phrasal verbto begin something, or to organise something new Exampleto set up an inquiry or a working partyUsageto set up a companyto start a company legallyUsageto set up in businessto start a new business ExamplesShe set up in business as an insurance broker. • He set himself up as a freelance representative."...the concern announced that it had acquired a third large tanker since being set up" [Lloyd's List] to begin something, or to organise something new