A Map to Succeed in Small Business / Private Practice Start Up

1. A Map to Succeed in Small Business / Private Practice Start Up Route 2 Setup NEXT

2. How to use the map The following map has been designed to lead you through the processes and challenges of starting up your own small business / private practice. Although not exhaustive, this route map will allow you to guide yourself through the most common challenges of business start up. The map is easy to navigate. The main line ----- takes you through the eight main stations to starting your own business. The lines coming off these main stations give you more specific information about individual topics. Click on the station, or topic, you wish to find out about. Once you have read the information just click on the logo at the bottom of every page and it will return you to the main map. BACK NEXT

3. References & Acknowledgements Good Luck Learn from Experience of Others Chance to Create a Sustainable Business Grow your business Legal & Financial Advice Useful Contacts Mentor Running your Business Entrepreneurship Networking Pros & Cons Vision for your Business Who Needs to Know? Finances Naming your Practice What is a Business Plan? Sales & Marketing FINAL DESTINATION MAKING A START Practice Arrangements BUSINESS PLAN Executive Summary BUSINESS STRUCTURE Trading Arrangements Why you need Marketing The 7 Ps of Marketing MARKETING What is Marketing? Raising Finance FINANCE SCOPE OF PROFESSIONAL PRACTICE PREMISES & EQUIPMENT Which Premises? Managing Finance Viewing Premises Buy or Lease? Practice Accreditation Working from Home Financial Forecasts Clinical Standards Disability Access & Considerations Insurance Planning Permission & Building Regulations CPD Environmental Responsibilities START UP ROUTE MAP Health, Safety & Wellbeing Regulatory & Professional Bodies Equipment Needs BACK

4. MAKING A START • The Making A Start line identifies elements to consider when you are thinking of setting up in private practice. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the Making A Start station and map. • Pros & Cons • Entrepreneurship • Chance to create a sustainable business • Learn from experiences of others

5. BUSINESS STRUCTURE • The Business Structure line looks at elements involved in forming and naming your business. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the • Business Structurestation and map. • Trading arrangements • Practice arrangements • Naming your practice • Who needs to know? • Legal & Financial advice

6. MARKETING • The Marketingline introduces you to marketing and its importance to business. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the Marketing station and map. • What is marketing? • Why you need marketing • The 7 Ps of marketing

7. PREMISES & EQUIPMENT • The Premises & Equipment line takes you through the main aspects involved in choosing work premises and equipment. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the • Premises & Equipment station and map. • Which premises? • Viewing premises • Buy or lease? • Working from home • Planning permission & Building regulations • Disability access & considerations • Health, Safety & Wellbeing • Environmental Responsibilities • Equipment needs • Practice accreditation

8. SCOPE OF PROFESSIONAL PRACTICE • The Scope Of Professional Practice line summarises professional points to consider within private practice & provides links to various professional organisations. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the • Scope Of Professional Practice station and map. • Practice accreditation • Clinical standards • CPD • Regulatory & Professional bodies

9. SCOPE OF PROFESSIONAL PRACTICE • The Scope Of Professional Practice line summarises professional points to consider within private practice & provides links to various professional organisations. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the • Scope Of Professional Practice station and map. • Practice accreditation • Clinical standards • CPD • Regulatory & Professional bodies

10. FINANCE • The Financeline provides a summary of financial considerations when setting up in private practice. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the Finance station and map. • Raising finance • Managing finance • Financial forecasts • Insurance

11. BUSINESS PLAN • The BUSINESS PLAN line provides a summary & guide to creating your business plan. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the BUSINESS PLAN station and map. • What is a business plan? • Executive summary • Vision for business • Sales & Marketing • Running your business • Finances

12. FINAL DESTINATION • The Final Destination line provides some final considerations before you start your business. • Click on the above categories to start your journey on this line. • The QMU logo will take you back to the Final Destination station and map. • Mentor • Networking • Grow your business • Useful contacts • References & Acknowledgements • Good luck

13. PROS AND CONS • Is private practice right for you? • Elements you may wish to consider • Pros • Personal challenge & opportunity • Independence & autonomy • Flexible working hours & flexible work location • Direct ‘effort & financial reward’ relationship • Cons • Business & financial insecurity • Self finance of pension & work benefits • On going business administration • Impact on work/life balance • (Physio123, 2012) • Useful Links: • Business Gateway: Reasons why to work for yourself? • Physio123: Benefits of private practice

14. ENTREPRENEURSHIP • Am I an entrepreneur? • Yes, when you undertake and manage the risk of setting up a business, you are an entrepreneur. • Qualities of an entrepreneur • Most successful entrepreneurs share certain common qualities which Business Gateway (2012) identifies as: • Self confidence and Self determination • Commitment and Perseverance • Initiative and Judgement • Self starter • Discover how these qualities and personal skills can help you start up in business: • Business Gateway:Match your business skills and experience

15. CHANCE TO CREATE A SUSTAINABLE BUSINESS Create a business that cares Starting up your own business offers you the opportunity to build a business based on positive social, economic and environmental values. No matter how small your business, there are simple steps you can take to become socially and environmentally responsible, including: • Reduce carbon & protect the environment – adopt green business • Support your community – become involved in volunteering & local charities • Improve workplace wellbeing – foster and support equality & diversity • Support other small/medium businesses – use local firms where possible (Department for Business, Innovation & Skills, 2013) Lead by example: Queen Margaret University is strongly committed to social, economic and environmental sustainability. To ensure quality, the university supports the following . Mission, Vision & Values

16. LEARN FROM EXPERIENCE OF OTHERS • Learn from both the mistakes andthe successes • Speaking to those already in private practice, or to someone who has had experience of setting up a small business, will give you an insight into the realities of starting up a practice. • Suggested sources of local contacts: • Business Gateway provide a series of video diaries in which others share their experiences of setting up in business. • Business Gateway also provide access to a network of experienced business advisors who you can contact through . • Professional Bodies • Private Practitioner Groups (if available) • QMU Alumni & Friends • QMU Careers (2 year post-grad access) Start up diaries Business advisers

17. TRADING ARRANGEMENTS • How you will trade - your first important decision • The structure of your business affects the tax you pay. It is therefore extremely important to select the most appropriate legal structure. • Structures relevant to private practice • Sole trader • Partnership • Private limited company • (Business Gateway, 2012) • To consider these options further: • Business Gateway: Legal structures: the basics

18. TRADING ARRANGEMENTS • How you will trade - your first important decision • The structure of your business affects the tax you pay. It is therefore extremely important to select the most appropriate legal structure. • Structures relevant to private practice • Sole trader • Partnership • Private limited company • (Business Gateway, 2012) • To consider these options further: • Business Gateway: Legal structures: the basics

19. PRACTICE ARRANGEMENTS • Other considerations for the structure • of your business • Start up as a new practice from scratch? • Buy an existing practice? • Join an established practice? • Work full or part time? • (Santander, 2012) • These decisions will have a direct impact on your set up costs & the income you can expect to receive. • For a guide to buying an existing business: • Business Gateway: Buy an existing business

20. NAMING YOUR PRACTICE • What’s in a name? • Naming your practice needs careful consideration. • The name will define your business, so ensure it is relevant to clients and it conveys the service you wish to provide. • The practice name is significant for future branding & marketing. • (Hill et al, 2008) • For guidance on naming your practice: • Business Gateway: Choose the right name for your business

21. WHO NEEDS TO KNOW? • When you make the decision to set up in private practice there are certain people and agencies who need to be informed: • Her Majesties Revenue & Customs (HMRC) • You must register your business with HMRC for business tax. This is further • explained in under the FINANACE line. HMRC provides a • comprehensive guide in • You must tell HMRC within 3 months of starting otherwise you may face a fine. • (HMRC, 2012) • Companies House • You must inform if you have decided to set up a company. • Professional Body • Your professional body may require this information to update your registration. • Employer • If you will still be working for someone else when you set up then you may be • legally required to inform your employer – check your contract of employment. • (Hill et al, 2008) ‘Tax, NI & VAT’ ‘Starting a business’. Companies House

22. LEGAL & FINANCIAL ADVICE • Getting professional advice • Getting the right legal & financial advice is an essential element in setting up a new business. • Advice is required for many aspects of business, including: • Bookkeeping • Lease negotiations • Written agreements • For general advice on what to consider when choosing financial & legal advisers and links to professional bodies: • GOV.UK: Set up your business – (see section ‘Working with advisers’)

23. WHAT IS MARKETING? • Marketing is more than advertising • The Chartered Institute of Marketing define marketing as: • ‘’the management process responsible for identifying, anticipating and satisfying customer requirements profitably’’ • (CIM, 2012) • The goals of marketing are achieved by developing: • A marketing strategy – • how to promote the benefit of your services and meet the needs of • your clients • A marketing plan - • how you put your strategy into action • (Business Gateway, 2012)

24. WHY YOU NEED MARKETING • Always remember your practice is a business • Marketing will play a key role in the success of your business. • Developing a marketing strategy enables you to: • identify potential clients • understand & meet client needs • communicate the benefit of your services • identify and address business strengths & weaknesses • (Business Gateway, 2012)

25. THE 7Ps OF MARKETING • Successful marketing addresses 7 key points: • Product : your service • Place : location where you provide your service • Price : cost – price - profit • Promotion : advertising • People : you/employees/clients • Process : standards of practice • Physical : workplace standards • Environment • (CIM, 2009) • The following links provide an overview of marketing, how it works and its importance to your business: • Business Gateway: Marketing • NESTA: Worksheet 4a:Marketing mix

26. WHICH PREMISES? • This is a key decision and there are many elements to consider when looking for premises. • Choosing the wrong premises can be a costly mistake. • What area? • this will have an impact on the type of practice you develop • Space? • space costs – what do you really need? • Buy or Lease? • what are the financial implications? • (Hill et al, 2008)

27. VIEWING PREMISES • There are many things to consider when viewing potential premises: • Location: • are the premises near your client base? • are the premises near other healthcare providers, eg GP practice, • to help build local business networks / referral networks? • Affordability: • can you afford rent/mortgage, business rates & utilities? • remember professional fees & insurance • will there be costs to decorate, maintain & repair premises? • will there be costs to meet the various regulatory standards? • Amenities & facilities: • is there space for car parking for your clients? • Branding & future development: • is there scope for future expansion • do the premises reflect the image of your business? • (Hill et al, 2008)

28. BUY OR LEASE? • Buy • This option allows you more control over the use and development of the premises however it requires available capital. • Business Gateway look at the advantage & disadvantages of this choicein: • Lease • The majority of small businesses will choose to rent their premises as it is often the most financially viable option. Main considerations: • is the rent reviewed; is it all inclusive or are there hidden charges? • how long do you want to commit to the lease? • can you leave your lease early / can you renew your lease? • Business gateway consider this option further in: • (Business Gateway, 2012) • Ask the professionals: • Choosing the wrong property can be costly. • Consult property experts: chartered surveyor / solicitor / bank manager • Useful link: • Business Gateway: Buying business premises. Renting business premises. How to find premises that meet your business requirements

29. WORKING FROM HOME • If your home could accommodate your business requirements, then working from home may be an option. • Advantages: • lower costs (no rental fees or commuting costs) • flexible working hours • Disadvantages: • difficulty in keeping a good work-life balance • isolation • (Business Gateway, 2012) • There are many factors to consider when setting up a home based business. The following helpful Business Gateway link takes you through the checks to do before you decide to work from home: • Starting a business from home

30. PLANNING PERMISSION & BUILDING REGULATIONS • Alteration - Renovation - Decoration • If you want to make any changes to the premises, then you must follow relevant planning rules and building regulations. • You may need to apply for planning permission and/or comply with building regulations if you are considering: • any building work • alterations of property • a change of usage. • As rules and regulations vary across regions, contact your Local Authority for guidance. • (Hill et al, 2008) • For further information: • Business Gateway: Local authority services – ‘Planning and building regulations’

31. DISABILITY ACCESS & CONSIDERATIONS • Are the premises and facilities accessible? • Under the Equality Act (2010), any business that provides a service to the public is legally required to make ‘reasonable adjustments’ to the ‘physical features of your premises to better enable disabled people access to your services’. • (Government Equalities Office, 2010) • This can include ‘reasonable adjustments’ to: • entrances and exits • parking areas • toilets. • The Government Equalities Office has produced a series of guides, including a guide for business, to help explain what your new responsibilities are: • Refer to your professional body for additional guidance Equality Act 2010: What do I need to know?

32. HEALTH, SAFETY & WELLBEING • Businesses have a legal and moral obligation to provide a • safe and healthy working environment • To help reduce physical risk at work there are statutory health and safety laws which protect those affected by your business’ activities (you, staff, clients, suppliers). • Duties include: • carrying out a risk assessment • writing your business’ health and safety policy • first aid and accident guidelines. (Hill et al, 2008) • The Health and Safety Executive (HSE) provide an essential guide on health and safety responsibilities in: • You also have a legal duty of care for any employees. This involves handling • health &welfare issues. Looking after the wellbeing of yourself and your employees will benefit your business. (Business Gateway, 2012) • and discuss the benefits of promoting a healthy workplace • provide guides to ‘Health & Safety’ and ‘Occupational Health & Welfare’ Looking after your business Acas The European Agency for Safety and Health at Work Business Gateway

33. ENVIRONMENTAL RESPONSIBILITIES Businesses have a legal and moral responsibility for their environmental impact All businesses have to comply with environmental legislation. Your duties of care may include: • waste management • storage and use of hazardous substances • air and noise pollution. Environmental responsibility extends beyond legal requirement and your business will benefit from following good environmental and sustainable practices. (Business Gateway, 2012) In Business Gateway presents the environmental and financial benefits of: • reducing energy & water use • reducing waste • recycling Useful link: The environmental regulators in Scotland (SEPA) & Northern Ireland (NIEA) provide legislation information within different business areas in: Refer to your professional body for specific guidelines ‘Environmental responsibilities for businesses’ NetRegs

34. EQUIPMENT NEEDS • Equipment needs vary depending on your profession and scope of practice. • Although purchasing the full range of equipment is tempting, it is also very expensive. It is therefore important to ask yourself: • do I really need this piece of equipment? • how often will I use it? • will it improve the level of service I can offer clients and thereby allow me to increase the level of fees commanded? • Once you have decided that the equipment is required, next ask: • is it more financially beneficial to buy or to lease? • (Hill et al, 2008) • Refer to your Professional Body for guidelines on equipment requirements

35. PRACTICE ACCREDITATION • Each profession has a different range of systems, processes and procedures that allow practitioners to deliver an effective service. • These set professional standards and guidelines underpin practice accreditation schemes which define the standards required for practice. • If applicable, joining such a scheme allows you to: • demonstrate to clients your practice has achieved the appropriate standards • demonstrate to authorities that you comply with relevant legislation • use the guidelines to inform your decision on the suitability of potential premises • (Hill et al, 2008) • Contact your Professional Body for information on practice accreditation schemes

36. PRACTICE ACCREDITATION • Each profession has a different range of systems, processes and procedures that allow practitioners to deliver an effective service. • These set professional standards and guidelines underpin practice accreditation schemes which define the standards required for practice. • If applicable, joining such a scheme allows you to: • demonstrate to clients your practice has achieved the appropriate standards • demonstrate to authorities that you comply with relevant legislation • use the guidelines to inform your decision on the suitability of potential premises • (Hill et al, 2008) • Contact your Professional Body for information on practice accreditation schemes

37. CLINICAL STANDARDS • Each profession has their own set of clinical standards and guidelines. • They are set out by each Professional/Association Body. • Clinical standards and guidelines form the basis of practice accreditation schemes. • (Hill et al, 2008) • It is important to familiarise yourself with them as they will influence: • the type of premises you choose • the equipment you will need • the health and safety guidelines you need to follow • the environmental guidelines you need to follow. • For Clinical Standards and Guidelines • contact your Professional Body

38. CPD Continuing Professional Development ‘CPD is the way professionals continue to learn and develop throughout their careers so they keep their skills and knowledge up to date and are able to work safely, legally and effectively.’ (HPC, 2012) CPD is a requirement of all health and social care professionals. It is important that you plan and allocate sufficient time and money to support this learning within your private practice. You must keep a CPD portfolio to record all learning. As a private practitioner, CPD that up-dates (not expands) your current skills and professional knowledge is a cost that can be offset against tax. (Hill et al, 2008) For guides to standards of CPD requirements contact your Professional and Regulatory Body

39. REGULATORY & PROFESSIONAL BODIES • Regulatory Bodiesare independent of professional bodies. They act in the interest of the public and promote regulation. Regulatory bodies keep a register of health professionals who meet their standards for training, skills and behaviour. • Professional/Association Bodies are independent of regulatory bodies. They act in the interest of the profession and support the practitioner. Members are required to meet its own standards for training, skills and behaviour. • (GRCCT, 2012) • Click on the following professions for details of their associated regulatory & professional bodies: • Dietetics • Nutrition • Occupational Therapy • Podiatry • Physiotherapy • Nursing • Speech & Language Therapy • Audiology • Hearing Aid Dispensers • Radiography • Art Psychotherapy • Music Therapy • Dance Movement Psychotherapy

40. DIETETICS • Regulatory Body: • Professional Body: • Suggestions of Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • The British Dietetic Association (BDA) • Freelance Dietitians • Dietetics.co.uk

41. NUTRITION • Regulatory Body: • Nutritionists are not regulated by a governing body in the UK • Professional Body: • Suggestions of Private Practice Groups /Forums: • Association for Nutrition (AfN) • The Nutrition Society (NS) • The Nutrition Society – Scottish Section • The Nutrition Society – Irish Section

42. OCCUPATIONAL THERAPY • Regulatory Body: • Professional Body: • Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • British Association of Occupational Therapists (BAOT) • The College of Occupational Therapists Specialist Section – Independent Practice

43. PODIATRY • Regulatory Body: • Professional Body: • Suggestions of Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • The Society of Chiropodists & Podiatrists (SCP) • SCP ‘Private Practice Forum’ members access only • Podiatry Arena

44. PHYSIOTHERAPY • Regulatory Body: • Professional Body: • Suggested Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • Chartered Society of Physiotherapy (CSP) • PhysioFirst

45. NURSING • Regulatory Body: • Professional Body: • The Nursing and Midwifery Council (NMC) • Royal College of Nursing (RCN)

46. SPEECH & LANGUAGETHERAPY • Regulatory Body: • Professional Body: • Suggested Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • Royal College of Speech & Language Therapists (RCSLT) • Association of Speech & Language Therapists in Independent Practice (ASLTIP)

47. AUDIOLOGY • Regulatory Body: • Professional Body: • Suggested Private Practice Groups / Forums: • The Registration Council for Clinical Physiologists (RCCP) • British Academy of Audiology (BAA) • Association of Independent Hearing Healthcare Professionals (AIHHP)

48. HEARING AID DISPENSERS • Regulatory Body: • Professional Body: • Suggested Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • British Society of Hearing Aid Audiologists (BSHAA) • Association of Independent Hearing Healthcare Professionals (AIHHP)

49. RADIOGRAPHY • Regulatory Body: • Professional Body: • Suggested Private Practice Groups / Forums: • Health and Care Professions Council (HCPC) • Society of Radiographers (SOR) • SOR ‘Professional Standards for Independent Practitioners’ – members access only

50. ART PSYCHOTHERAPY • Regulatory Body: • Professional Body: • Health and Care Professions Council (HCPC) • British Association of Art Therapists (BAAT)