Starting a New Business in the UK: Registration, Banking & Funding Growth

Starting a new business in the UK is an exciting journey filled with opportunities but it’s also one that requires careful planning and clear steps to set your foundation right. Whether you’re launching a tech startup, a construction firm, a retail shop, or a mobile service, following the correct setup process is essential for long-term success.

In this guide, we’ll walk you through how to:

1. Register your business with Companies House
2. Open a business bank account
3. Access business finance to fuel growth with Principal Business Finance Ltd

Step 1: Registering Your Business with Companies House

Before you start trading, you’ll need to officially register your business. This process gives you a legal identity and is a requirement for setting up as a limited company.

Here’s how to do it:

1. Choose your company name – Make sure it’s unique and compliant (check availability on the Companies House website).
2. Select your company structure – Most startups choose a private limited company (Ltd), but sole trader or partnership might also be suitable.
3. Prepare registration details – You’ll need an official address, director details, and shareholding information.
4. Register online at www.gov.uk/limited-company-formation or use a formation agent. The cost is typically £12 for online registration.

Once registered, you’ll receive a Certificate of Incorporation—your business’s legal birth certificate.

Step 2: Setting Up a Business Bank Account

After registering with Companies House, your next move is opening a dedicated business bank account. This keeps your finances separate and makes accounting easier and more professional.

Here’s what you’ll need:

• Certificate of Incorporation
• Business address
• Director’s ID and proof of address

Compare accounts to find the best features for your business:

• Low or no fees for startups
• Online banking and accounting integration
• Access to overdraft or credit facilities

Most major UK banks offer startup business accounts with incentives like free banking for 12–24 months.

Step 3: Fuelling Growth with Business Finance

Now that your business is registered and has a bank account, the next challenge is funding your growth.

Startups often struggle with cash flow, upfront investment, or equipment needs. That’s where working with a broker like Principal Business Finance Ltd can be a game-changer.

Types of Finance Available for New Businesses:

🔹 Startup Loans – Government-backed loans for early-stage businesses with mentoring support.

🔹 Asset Finance – Spread the cost of equipment, vehicles, or machinery to conserve cash flow.

🔹 Invoice Finance – For B2B startups, this unlocks cash tied up in unpaid invoices.

🔹 Working Capital Loans – Access short-term funding to cover running costs while you grow.

🔹 Merchant Cash Advance – Ideal for businesses with strong card sales, repay based on turnover.

Why Use Principal Business Finance?

✅ We understand startup challenges and know how to position your business for funding even with limited trading history.
✅ We work with a panel of UK lenders and can match you with the right solution fast.
✅ We provide tailored support, whether you’re buying your first van, launching a product, or expanding premises.

Final Thoughts

Starting a business is a major milestone, but it’s just the beginning. Registering with Companies House, setting up your bank account, and securing the right business finance lays the groundwork for long-term success.

At Principal Business Finance Ltd, we’re passionate about helping UK startups get off the ground and grow with confidence.

📞 Ready to start your journey? Get in touch to explore funding options designed for new businesses. Call 01604217998 or email Info@principalbusinessfinnace.co.uk.