Business start up advice – early days
Talk to an accountant before you start your business. They can advise whether you should be a sole trader, partnership, limited liability partnership, or limited company as well as any legal and tax issues you need to consider. Advantages and benefits of using a qualified accountant
- They’ve studied and passed exams in accountancy
- They’re continually monitored by their professional to make sure they are techncially up-to-date
- They’re bound by strict regulations on ethical and professional conduct
- Their professional body undertakes regular checks on them and their business
What Northcott Trumfield can do for your business
Give advice on raising finance
An accountant can advise whether new capital equipment should be leased or purchased, whether cash for your business should be raised by issuing more share capital, taking out a loan, or increasing your overdraft. Check out the SME Funding Adviser Scheme run by the Institute of Chartered Accountants in England & Wales.
Give advice on running and managing your business
An external, independent, professionally qualified, and impartial view of your business can be a great help, especially if you work alone. An accountant will help you translate ideas into plans and with profit forecasts, break-even analysis and cash flow forecasting, as well as putting systems in place to monitor your business.