Hart commenced retail trading in electrical appliances in 1975 and in 1979 he first used his name as part of the company's name.

The only exception is for some Excise Duty registrations where the business is required to obtain approval before they can commence trading.

This period starts from the date you commenced trading or hired your first employee - not from 6 September 2010.

In the absence of a contract, the company is extremely unlikely to ever commence trading.

Sainsbury's was the first major British supermarket to open a bank, commencing trading on 19 February 1997.

Neither a sole trader nor a partnership is inhibited by legal formalities when commencing trading.

If time is of the essence, sole trading or partnership may be the preferred forms, since they require few formalities to commence trading.

The only formality required of a person who wishes to commence trading in this way concerns the naming of the business.

The formalities required before a company can commence trading are relatively straightforward.

However, a public company must obtain in addition a trading certificate from the Registrar before it may commence trading.