Starting up in Business?
At Crompton Ward & Co we specialise in supporting new businesses and those with an idea that they are trying to get off the ground.
If you are considering taking an idea and making it happen, our role is to give you the support to bring the vision to successful fruition by dealing with the essential financial matters, allowing you to focus on the marketing and development of the new business.
There are three key areas where we can help you:
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| 1.) Providing a proper business structure |
It may seem common sense but it is very important that the correct structure (i.e. sole trader or limited company or one of the alternatives) is put in place before the business actually starts trading as it can be too late or costly to change things later. The structure can make a lot of difference to the tax you will pay.
Additionally the structure of a business should always be considered from a commercial point of view because what is best for tax is not always best for business. |
| 2.) Registration of the business |
A business needs to be registered with the HM Customs and Revenue for tax and VAT purposes and we will take the pain and uncertainty of doing this.
If a limited company is being used we deal with the set up and structure and necessary registrations with the Registrar of Companies. |
| 3.) The business plan |
A businesses plan is essential for any business and will be required by any bank or finance house before they will loan you capital.
If you can prepare one we can tweak it using our vast experience to make it more attractive, or offer guidance to assist you in preparing it.
If you are not confident that you can put a plan together we can prepare it for you. If you do need one to raise finance the fact that a professional has had a hand in its preparation will always boost your chances.
Even if you don´t need finance to start up your business you will still need a cash flow projection to manage your business effectively. You need to be certain of future cash flows and also you need something to track your progress against. After all the whole point of being in business is to make money and if you can´t assess how well you are doing you will be at a disadvantage. |
What we can bring to the table in addition to our experience in helping new and growing businesses:
- Any initial meeting to discuss how we can help you is free
- We will agree a fixed fee for the work to be undertaken (and in most cases payment can be arranged by standing order to spread the cost)
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