Business formation is a necessary early step when starting a business. The way your startup is formed will determine the personal liability of the founders, how taxes are paid, and other details.
You will need to update your business plan to reflect the changes that your startup has undergone since the first iteration of the business plan.
Keep track of your sales revenue and make sure it covers your operating costs. Ideally you should reinvest your profits to scale up your startup.
You will need an IP strategy to protect your idea from getting stolen by competitors.
SEIS and EIS are designed so that your company can raise money to help grow your business. It does this by offering tax reliefs to individual investors who buy new shares in your company.
This is the earliest funding stage, and usually refers to the period in which a company's founders are first getting their operations off the ground.
Based on your startup's success, you will need to adapt your startup's operations to your growing clientele and revenue in order to keep up.
Applying for grants can be a stressful process, but is a vital step to ensure your startup gets the money it needs to grow the way it needs to in order to adapt to the market and industry it operates in.
What is your marketing strategy? Have you set relevant KPI's? These are some of the things you need to think about at this stage.