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Introduction
If you’re thinking of starting a construction company in the UK, there are a few things you need to know. The construction industry is booming, with the number of new builds starting in England alone increasing by 23% in the last year. But it’s a tough sector to crack, and getting your business off the ground can be challenging.
To help you get started, we’ve put together a guide on how to start a construction company in the UK. We’ll take you through the process step-by-step, from registering your business and getting insured, to finding funding and tendering for work.
So if you’re ready to get stuck in, read on for our advice on how to start a construction company in the UK.
The UK’s Construction Industry
The construction industry in the United Kingdom has come a long way in recent years. The sector is now worth an estimated £110 billion to the economy and employs over two million people.
There are a number of reasons why now is a good time to start a construction company in the UK. Firstly, there is currently a high demand for new housing and infrastructure projects. This is likely to continue in the coming years as the population continues to grow. Secondly, Brexit is creating opportunities for construction companies that are able to take advantage of the UK’s new trading relationship with the rest of the world. And finally, there is government support for the construction industry through initiatives such as the Construction Sector Deal.
If you’re thinking of starting a construction company in the UK, there are a few things you need to consider. Firstly, you will need to obtain licenses and accreditations from relevant authorities. Secondly, you will need to find suitable premises and equipment. And finally, you will need to put together a team of experienced and qualified staff.
If you’re looking for more information on how to start a construction company in the UK, please get in touch with our team of experts at Company Formations 24/7. We can provide you with everything you need to get started, from advice on licenses and accreditations to finding suitable premises and equipment.
How to Start a Construction Company in the UK?
If you’re thinking of starting a construction company in the UK to make money fast, there are a few things you need to know. You must first register your company with Companies House. You will need to supply some basic information about your business while doing this online.
Once your company is registered, you’ll need to get a few things in place before you can start. You’ll need public liability insurance and employers’ liability insurance, as well as any other insurance required by your local council. You should also put together a health and safety policy, and make sure all your employees are aware of it.
It’s also worth getting some accreditation from a trade body such as the National House-Building Council (NHBC), which will give your customers peace of mind that you’re a reputable company.
Once you’ve got all of this sorted, you’re ready to start advertise your business and winning work. Good luck!
What is the Process?
There are a number of steps you will need to take in order to start a construction company in the UK. The first step is to register your company with Companies House. You will need to provide them with some basic information about your company, such as its name, registered address, and contact details.
Once your company is registered, you will need to obtain a license from the Local Authority Building Control (LABC). This license allows you to carry out building work in the UK. To obtain a license, you will need to submit an application form and pay the associated fee.
Once you have your LABC license, you can begin marketing your construction company and seeking out clients. It is important to have a well-designed website and a strong social media presence. You should also consider creating a portfolio of your previous work to showcase your skills and experience.
Key Costs of Starting a Construction Company in the UK
There are a number of key costs associated with starting a construction company in the UK. These include the cost of setting up the business, the cost of licenses and permits, the cost of insurance, and the cost of marketing and advertising.
The cost of setting up the business can vary depending on the size and scope of the company. However, it is important to factor in the cost of office space, equipment, and any other start-up costs.
The cost of licenses and permits will vary depending on the type of construction work you will be undertaking. It is important to check with your local authority to see what licenses and permits you will need.
The cost of insurance is something that all businesses need to consider. Construction companies are often required to have higher levels of insurance than other types of businesses. This is due to the nature of the work involved and the risks associated with it.
The cost of marketing and advertising will also vary depending on the size and scope of your company. It is important to create a marketing plan that targets your potential customers. There are a number of ways to market a construction company, including online marketing, print advertising, and word-of-mouth marketing.
What are the Legal Requirements for My Business?
There are a few legal requirements you need to take into account when starting your construction company in the UK. Firstly, you need to register your business with Companies House. This can be done online and will cost £20. You will also need to have a registered office address in England or Wales.
You will need to decide on the structure of your business, whether it is a sole trader, partnership or limited company. Each has different tax and legal implications so it is important to seek professional advice before deciding which is right for you.
Once you have registered your company, you will need to apply for a Construction Industry Scheme (CIS) registration. This can be done through HMRC and will allow you to operate as a contractor or sub-contractor within the construction industry.
It is also a legal requirement to have employers’ liability insurance in place if you have any employees working for you. This will protect you financially if they are injured or fall ill as a result of their work.
Finally, you must make sure that all of your workers have the correct permissions to work in the UK if they are not British citizens. You can do this by checking their passports or other documents that prove their right to work here.
Conclusion
Starting a construction company in the UK is not as difficult as it may seem. With a little planning and preparation, you can be well on your way to starting a successful business. The first step is to register your company with Companies House. Once you have done this, you will need to obtain a construction license from the local authority. After that, you will need to purchase insurance and set up a bank account. Finally, you will need to find some clients and get started on your first project!
