Starting a new Business venture can be a daunting process and you will find yourself having to negotiate your way through a maze of information, forms and regulations just at the point where you really need to focus upon your Business idea, marketing, customers and Suppliers.
We aim to take the stress out of this process and help you to understand and deal with the many hurdles, such as…
Which Business structure should I use?
There are several options to choose from, namely Sole trader/ Partnership/LLP or Limited Company all of which have very different tax and legal consequences. We will explain each of these to you and guide you toward the most appropriate vehicle to use.
Do I need to register my Business?
There are certain requirements to register your business with the various Government Agencies along with other issues such as ‘should I register for VAT’? and ‘what happens if I’ve also got another job’? We will deal with these matters on your behalf and advise you on the pros and cons of VAT registration.
What Records do I need to keep?
We will take you through the various records that you will need to keep and set up a simple bookkeeping system for you to enter all business transactions. Alternatively, you might wish to pass the bookkeeping process on to us where, for a very reasonable fee, we take the headache away !
Is there any other advice I need?
There could well be, whether this is to help you organise your Estate for Inheritance tax mitigation, preparing a Will, drawing up any legal Agreements for your business or carrying out a review of your personal finances and Insurance cover. We can offer introductions to providers of all associated services.
How about Financing my business?
Setting up in business may require a source of financing to enable you to acquire the necessary assets or stock to commence trading. We can assist with this by helping to identify the extent of the finance required and also to approach any potential Lenders who could provide the necessary funds.
We have many years of experience in helping start up businesses and realise that this sometimes can be a lonely position to be in. We are always available to answer any questions and to provide support and reassurance just when it is needed.