Use Tide to open a business bank account
- Award-winning, smart, simple business account
- The hassle-free account for your business
- Get your sort code and account number in minutes
Updated
However, there are a few necessary steps to take in order to set up your dog-walking business correctly.
If you’re taking a homeowner’s keys and going into their home, you’ll need:
You don’t need any formal training or educational qualifications to start a dog-walking business. However, it’s recommended to invest in membership with the National Association Of Dog Walkers and Pet Sitters (NARPS). This gives your business extra credibility and visibility, as many customers search for dog walkers using the NARPS database.
If you have qualifications in fields such as animal first aid, animal behaviour or veterinary care, this could enhance your reputation in the eyes of customers.
You have to register your business with HMRC for tax purposes. Technically, the deadline for this is 5 October of your business’s second tax year. However, if you don’t want to face a huge retrospective tax bill, it’s in your best interests to do this as soon as possible.
A big decision to make is: what type of business you want to launch. This will affect the taxes you pay and your personal liability for your business.
Here are your main options:
A key difference between sole traders and corporations is your personal liability. With a corporation, you can’t be held personally liable for business debts or lawsuits. So, if your business goes under, your creditors can’t claim money back from you personally.
Owners of a dog-walking business may not be too worried about this possibility. Small businesses in this niche are unlikely to run into massive debts or lawsuits.
If your dog-walking business is starting out as an individual project, you may feel comfortable starting as a sole trader. This is cheaper, quicker and easier. You can always incorporate later.
Most small business owners will find it essential to invest in the following types of insurance:
Some insurance companies offer dog-walking insurance, which protects you against all of these potential outcomes, while also covering the cost of lawsuits if a dog gets hurt or injured in your care.
It’s not compulsory to write a business plan when launching a dog-walking business. However, a lean business plan can do a lot to help you succeed in this field.
At the very least, a dog-walking business plan should include:
As with any service-based business, the amount you charge will mostly be based on demand for your services.
It’s recommended to research what your competitors charge and price your services based on how your service compares.
If you offer a better service, have more experience and/or qualifications, you should be able to charge more and still find customers.
Here are some great ideas for marketing your dog-walking business.
A business bank account basically works like a personal one – the main difference is that it’s dedicated to your business’s finances. You should therefore expect the same features, such as a debit card, the ability to make and receive payments, an overdraft option, a banking app and so on. We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.Use Tide to open a business bank account
Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. Compare interest rates and check your eligibility today.
Want to buy Bitcoin but don’t know where to start? This comprehensive guide provides step-by-step instructions on how and where to buy BTC in the UK.
Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.
Looking to set up your own business but not quite ready to get a proper office? You can definitely run your company from home, once you’ve taken care of a few details.
Launching your business and wondering about receipts? We’ve put together a quick guide to what they are for, when you need to issue one and what information you should include.
Should you get a current account, a savings account, or both? What about joint accounts and premium accounts? Banking can be messy if you don’t know the jargon. This guide looks at the main types of bank accounts and what services they offer to help you figure out what you need exactly.
If you’re a small business owner, here’s what you need to know about opening a business bank account.
Looking to shop small this Black Friday? Here’s how you can support UK craftspeople and small businesses without leaving your house.
If your credit score is less than ideal, you might be worried about being refused for a business account application. But there are business accounts with no credit checks, sometimes referred to as “guaranteed”, that can offer a solution.
While it may look like more work, opening a separate business account is actually likely to make your work life easier and more organised. Here are the pros and cons.