If you are just starting out in business you will probably have lots of questions especially when it comes to managing your finances.
Many banks will want you to prepare a forecast of your income and expenditure before they will consider you for a loan or an overdraft and many need this even to open a business bank account. That can be daunting if you really don't know where to start and what you should include.
You may wonder whether you should be a sole trader/self employed or a limited company. What are the benefits of each for you and for the growth of your business?
Then there is the question of becoming VAT registered. Would it be beneficial for you to register from the outset or should you wait a while to see how the business does?
And then when your business takes off you may be wondering how best to keep a record of your income and expenses so that you are able to see how you are doing and report it to HM Revenue & Customs so that you pay the correct taxes. Should you use a notebook or a spreadsheet or some accounts software?
You might then wonder if you are claiming all the expenses for your business that you can or whether you can include expenses which you paid for yourself when there wasn't any money in the business bank account.
We work with a lot of new businesses and each business owner has different questions. Some are very specific to the type of business but mostly business owners want to understand what they need to do, how and when.
We love working with new business owners. They are so enthusiastic about what they do and want to understand everything so that they get it right. We have lots of experience and knowledge to support them and are able to ensure they set up their record keeping correctly from the start. And, more importantly, we provide new business owners with peace of mind.
So whether you want to do it all yourself or would like some help with some or all of it we will support you with managing the finances in your new venture. Our bookkeeping support for new businesses starts at just £30 per month and will release your valuable time to work on your business. In return you will have peace of mind as well as a friendly and professional contact on hand to give you advice and guidance when you need it.
If you don't need any bookkeeping support you could choose to do some accounts software training so you know how to use it in the best way for your business. Or have a New Business Consultation so you can get answers to all the questions you have relating to the finances of your business.
Contact Sandra Silk on 01722 341820 for help getting your new business finances set up properly.