Starting a new business can seem a daunting prospect. Four in ten new businesses do not make it through 5 years, so it is imperative the right advice is sought from the outset.
The Sharp Wesson team, will take as much time as you feel is required to guide you through the various tax, accounting, VAT, payroll & company law issues that require consideration.
Investing time at the start of your new business can only increase your chances of success.
New Business Package
The various business structures to consider include:
- Sole trader
- Limited company
- Limited liability partnership
Having discussed all matters in detail, we will then deal with all compliance issues such as registering with HMRC, dealing with Companies House, registering for VAT & registering a PAYE scheme.
Should a limited company be the best business structure for you, we can usually form your new company within 24-48 hours. We will ensure the share structure of the new company allows flexibility & tax efficiency.
We will guide you through your statutory record keeping obligations and provide you with templates from the outset ensuring that your records are accurate from day one.
We can also make software recommendations & provide training.
It may be the case that your bank or private investors require a business plan. The Sharp Wesson team have extensive experience of preparing business plans for a multitude of different business sectors.
Cash Flow Forecasts & Budgets
This is fundamental for all new businesses.
The saying ‘cash is king’ is never more important than for a new business. Sharp Wesson will work with you to prepare cashflow projections & budgets to prove the financial viability of your business.
The importance of managing your business cash can’t be underestimated.