Updated in May, 2026
Want to start a business? You’re not alone. Nearly 660,000 businesses were launched in the UK in 2016, according to the Centre for Entrepreneurs, up from 608,000 in the previous year – and it appears there’s no sign of those figures slowing down in the future. If your specific plan involves creating a consulting business or another type of service business, now is a great time to explore how to choose a solid business structure and develop a competitive advantage in your field.
If you’re looking for advice on starting a new business, you’ve come to the right place. Struggling to come up with new business ideas, want help with business plan templates so you can get your idea out of your head and documented on paper (or your computer), or need tips on how to start a new business? Read on to discover what you need to do. Gaining expert insights can help you start consulting or any other professional services venture productively. Be prepared to ask yourself questions starting consulting if you wish to build a sustainable and profitable enterprise.
Planning for a new business is one of the most important stages if you want to succeed – but don’t procrastinate. Take your business idea to market, test it, and iterate it if necessary as that’s a great way to see if people are interested in what you are selling to them. This is particularly true if you plan to develop a consulting practice, where business development relies on demonstrating experience expertise and effective consulting proposition design.
So, whether you’re starting your business because of a personal passion, a gap in the market, or simply because you want to work for yourself, get ready to take the first steps towards making it a reality. Read on for some useful advice as you begin your exciting journey of starting and running your own business. You can also view expert insights on how to set your hourly rate and determine if based pricing is the right model for your brand business.
Starting a new business
Ready to start your new business? Before you dive in, it’s worth getting your ducks in a row first. By doing that, you will give your business a fighting chance of succeeding. When starting a new business, you’ll need to register with HMRC – most companies set up as a sole trader, partnership, or limited company. However, for a consulting business start, you might consider forming a limited liability company if you want a degree of personal protection and credibility when engaging with potential clients.
Choose a name for your business – but check with Companies House and on Google to see if it’s still available. Once that’s done, buy the website domain name for your company. It’s often wise for business owners to go through this process promptly, especially if you anticipate competitive demand for your chosen name.
You’ll need to put a system in place so you can manage your cash flow, costs, and tax payments once you start trading. Using accounting software can help your business to stay in check and keep you on top of your finances. It’s also worth finding an accountant, who will help you stay on top of your tax requirements, limited liability filings, and other financial elements, including tax accounting considerations if you plan to expand your consulting services.
If raising finance is a requirement for your business – or even if it isn’t – you’ll need to create a business plan. This living document will help you with your planning and keep your business focused as you work to build it (more on that below). For many consulting firms, a robust business plan can guide your consulting proposition design and outline how clients pay for your services, whether that’s an hourly rate or other based pricing model.
Need help to start a business? To cover all the necessary areas, read the tips in this article on starting your own business. If you plan to start consulting specifically, consider how you’ll build trust with your potential clients by clarifying your consulting business structure, your elevator pitch, and your sales cycles.
Speaking to experts can be beneficial when you’re starting a business
Expert advice on planning a business
Working with experts when planning a business can help you to get off on the right footing. As previously highlighted, an accountant can assist you with your tax affairs and a bookkeeper can help you manage your books, leaving you to focus on building and growing your business. This can be especially useful if you are looking to start consulting and offer professional financial services or other consulting services.
When deciding on the right legal structure for your business, it’s worth seeking advice from a solicitor or an accountant. For some businesses, it might be a straightforward option. However, consulting businesses or other professional service businesses may require more nuanced approaches that accommodate a limited liability company framework, especially if you want to attract corporate or high-profile clients.
However, if you have plans on trading in numerous countries, you will have international tax and legal issues to consider, therefore making things more complex. Don’t rush into making a decision – do your research, seek advice, then put your plans into play. Consulting firms that serve diverse regions often examine how this global reach supports sustainable growth while maintaining a competitive advantage.
Expert advice can also come in the form of getting help when it comes to creating important documents such as a business plan – see below for more details on why having one can really help your business. If you choose consulting business strategies carefully, you can refine how you market your expertise and how you manage your clients.
New business ideas
Finding the perfect idea can be a tricky affair. For some people, it can be as simple as turning a passion, hobby, or skill set – such as fitness, baking, or designing websites – into a business idea. For others, though, the desire might be there to create a business but pinning down an idea is a bit harder. This is important when starting a consulting business, as you’ll need to determine your niche and ideal client based on your area of experience expertise.
One way to come up with a business idea is to study growing trends. Assess current business trends, read industry-specific research, talk to friends and family, see what’s happening in the news, and speak to people working in the industry you want to start up in. If you plan to start consulting, these conversations will help you discover which consulting services are in highest demand. This can guide consulting proposition planning and help you choose consulting business strategies that resonate with prospective clients.
For your business to flourish, you’ll need to come up with an idea that solves a problem, has a unique selling point and is something people are willing to pay for – without that, your company won’t last very long. And remember, a great business idea isn’t enough to succeed – you need to back it up with planning, application, dedication, and hard work. If you focus on service businesses such as consulting, consider how your clients pay. Do you want an hourly rate, project-based pricing, or a retainer? Clarifying these details can help attract potential clients.
For more on coming up with business ideas, read this article on studying growing trends. This can help you refine your guide consulting approach and confirm there is demand for your business start consulting concept.
Creating a business plan means you can set strategic goals for your company
How to write a great business plan
If you want to give your business a fighting chance of succeeding, it helps to have a business plan in place. By creating a business plan, you will have a practical framework that will guide your hard work, enthusiasm, and skills, and keep you focused. In the context of consulting, a well-thought-out business plan helps define your consulting practice’s mission, how you’ll handle business development, and whether you’ll adopt specific models like based pricing.
You will use the document to map out your company’s strategic goals, strengths and weaknesses, purpose, and unique selling point. It will also help you to achieve clarity of the market you want to sell to and the companies you will be competing against. For consulting businesses, it’s equally important to outline sales cycles, marketing tactics, and how you can achieve a competitive advantage through your experience expertise.
By using your business plan to create milestones for your company, you can set targets that will keep you moving as your bid to build and grow your firm. In a wide range of consulting services, building trust with your audience is paramount, so include strategies on how to position your brand business effectively.
Another tool that can assist you is a Business Model Canvas – a one-page business plan that can help your company simplify its planning in a way that is highly visual. For consulting businesses, this canvas might include sections on software solutions or other resources that ensure a smooth client experience.
Need help writing a business plan? Follow the tips in this article on creating business plans to develop a document that will help you to stay on top of things. If you are positioning yourself as an ultimate guide consulting resource, an effective business plan can make it easier to communicate your value proposition to potential clients and guide your consulting proposition design.
Business plans for different business types
Want to create a business plan for your company but need something that’s tailored to your target market? We’ve created a series of industry-specific business plans that will help and save you time.
Food and drink businesses
Got designs on opening a restaurant, running a coffee shop, starting a food truck, or selling your products in a supermarket? The food and drink industry is a competitive one, so having your planning in place will help. Check out this business plan template for food and drink companies. Even if you’re not in consulting, planning can help turn ideas into viable service businesses.
Online and ecommerce businesses
Planning on selling goods online? It’s tempting to dive right in as you don’t have to worry about purchasing commercial real estate – but you still have to consider how you’ll deliver your products and services to your customers. Then you must determine how you’ll be selling your goods, how you’ll market your business, and what your online shop front will look like – ie, your website. This business plan template for online retail and ecommerce businesses will help to you plan all of those elements. If you’re offering consulting services online, it’s still essential to clarify how clients pay and how you’ll structure your service packages.
Shops and retail businesses
Do you have ambitions of owning your own shop – a proper bricks-and-mortar option? Owning a physical space to sell your goods will have its challenges, notably property purchase or rental costs and finding the right location, among other things, so it’s in your best interest to be prepared. By using a business plan for shops and retail companies, you will put your company in good stead. Even if you primarily serve as a consultant for retail, having a detailed plan can serve as a reference to your potential clients.
Professional services businesses
So, you’ve worked for a design agency for years and you’re ready to go it alone? Perhaps you want to open your own cleaning business or maybe you want to run your own consulting firm. No matter what type of professional services company you want to run, it will help to have a tailored business plan that will get you planning quickly. Use this business plan template for professional services and bring your business idea to life. If you intend to start consulting business operations, carefully consider your model for setting an hourly rate or alternative based pricing, what your consulting business program will look like, and how to handle client contracts and deliverables.
Ready to start a business?
There are lots of steps to take when starting your business but by taking your time and putting the right planning in place, you will make things easier. If you’re focusing on a consulting business start, remember to refine your sales cycles, elevator pitch, and how you’ll identify your ideal client.
Remember, take advantage of expert advice when you need it, think about how you can meet the needs of your customers and clients with your products and services. And don’t forget about your finances – make sure you keep on top of your cash flow if you want your business to succeed. Whether it’s a consulting practice targeting financial services or a technology firm offering software solutions, proper planning is vital to achieve sustainable growth.
