If you are a small business owner just getting started with an innovative new start up, you are undoubtedly excited about your (hopefully) impending success. You have the skills, you have the know how and you have the unique ideas that will propel your new company from obscurity to achievement – but do you have a registered office address and a place to work?
What is a registered office address?
In order to conduct business, all all limited companies and Limited Liability Partnerships (LLPs) (no matter the size) in the United Kingdom are legally required to have a registered office address. This is required before you start charging clients and producing invoices, and so many people ensure that this is taken care of early on in their planning processes. After all, being able to charge clients is pretty pivotal when it comes to business!
What kinds of addresses can you use?
Of course, for some types of businesses, a physical address will be a given. For instance, if you are planning to open a new craft micro brewery that focuses on British IPAs, you will have an address at which you operate, and you can choose to use this as your registered office address. (Of course, you can also choose to designate a different location as a registered office address.)
With that said, you might be operating a start up, and you might not need a set, determined physical space in order to work your magic. For instance, freelance writers, graphic designers and even event planners can do their daily tasks at a variety of different locales, including their home, a coffee shop and even down at the local pub.
In this is the case for you, what should you use for your registered business address?
- Your home –In some cases, is completely legal and acceptable for you to use your home address for your business. However, this information is completely publically accessible, and that means that your clients (not to mention anyone who cares to search you) will potentially know exactly where you live. If this does not bother you, feel free to go ahead and submit your residence as your registered office. If the idea of the general public knowing where you live gives you a bad feeling (or you feel it could leave you open for danger), it might be a better idea to utilise another option. (*Note – Some landlords will not allow you to use your home address for business purposes – ensure that you check with them in advance.)
- A traditional office space – A traditional office is a great idea if you have a staff of more than one or two people, if you need a storefront, or if you plan on expanding very rapidly. With that said, traditional office spaces do not often come cheap, and many start ups cannot afford this during their initial periods of operation.
- Registered Office & Mail forwarding services – If you plan to work at a start up hub, you may want to use a Registered office address, a service that is offered by many companies across the country. For a fee, they will allow you to use their address as your registered address, allowing you to stay on the right side of the law and keep your privacy.
What are start up hubs?
This is the ideal solution for many entrepreneurs who are just getting started. Start up hubs (also known as co-working spaces) are collectively occupied office and relaxation spaces; you rent a desk or workspace, and in some cases you can even utilise this as your registered office address.
In addition to a desk and a Wifi connection, these hubs are often also innovation labs, business incubators and social enterprise community centres. They are usually well located, affordable, attractive and well stocked with other brilliant entrepreneurs, giving you ample opportunities for networking. Work, collaborate, make use of the amenities and give your business the kick start it needs – these are cool spaces that have launched many a start up.
Start Up Hub Office Spaces Across the UK
Here are some of the finest start up hubs across the country. Remember, many start up hubs offer a signing bonus or trial offer that can glean you free office space for a day, a week or even a month.
- The Trampery – With convenient locations spread across East London, the Trampery offers its inhabitants modern and efficient office space in edgy, up and coming neighbourhoods such as Old Street, Bevenden Street, Tower Bridge and Hackney Wick. Their work spaces are tailored to their architectural surrounds; Edwardian warehouses, brand new glass towers, eco-builds and Victorian halls.
- OpenSpace – Manchester is home to this members collective of writers, artists, designers and small business owners, and OpenSpace not only gives them a place to work, it also gives them a sense of community. With desks starting at 147 pounds per month (for members), this is an affordable, friendly and functional space to work.
- Impact Hub – If you love to travel and want to wander the world while you produce your products or services, Impact Hub might be the perfect co-working space for you. With offices located all over the world, you could always use the closest address for your registered office address while taking advantage of an unlimited membership that will grant you access to spaces across the globe.
- Baltic Creative – Need a great working space in Liverpool? Baltic Creative is for you. Located in the revitalised Liverpool Docks, this hub is comprised of regenerated warehouse spaces that will lend your business an on-trend feel and help you connect with other entrepreneurs in the area.
- Funkyspaces – Funkyspaces provides bare bones desk space (think less community building and relaxation spaces and more just a place to get to work and connect to wifi) to Bristol start ups and freelancers. With locations across the city (and rock bottom prices starting at 53 pounds per month), this is a great solution for those who want to get down to work and don’t really fancy socialising.
- The Hot Desk – Located in Glasgow, The Hot Desk provides solutions for many different types of businesses; students, freelancers, designers and start up entrepreneurs will all find pricing structures that work for them (5 days a month starts at just 60 pounds). Featuring super fast internet connections, a bike shed and a communal kitchen, this is a great option for any business in need of a desk.