Having started your electronics business by doing a bit of trading on Ebay, you now want to be legitimate. In the last post, we discussed raising finance and the aversion of the banks to startups, electronics and risk (except complex financial instruments they don’t understand of course). Having raised money somehow, what other obstacles will the UK government and its bureaucratic allies in Brussels put in your way?
You have had this great idea for a new widget, or can see a gap in the market for an imported product, so how easy is it to set up a new electronics business in the UK? To test the water, you could just make some in your shed or import a few shipments and sell them on Ebay, (although HM Customs and Revenue are now data mining online to try and catch informal business and get more money!) but how easy is it to then create a formal business?