Unemployment, and the general lack of job opportunities has been a key factor in driving this increase; however the type of individual starting a new businesses could not be wider and includes school leavers, full-time Mums, retired executives, and everything in between. Though these individuals typically have one thing in common, they start up in business because they have a good business idea together with the enterprise and commitment to see it through — not because they are experts in the legal, financial, and fiscal aspects of running a business.
These financial matters can often seem daunting, and may even put off all but the most ardent of budding entrepreneurs. The good news is that you do not need to be an expert in all these fields to succeed. But you do need the support of a team of trained experts, and this is where Harvey, Telford & Bates fit in ….
Bring us your business start up idea and we’ll help you to evaluate it in a constructive and realistic manner. We can also help you:
- Decide on the most suitable structure for your start up business—sole trader, partnership, or limited company;
- Prepare a business plan, cashflow projections, budgets, and trading forecasts;
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals;
- Establish a good working relationship with your bank;
- Complete any registration procedures with Companies House and HMRCE;
- Deal with company secretarial issues;
- Set up a recording system for your internal use and for complying with statutory requirements.
With so many business start ups failing in the first year, it is essential that you start your new venture on a sure footing. Call Harvey, Telford & Bates Chartered Accountants today, to set up an initial consultation.