific enough to be of any real help.”