Running your own business can be rewarding, both personally and financially. But you need to start by planning everything out. Discussing your ideas and goals with an accountancy firm who have experience in helping businesses start up can help you avoid some of the potholes and obstacles in your way. The more planning you put into a business, the more likely you are to succeed.
If you come to us, we will help you to plan out your business. We will also answer the questions you will have. In fact we can help you work out what questions you should be asking before you start. We can walk you through the financial procedures you will encounter, the legal requirements you must meet and the best way to plan out your tax responsibilities.
The one question which too many people fail to consider properly is what a new business will cost. We will work with you to assess accurately what the initial costs will be for your new business. Many people underestimate what it will actually cost to start their business, simply because they don't have enough experience.
Some studies have should that the failure rate for new business is four out of five. Eighty per cent of new businesses are not still trading two years after being set up. This isn't always down to them losing money, a lot of people simply decide that it is not for them. With expert advice from the very beginning and some careful planning you can bring in more money and have less go in tax.
We can take you through, step by step in developing a detailed business plan. This isn't just a case of deciding that you want to do A, B and C, but by using our experience and expertise in working out what you need to do to succeed. We can also help you get the information you need to get the right finance for your business.