Discover everything you need to run a profitable and happy business. We are here to help you on that exciting journey.
If your business is in growth mode take advantage of our proactive accounting support services...
If you are selling or buying a business, or even looking to retire let us help you plan the most tax efficient way to do it...
Congratulations on starting a new business, you are joining an increasing number of people who, by taking the leap to self employment are making a vital contribution towards the UK’s economic growth.
According to the Federation of Small Business there were a record 5.4 million private sector businesses at the start of 2015 representing an increase of 146,000 since 2014 and 1.9 million more since 2000. The combined annual turnover of SME (small and medium-sized enterprises) was £1.8 trillion, 47% of all private sector turnover in the UK.
There is little doubt that starting a new business is one of the most exciting and potentially rewarding life decisions you will ever make but, as with most big choices, setting solid foundations will determine how successful you will be and how quick you can turn your business idea into profit. There is a lot to think about, from writing the initial business plan through to raising finance, marketing, product development, staff, technology, software and crucially, how the structure of your business is set up from an accountancy point of view.
The choice on whether to set up as a sole trader, partnership, limited company or LLP is an important one as it will determine how your business is viewed from a trading and tax perspective. Getting this right at the outset means maximising your profitability and paying exactly the right amount of tax.
At Indigo we really understand the needs of small businesses and have been helping people just like you to realise their dreams for over 16 years. From company formation right through to all your key accounting and taxation needs we can help. For a free, no obligation chat about how we can get your party started please call us on 01403 892683.
Having established your company it’s important to schedule time for regular check ups to ensure the overall financial health of your business. Businesses in growth mode often regard the state of their bank balance or a feeling of “being busy” as a mark of their success.
The truth however can only be found with robust and highly visible management accounting information. Knowing where you are at the click of a button is a vital component of running a successful business and allows you to avoid issues such as poor cashflow, over/under trading or penalties for late tax return submissions.
In addition it’s important to consider the trading status of your business. Is it time to step up from sole trader to limited company? Is your accounting software giving you what you need? Is it time to outsource your payroll?
If you are looking to retire, sell on or transfer your business we can help. With a wealth of in-house experience we can help you plan the correct strategy. We advise clients to talk to us as early in the process as possible.
People choose to exit a business for many reasons. We hope your exit is for all the right reasons and that a sale or transfer will yield a happy future life. For many people however exiting a business may not be an easy option both financially and emotionally. Here at Indigo we understand the issues surrounding selling, merging or liquidating a business and work sympathetically with you and your solicitor to get the very best for you and the ones you care for.
For a free, no-obligation chat about your circumstances please call us on 01403 89268.
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