Set Up a Dental Clinic Business in the United Kingdom
Brace for success with 3E Accounting’s quick read on how to set up a dental clinic business in the UK.
Owning and running your very own independent dental practice is a goal for many practitioners. A squat dental practice is an independent one that usually starts with a single surgery. It has the potential to grow into a really successful practice when planned and strategised right. 3E Accounting offers a few crucial insights on how to set up a dental clinic business in the UK.
A Smiling Success
Statistics show that the United Kingdom’s dental industry has approximately 41 thousand dental practitioners. It is a sustainable sector that is slated for growth. A dental clinic business can be independent, contracted with the UK’s National Health Service or be a combination of both.
A well-written dental clinic business plan should address the following pertinent points:
- Scalable five-year plan on strategies, objectives, and forecast financials.
- A well-researched location with appropriate footfall. For example, a paediatric dental practice is best located near schools, etc.
- Get your team together, which will include registered practitioners.
- Research customer management software, administration systems, etc. that will automate the running of the practice.
- Shortlist and engage experts to help with the company formation, practice design and fit-out, etc.
- Sort out how much capital investment and finance you will require, get funding and loans.
Your business can operate as a sole proprietorship, a partnership, a limited company, or a franchise. You will need to register with Companies House and HMRC for taxes. It should be noted that generally, only dentists or dental care professionals can run a dentistry business. To learn more about shareholding and owning as well as exceptions to the general rule, get in touch with 3E Accounting.
In the UK, the dentistry industry is regulated by the Dentists Act 1984. To practice dentistry in the UK, your practice must be compliant with the following regulations, amongst others:
- Annual registration with the dental statutory regulatory body, the General Dental Council (GDC).
- Registered with the Care Quality Commission (CQC).
- Employees such as nurses, technicians, etc., must be GDC-registered.
- Registered with the Health and Safety Executive (HSE) for the use of X-rays.
- Licence to play background music or stream content on a television, etc.
- Specific approvals and permits for storing and using controlled drugs and substances.
- Licenses and permits to use certain equipment.
The GDC also controls the use of the words ‘Dentist’ and ‘Dentistry’. You will need approval from them to use these terms in your business’ name, signboard, website or advertisement.
Other considerations include proper waste disposal as well as business and personal indemnity insurance. You will also need to register with the Information Commissioner’s Office (ICO). This is required by the General Data Protection Regulation 2018 (GDPR) to handle, collect and store patient records and data. Setting up a website for your business is a great idea. Bear in mind that all UK dental practice websites must display specific information such as GDC registration number, etc.
As can be seen, a dental clinic business has many tiers to be considered. The best way forward is to engage professional help, and we at 3E Accounting are ready to assist. Our company formation packages can be customised to fit your needs so you can choose your level of involvement. You can be hands-on or hands-free; either way, your business will be set up with impeccable professionalism. Contact 3E Accounting today to chat with our team of experts on how to set up a dental clinic business in the UK.