Essential guides & tips
Growing your business
You've set up your company, it's 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' resources to growing a business help you make smart decisions as you scale, from hiring your first employee to avoiding common mistakes. You'll also find practical advice on the best business tools for small businesses, and how to manage company shares as you grow.
Scaling brings new questions: when to hire, how to manage shares, which tools are worth investing in, and more. Our guides to growing a business help you make confident decisions at every stage, backed by practical, expert-led advice.
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.