Business services

Starting your new business

There is a lot to plan when starting a new business and it is important to make the right decisions from the outset.  We are experienced in guiding clients through the start-up process, with straightforward guidance to ensure that your business will survive, grow and prosper.

Some areas that you will need to consider include:

Your trading options
Should you structure your business as a sole trader, partnership, limited liability partnership or company?  Your decision involves considering the number of people involved, the nature of the business, the trading risks, and personal preferences.  We will discuss the options and their implications with you in real terms and arrange a structure to suit your needs, ensuring all the correct paperwork is in place.

Meeting the requirements of ‘red tape’
There are various areas that you need to comply with, including registering for National Insurance (NI), Income Tax and Value Added Tax (VAT).  We help you to do this as early as possible to avoid late registration fines for NI and VAT, and filing penalties for Income Tax.

Your business strategy
A business plan is a fundamental element of launching your own enterprise.  It describes your business, its objectives, how you will achieve these, funding requirements and much more.  As well as being an essential tool to secure funding, it also means that you have a clearly thought-through plan for your business and a benchmark for measuring your progress.  We can help you to clarify your strategy, with advice on elements such as forecasting and management. 

Your funding requirements
We work with you to help determine how much funding you require, when it will be needed and over what term, producing a cash flow forecast to aid your funding applications.  Including a number of ‘what if’ calculations means you can demonstrate your budget can be flexed to meet a range of scenarios.  If you have already produced a cash flow forecast, we are able to check this for you before you present it to investors.

Structuring your record keeping
Implementing an efficient system for keeping your records is vital - this allows you to track sales and costs, identify the most profitable lines, and manage your business effectively.  We offer advice and training in setting up and operating business management and accounting software.  If you would prefer to focus your time on other aspects of your business, we can take some of the administrative elements off your hands, including payroll, PAYE review and accounts preparation.

If you are starting a new business and need advice on any of the areas above, contact us for a free initial consultation at any of our offices.