Raising a startup from the ground up is a complex task. It involves a plethora of problems that need to be addressed from the get-go. Just to begin with, one needs business licenses, filing for incorporation, financial planning, devising policies and procedures, and finally, implementing systems and tracking expenses. 

 Once the startup is on its feet, it needs continual management of bookkeeping, payroll, tax preparation, compliance with various government bodies, preparation for taxes, and financial statements. 

Additionally, when growth periods come, one needs reports on pricing, cash flow, budgeting, and forecasts, along with audit support and preparation. 

Small business startups 

Small business startups have small teams and are generally content with their size as they sell their products and services. While they are interested in growth, they grow at their own pace, which is gradual in most cases. Such startups are often bootstrapped or self-funded, meaning there’s less pressure to scale up or be beholden to the immediate needs of investors. 

Buyable Startups 

The concept here is to build a business with a small team at a low cost and then sell it to a larger entity. These startups are very common in Technology and Software industries. 

Scalable Startups 

These are based on the ‘Snowball Effect.’ Once a business has a marketable idea, they develop a small customer base; if it becomes popular, the founders raise capital from outside investors (e.g., angel investors, venture capitalists, business partners, friends, family, etc.). With the addition of new capital, they can support growth initiatives to score more customers and eventually grab the attention of larger enterprises willing to buy them out. 

Offshoot Startups 

These are businesses that have branched off from larger corporations to become distinct entities. For example, a bigger company might establish an offshoot company to enter a new market or disrupt smaller competitors. These startups act independently of their parent companies and have the freedom to do business and experiment without drawing as much attention or scrutiny. 

Social Startups 

Some startups are specifically designed to do good in society. Social startups, which include charities and non-profit organizations, scale up for the sake of philanthropy. They operate similarly to any other startup but do so with the help of grants and donations. 

Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our corporate headquarters in Putney, London, provide practical and efficient solutions to all your accounting needs. 

Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations. 

To raise money for your startup in the UK, consider the following options: 

1. Angel Investors: Seek investment from individuals willing to fund promising startups. 
2. Venture Capital: Approach venture capital firms for larger funding amounts in exchange for equity. 
3. Crowdfunding: Utilize online platforms to raise smaller amounts from a large number of people. 
4. Government Grants: Check if your startup qualifies for any government-backed grants or incentives. 

You can obtain them from various sources like banks, credit unions, or alternative lenders. Make sure to meet their eligibility criteria and provide a well-thought-out business plan to increase your chances of approval.