Starting in Business
Our multi-disciplinary tax department advises businesses, companies and individuals. We are happy to act for clients on a regular basis as well as clients who need one-off tax advice to solve a specific problem.

Small Business Team
Our small business team can help you make some vital decisions when setting up in business. We can help you with the

The Business Planning Process
Your business plan is an essential business tool. It sets out how your business will operate and should be regarded as the route map showing where you are now, where you want your business to be and how to get there. It will help focus your ideas and should be produced whether or not you need to raise finance for your business. It can help test the viability of your business before you commit any money to it. It also present a mechanism to measure actual costs against budgeted ones.

• Understanding Your Market
  Market research forms the foundation of your whole business plan. Market research is an ongoing activity and information needs to be gathered and updated regularly to stay ahead of the market.

• Legal Issues
  You must be aware of the laws relating to running a business before you start trading. You should be aware of the pros and cons of choosing a legal structure as a sole trader, a partnership or a limited company. You should also be aware of the regulations regarding the registration of trade names, the dealings with the HMRC, National Insurance, VAT, Working from Home, Licensing, Health & Safety, Employment Law and Intellectual Property amongst others.

• Financial Considerations
  Appropriate financing of your business is crucial to its success. Your business may need finance to purchase capital equipment and fund start up costs and also provide working capital. There are various sources of finance available to small businesses such as Banks, Loan Guarantee Scheme (LGS), the Prince's Trust and from your own resources. It is important to keep proper financial records and manage the level of cash that the business has access to via cash flow management.

• Marketing & Selling
  Marketing is essential to retain a regular flow of sales and work. It is also essential to note that Marketing has to be an ongoing process. Market research can help you make decisions in key areas such as focussing on target markets, deciding on your product and pricing mix, distribution and location and modes of promotion and advertising.

• Location, Location, Location
  Finding the right business base can be crucial to the success of your business. The decision to move into a commercial property can have potential disastrous consequences if not properly thought out. It is prudent to consult a solicitor or experienced business advisor before signing an agreement for commercial premises

To find out more about our Starting in Business Services, please call us at +44 (0)1223 507080 or email at info@tax.uk.com