Entrepreneurship & Starting a Business

About Course

Starting a business can be both an exciting and challenging journey. Our Entrepreneurship and Starting a Business course is designed to provide you with the essential knowledge and practical skills you need to turn your business idea into a successful reality.

This course will guide you through every stage of starting a business, from ideation to launching and growing your company. You’ll learn how to identify viable business opportunities, create a solid business plan, and understand the financial and legal aspects of entrepreneurship. We’ll explore strategies for branding, marketing, and sales to ensure you reach the right audience and build a strong customer base.

With real-world case studies and hands-on exercises, you’ll gain insights into common startup challenges and learn how to overcome obstacles, manage risk, and stay resilient as you grow your business. Whether you’re aiming to build a small local business or scale your startup into something larger, this course will equip you with the tools and mindset to succeed.

By the end of this course, you’ll have a clear roadmap for starting and running your business, along with the confidence and strategies to make it thrive in today’s competitive marketplace.

Course Content

Understanding Sole Traders – The One-Man Band Journey
In this module, we'll dive deep into the life of a Sole Trader. We’ll explore the pros and cons of being a sole trader, using real-life examples to illustrate how they operate. You’ll also learn about the challenges they face, from tax deadlines to financing struggles. By the end of this module, you’ll have a clearer understanding of whether this business structure is right for you.

Lesson 1: What is a Sole Trader?

00:00
Legal Responsibilities of a Sole Trader

00:00
Comparison Between a Sole Trader and a Limited Company

00:00
Examples of Businesses Commonly Run as Sole Traders

00:00
Tax Responsibilities of a Sole Trader

00:00
Final Overview

Lesson 2: Types of Sole Traders – Real-Life Examples
Let’s look at three different sole traders and how their businesses operate:

Lesson 3: Pros and Cons of Being a Sole Trader
Now that we’ve looked at real-world examples, let’s break down the general pros and cons of being a sole trader.

Lesson 4: The Tax Process for Sole Traders

Lesson 5: When to Hire an Accountant vs Doing It Yourself
Many sole traders feel the need to hire an accountant for tax purposes, but with today’s software tools, it’s easier than ever to manage your own taxes.

About Course

Course Content

Lesson 1: What is a Sole Trader?

Legal Responsibilities of a Sole Trader

Comparison Between a Sole Trader and a Limited Company

Examples of Businesses Commonly Run as Sole Traders

Tax Responsibilities of a Sole Trader

Final Overview

Lesson 2: Types of Sole Traders – Real-Life Examples Let’s look at three different sole traders and how their businesses operate:

Case Study 1: Sarah’s Journey to Becoming a Sole Trader

Case Study 2: James’ Journey to Becoming a Sole Trader Electrician

Case Study 3: James’ Journey to Becoming a Personal Trainer

Lesson 3: Pros and Cons of Being a Sole Trader Now that we’ve looked at real-world examples, let’s break down the general pros and cons of being a sole trader.

Lesson 3: Pros of Being a Sole Trader

Cons of Being a Sole Trader

Lesson 4: The Tax Process for Sole Traders

Sole Trader Tax Year

Key Points about Sole Trader Taxes

Tools for Managing Taxes

Lesson 5: When to Hire an Accountant vs Doing It Yourself Many sole traders feel the need to hire an accountant for tax purposes, but with today’s software tools, it’s easier than ever to manage your own taxes.

Pros of Hiring an Accountant

Pros of Using Software

Lesson 6: Decision-Making as a Sole Trader

Benefits of being a sole trader

Is Being a Sole Trader Right for You?

The pros and cons of being a sole trader

Tax as a Sole Trader

How Tax is Paid as a Sole Trader

Sole Trader and VAT

The Story of Three Sole Traders and Their Taxes

Sarah the Hairdresser

Sarah and Her Taxes

Sarah and VAT (Value Added Tax)

Tom the Electrician

Lisa the Personal Trainer

How Tax Works for These Sole Traders

The VAT Thing

Conclusion

Transitioning to a Limited Company

The Big Growth – Becoming a Limited Company

The Decision to Go Limited

Registering at Companies House

How They Pay Themselves Now

VAT – The New Responsibility

The Benefits and Challenges of Being a Limited Company

Conclusion

Scenario Breakdown: Different Business Structures

The Unexpected Twists – Different Business Scenarios

Sarah Invests Her Own Money

Tom Borrows from the Bank

Lisa Starts with No Investment

Comparing the Three Approaches

Lessons from Their Stories

Shareholders and Dividends

The End of the Tax Year – Shareholders & Dividends

Sarah’s Story – The Investor Shareholder

Tom’s Story – The Family Shareholder Who Works in the Business

Lisa’s Story – The Solo Director with No Shareholders

Comparing the Three Approaches

Employees vs Director

Growth, Employees & the Director’s Role

Sarah’s Story – Profitable Business with Employees

Tom’s Story – Breaking Even but Growing

Lisa’s Story – Living Well Through Business Expenses

Key Takeaways: Employees vs. Directors

Comparing the Three Approaches

Who Had the Best Strategy?

Understanding Business Expenses

Comparing Business Expenses – A Conversation Over Coffee

Sarah’s Expenses – Running a Profitable Business with Employees

Tom’s Expenses – Breaking Even but Struggling with Taxes

Lisa’s Expenses – Living Through the Business

Comparing the Three Approaches

Key Takeaways from Their Conversation

Summary of Key Points

Understanding VAT, Sole Traders, and Limited Companies – A Business Story

The Sole Trader’s Perspective

The Hairdresser’s VAT Struggle (B2C Business)

The Property Renovator’s VAT Advantage (B2B Business)

The Difference in Profitability

Lesson 2: Types of Sole Traders – Real-Life Examples
Let’s look at three different sole traders and how their businesses operate:

Lesson 3: Pros and Cons of Being a Sole Trader
Now that we’ve looked at real-world examples, let’s break down the general pros and cons of being a sole trader.

Lesson 5: When to Hire an Accountant vs Doing It Yourself
Many sole traders feel the need to hire an accountant for tax purposes, but with today’s software tools, it’s easier than ever to manage your own taxes.