Updated: Nov 29, 2022
Your business infrastructure. This is one of the less fun but vital elements of being an entrepreneur - the legals, the registrations, the compliances - but it doesn't have to be too scary.
Here's a quick summary of the things you should be considering when you set up your VA business.
1. Registering for self-assessment as a sole trader. You can do this really easily through gov.uk, and it only needs to be done by 5th October in your second year of trading, and only after you've earned your first £1,000.
3. You should also register with the ICO for data protection, as someone who processes personal information. They have a useful tool to check whether you are exempt or not.
4. A legally compliant contract for use with your clients. I recommend KoffeeKlatch as a starting point, however I also offer a fully customisable contract for the VAs who join my coaching programmes.
5. Insurances - Professional Indemnity Insurance at a minimum. I can recommend PolicyBee.
6. A business bank account - not a legal requirement for a sole trader but it makes things so much easier!
And that's it! It might look scary, but getting all of this established is about £100 and half a day's work in total, and by the time you are done you'll be a fully compliant, legally protected business!
If you have any questions, book a free strategy call with me and we will talk through your next steps.