These pages are designed to give you an overview
of the main considerations for small businesses
in the UK. Although, we have made every effort to
ensure that the information is accurate and up to
date, it is advisable to take professional advice
before making any important decisions. (For local
companies/organisations who are prepared to help,
please select your area from our regional
pages.)
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Banks and Plan
Get a good financial plan / cashflow together and negotiate with your bank to get cheaper bank charges and an overdraft just in case you need it during the first difficult few months
Vince Lavin.
(01-09-10)
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Accountant as a Partner to your business
Always find a firm of Accountants who are used to dealing with new business. They will know the hurdles and pitfalls you will face in the first year and will be able to guide you through them. A good accountant should be, in effect,a business partner as well as an advisor.
Salter-McLean.
(01-09-10)
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Keep Costs to a Minimum
You don't need fancy systems when you first start off. Just keep a track of all items bought and sold. Seperate paid items from unpaid so its easy to see at a glance what you owe and what you are owed without ploughing through reems of paperwork. File small receipts in a box file as hole punches tend to go through the important data. Get advice from an accountant early on as to what you can and can't claim in costs. KEEP ALL RECEIPTS. Unwanted ones can always be thrown away later.
Aims Accountants for Business.
(01-09-10)
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Grow your Network Online & Offline
It's all about "Find Me, Know Me, Like Me, Trust Me" Ensure you have effective profiles on LinkedIn.com, Facebook & Twitter. Add to this Naymz.com and WeCanDo.biz For Offline the "must Read" is "Business by Referral" & Networking Like a Pro by Ivan Misner (BNI & The Referral Institute)- for strategy for 'real world' networking strategy for joining Clubs, Groups, Organisations see p20 of Business by Referral.
Business over Breakfast (BoB) Club - Bristol
(31-08-10)
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Not as hard as it seems.
When it comes to running a business, its not as hard as it seems. Get you books and records in order, set time each week to sort your paperwork and you will save time and money and it will also allow you to concentrate on what you do best.
Merlion ABS.
(25-08-10)
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Plan for HMRC payment deadlines.
Help prevent any unpleasant tax billing surprises by opening a business savings account. Set up a standing order from your business current account and transfer a percentage of your income to your savings account each month. Remember you will also need to make provison for next years tax bill too (under the self assessment payment on account system). Simple advice, but planning ahead in this way really does work
Admiral Tax Investigations.
(22-08-10)
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Business Networking is essential,
Business networking isn't new, its building trust between business people over a period of time, through getting to know each other. It is essential to get into this habit as a new business.
Slaney & Co. (Chartered Accountants)
(19-08-10)
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HMRC want an interview?
Don't attend any HMRC interview or speak to an officer without seeking professional advice first
Kinsella Tax Investigations.
(19-08-10)
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Tax planning
Be proactive when it comes to tax planning. Seek the advice of a tax professional and mimnimise the risk of a future tax investigation being launched in the future
Admiral Tax.
(13-08-10)
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Tax Planning
All new businesses should aim to plan their tax strategy effectively from the outset. Poor planning and tax management can lead to compliance problems further down the line.
Admiral Tax.
(13-08-10)
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Research
Research of your core market is key. Fail to prepare, prepare to fail
Admiral Tax.
(12-08-10)
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Tax Strategies
It's almost impossible for a business owner to have comprehensive knowledge of every aspect of corporate taxation. Consult an accountant to develop tax strategies to maximise your business profits.
Harnett Accountants.
(04-08-10)
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Why use an Accountant?
The right accountant can be a valuable asset to your business and in many cases a good accountant can be the difference between business success, and business failure. If you are just starting out in business or if you have an established business which is growing, or even facing difficulties, it is important to review your business� needs so that you are equipped to maximise your business' full potential.
TaxAssist Accountants.
(03-08-10)
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Financial Year: Trading from date
If you are a sole trader, when you begin trading may affect how much tax you pay on profits made in your first year, which in turn will affect cash flow! Advice from a professional on this matter may save you ££££s better spent elsewhere in your business!
Easton & Co.
(01-08-10)
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K.I.S.S.
Keep it Simple Stupid! Don't over complicate matters. Have a to-do list that is checked daily but break down tasks into small but manageable chunks. Everything will come together in a logical manner and you won't miss anything out!
Numbers Without Tears Bookkeeping Services
(27-07-10)
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Set Goals
Set Goals and break them down, work on achieving each goal bit by bit. This will make them more manageable and you will feel successful as each goal is completed.
Simple Accounting.
(26-07-10)
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Save Tax! Keep those receipts!
It's simple, the more receipts you keep for your accountant, the more they can set off against your tax bill, the LESS tax you pay.
Mazuma.
(18-07-10)
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Planning
Before you start a business ensure that you plan extremely well. Research the area that you will be starting you business to make sure the competition isnt too force that you will struggle to get a foot hold. Always remember to keep on top of accounts from day one to avoid anything getting out of control.
Richard Taylor.
(12-07-10)
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Think about your books!
Bookkeeping may not be the fun part of running a business, but if you forget to keep your records not only will the 'taxman' not be happy you but you will never know if you are making or loosing money!
Holden Associates.
(12-07-10)
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Always plan ahead
When starting out... having a business plan is vital. Not only for financial planning and marketing, but to provide a stable foundation for your business to grow. Fail to plan = plan to fail.
SSP Bookkeeping Services.
(06-07-10)
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Management accountant Dorset
Management Accounting - Management Accounting - Meaningful & Focused Financial Information
Clarity Business Financials Limited.
(27-06-10)
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Self employed Vs Limited company
Where new enterpreneur was employed prior to setting up business, choosing sole trader to limited company may result in refund of some taxes depending on how the new business is expected to perform in its first few years of trading.
Accounting Simple.
(21-06-10)
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Ask Questions
Take on as much advice as possible as each business is unique.
Roz Roberts.
(21-06-10)
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Sort out your private life
A new business is like a newborn child in that it demands a lot of attention from the entrepreneur to get it off the groud. Often this increased demand can wreak havoc with your private/family life as friends family and partners wonder why you are spending less time with them. Explain what you are doing and why do are doing it with those close to you. Share your dream and get their buy in and support. In addition to keeping things amicable on the home front you might win considerable sales leads and advice from friends family and other well wishers and substantial brownie points from your partner.
Compliant Accountancy & Tax.
(13-06-10)
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Stress Free Accounting
Autosum Accounts is a user-friendly, web based management accounts application designed to keep pace with changing technology and particularly to suit new-start and small to medium sized enterprises yet sophisticated enough to appeal to the larger business and the accountancy profession. For a Free Trial on release of the Web-Based Management Accounts Application Log onto www.autosumaccounts.com
Autosum Accounts.
(07-06-10)
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