Top 10 Tips for Starting A Business by PAH Accounting

PAH_Accounting_LogoTop tips for starting a business

Below are PAH Accounting’s top ten tips of what to consider when starting your new business.

  1. Consider your business structure – Sole Trader, Partnership, Limited Company.

  2. Register your business with appropriate authorities such as HM Revenue and Customs and Companies House as soon as you start.

  3. Open a business bank account – Make sure you get a good deal.

  4. Identify working capital needs – speak to someone like Business Link as they may be able to get grant funding.

  5. Get your name out there – Use face to face networking, online forums and online directory resources as cheap ways to help boost the profile of your business.

  6. Buy your domain name – even if you can’t build the website yet get the domain to ensure you have the one you want.

  7. Keep on top of you administration and bookkeeping – Ensure you have a system in place to record transaction or employ someone to do it for you.

  8. Get a file and keep all of your business receipts – ensure this is then used to prepare your accounting records.

  9. Ensure your business is compliant with all regulatory factors – Get in touch with business link or another adviser to see what you need to do.

  10. Speak to an accountant or three – Most offer a free consultation meet, check out a few and work with the one you feel best suits you and your business. You may also pick up some useful information.

A more detailed article has been included on the PAH Accounting blog, feel free to contact PAH Accounting for further information.

info@pahaccounting.com

www.wiltshireaccountants.co.uk

01380 620031

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12 thoughts on “Top 10 Tips for Starting A Business by PAH Accounting

  1. Pleased to say I have done all of those. Thank you for the tips though, very useful and a good starting point for all those new to running a business.

  2. Hi Karen,

    I am glad you had already used similar ideas when setting yourself up. None of it is rocket science but you’d be surprised how many miss out on a few of them!

    Thanks Roland for keeping this particular post promoted, it seems to have been quite popular!

    Phil

  3. Simple yet effective article here, thank you so much for sharing a wonderful topic with us since lots of people are now looking for business and want to profit from it. A great food for thought! Kudos to you!

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