New Business start-ups
If you are planning on setting up a new business, you have just made the first right move.
Planning and careful consideration are required to ensure the success and smooth running of any new venture, which in most cases appears as a large step into the unknown.
Whether you have a new idea which you feel you can profit from in the form of a new business or as an extension to an existing business, careful consideration will be needed to maximise success.
There are many rewards associated with being self-employed, but careful planning is required in order to succeed.
It is important that you take initial guidance from people that have experience in this field and understand all the key factors which must be considered to permit successful implementation.
Funding & Grant Support
Any business requires capital investment to help it take-off. There are many sources where funding can be acquired for start-up but they all comes with different levels of cost.
Most lenders expect to see your financial commitment matched with theirs. With regards government funding this can be made in many different forms, some with payback clauses and some without.
It is important to get assistance from people that understand how to acquire finances and what level of finances are really needed.
Business Plans are a key document for displaying your understanding of you proposed market place and how you intend to profit from it. Our company can help in the compilation of these from past tried and successfully tested layouts and tailored content.
Stages of implementation
Your question may be - ‘So from where do I start?’
One small idea can be the start of a great business, however an understanding of the stages of implementation of that business model are vital for your idea to be a success.
To understand the potential profitability of your new idea you must first gather an understanding of the total costs associated with the venture, and these costs are not always obvious. Hidden unplanned costs can be the downfall of a great idea. If these are not known, identified and planned for, all chances of profitability can be hindered.
The correct experienced accountant can help you with an effective cost understanding and guide you in the setting up of your new business in the most cost-effective way.
In the past 35 years of trading our business has seen many companies come and go and we know from our experience what you should do and consider ensuring the success of your new business.
New Business Status
Whether you decide to set your business up as a Sole trader, Partnership, Limited Company or any other is of vital consideration from the very start. We can guide you through this, helpfully explaining the benefits of each and what shall be most appropriate for your new venture.
It is important knowing from the outset the full tax responsibilities that you shall have with your new business. This is one of the most important elements in planning your new businesses future profitability and cashflow.
Having the right Accountant
It is important from the start that you have the right accountant to guide you through all the stages of your new business set-up, ensuring no important areas are missed out.
Qualification and experience are very important attributes of your professional accountant and the experience should come from the business field that you intend entering.
At J.A.McNicholl & Company Limited we work with a wide range of businesses and have done so for nearly forty years. Our experience is based in both chartered and management accounting professions.
We aim to offer a friendly and understandable service to help grow small and infant businesses into long-term successful performing organisations.
Please contact us today to discuss your requirements and book a meeting to get your small business ideas off the ground.