Starting a business involves careful planning, making key financial decisions and completing a series of legal activities. The amount of time it takes to set up and business and get it up and running is a time consuming process and if you are not aware of all the financial and legal implications could be very costly in the long run. You could even have criminal charges brought against you.
It is advisable from the outset to seek guidance about the best practices, strategies and business models that are most likely to succeed together with advice about what financial records you are required to keep by law together with the tax breaks you are entitled to.
Taxaccolega has a team of qualified accountants that specialize in start-up businesses and provide a comprehensive service to ensure you have a complete understanding about your legal responsibilities together with an easy-to-use system that helps you keep an eye on your finances. We also manage your accounts on your behalf and deal with all your tax affairs.
To give you an overview of the services we offer we have prepared an easy 10-step plan to demonstrate how we can help you plan, prepare and manage every aspect of your business to ensure you achieve the success you deserve and develop strong foundation from which you can grow your business.
There is no single formula for developing a business plan, but some elements are consistent throughout all business models. Your plan should include an executive summary, a description of the business, a plan for how you will market and manage your business, realistic financial projections and the appropriate supporting documents you are required to keep by law.
Take advantage of our expertise, training and counseling services, from preparing a business plan and securing financing to expanding or relocating a business.
We offer advice about choosing a business location that is customer-friendly and complies with relevant local laws. We will offer you tips about choosing a prime business location that meets your business needs without overstretching your budget.
The ideal location for your business depends on a number of factors. The most important consideration is the kind of business you’re running. Before you begin scouting a location, consider a few factors that can help you select the right business location.
1 – Determine your business activity
2 – Do your clients/customers come to you?
3 – Do you have employees?
4 – Do you have to go to your clients/customers?
5 – Ease of access
6 – Proximity to your competitors
7 – Local authority zoning policies & signs
Finance your business
This is the most vital consideration for any business. If you don´t have funds of your own to invest we can advice you how to obtain government backed loans, venture capital and research grants to help you get started.
Determine the legal structure of your business:
Decide which form of ownership is best for you: sole trader, partnership, Limited Company, Limited Liability Partnership (LLP) or non-profit i.e. trusts, charitie
Register your company or a business name:
Incorporate your limited company, register yourself as a self employed or register a LLP. For more information about forming a company see the advice in our ‘Online company formation‘.
Get business insurance:
We can help you seek out the best business insurances from Professional Indemnity Insurance or Public Insurance.
Register with local Councils or authorities
If necessary we will help you obtain licenses from relevant authorities that allow your business to operate.
Understand Employer responsibilities
We will advice you of the legal steps required to hire the employees.
Hire an Accountant
Accountants like Taxaccolega will manage your business accounts so you can free up time to concentrate on other aspects of your business and also advice you of the tax breaks your business is entitled to so you can save money to help your business grow. We will also tax care of your end of year tax returns and ensure you do not incur HMRC penalties for late submissions or incorrect completion of your Self Assessment Tax Return form.
To learn more about how Taxaccolega can help you set up a business call us today on 08000 235 234 or email us on firstname.lastname@example.org to arrange a face-to-face meeting or video conference.