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Guernsey has a vibrant community of support services for the new business set up. Whether your business is moving to Guernsey or you are establishing a new venture within the island there are many benefits of using support services to assist you.
It is critical when incorporating a company to seek advice. When establishing a Limited Company in Guernsey there are a number of legal and regulatory things which you need to be aware of and comply with. The Guernsey Companies Law, 2008, as amended has to be adhered to as well as notification to both Guernsey Tax Office and Guernsey Social Security that you have become self employed and that you have become an employer.
Following and seeking advice is critical and on new business set ups studies have shown that, of those startups who do seek face-to-face advice and training, around 80% are still trading after three years. It is also a fact that the majority (around 90%) of startups do not tap into the assistance available from business support agencies, such as Startup Guernsey, and the three-year survival rate among this group is only around 20%.
For many, self-employment can be a big and frightening step to take, particularly when it comes to the money side of things. Startup Guernsey is an excellent place to start for help and advice when setting up a new business.
For more information on businesses that provide Company Formation Services, visit our Business Directory.