Essential guides & tips
Growing your business
Scaling a business brings new opportunities – and new challenges. Explore guidance to support smart decisions as you grow, from hiring your first employee to avoiding common mistakes. You’ll also get tips on startup tools and managing shares.
You’ve set up your company, it’s been performing well, and now you’re considering how to take it to the next level. Scaling a business brings new opportunities – and new challenges. 1st Formations’ guides to growing a business help you make the smart decisions as you grow, from hiring your first employee to avoiding common mistakes. You’ll also get practical advice on how to grow your business, as well as tips on startup tools and managing shares.
How to grow your business in the UK in 10 steps
9 minutes read
How to hire your first employee
9 minutes read
18 common startup mistakes business owners make
10 minutes read
How to transfer or issue shares in a UK limited company
6 minutes read
Best business tools for startups
6 minutes read
How to change director, PSC, and share details
10 minutes read
See also
Blogs
A guide to company shares
Company shares represent ownership in a limited company, with various types including ordinary, preference, and non-voting shares. Shareholders gain rights such as voting, dividends, and capital distribution based on their share class. Shares can be bought, sold, and transferred, and their nominal value determines financial liability in case of company debts.
12 Common legal mistakes new startups make
The most common legal mistakes startups make include using verbal agreements, choosing the wrong business structure, overlooking co-founder agreements and issuing company shares without understanding dilution. Mistakes also involve confusing share transfers with share issuances, not protecting intellectual property (IP), misclassifying employment status, and missing company filings. Other mistakes are issuing unpaid shares, poor record-keeping, ignoring data protection rules and using AI-generated documents carelessly.