Business Start-Ups

Why an Accountant is the First Source of Advice for Start-Up Businesses

Strange as it might seem at first, the best source of all-round business start-up advice should be from a firm of Accountants. After all they should be more than simply Accountants; they should be Business Advisers too.

But why would you want to turn to an Accountant first. Don't you look for an Accountant later down the line? Doesn't it make sense to turn to a Bank or Enterprise Agency for that first-step advice? Or what about Business Link or Government Gateway Service- they do that sort of thing don't they?

Well actually they don't. In fact, Business Link as a face-to-face business support organisation doesn't exist anymore, so you can't turn to them for an independent personal assessment of your business idea or plan. As for a Bank or Enterprise Agency, well clearly they can advise you, but they probably can't help you see every aspect or detail of the business start-up process, all at one sitting.

So, turning to an Accountant makes absolute sense. No it's not too early in your business evolution to talk to an Accountant with Business Advisor credentials. Talking to an Accountant before you start to trade is a logical thing to do. Why?

  • Even before you decide to start-up you'll need to consider what's the best type of business entity to form - sole trader, partnership, limited company, limited liability partnership - each has its own merits and upsides. The decision you take at this time can be the difference between success and pain down the line.
  • Your Business Plan shouldn't just be a set of financial hopes and expectations; it should contain vision, strategy, business generation and marketing plans, operational processes and a clear statement of how you'll make best use of the human resource in your business.
  • Yes of course finance is very important -financing options, cash flow, insurances, taxation planning and how you deal with HM Revenue & Customs.
  • Get your Accounting records right from the start - in fact before you start- can make all the difference to an emerging start-up business; from qualifying pre-trading expenditure to tracking sales and purchases; from dealing with motor expenses in the best way to payroll and VAT.

This is where speaking to a Business Advisor at Ellis & Co can make all the difference. We can do all of this; and what's more as a Chartered firm of Accountants and Business Advisors we do it regularly. We hold regular informal, low-key Start-up Workshops that people like you really benefit from. This is what one business start-up said recently after one of our Workshops:

 "I attended one of the workshops at Natwest Bank's suggestion and found it a really useful way of gathering information and advice critical to the long term success of my business. In one easy- to-digest session I gained a huge amount of knowledge about how to run and grow my business in such a way as to ensure long-term sustainability. The workshop was relaxed, informal and totally without any pressure at all."  

Matthew McHale, La Baguette

 

So there it is. Talk to an Accountant first - it's the logical choice.

At Ellis & Co we've been helping budding entrepreneurs for years - just ask them; after all some of them are now our longest-established clients! We have accountants, business advisors, business mentors, business development and marketing resources here to assist you in the most comprehensive team of start-up support available anywhere in the Cheshire and North Wales areas.

So call us now or register on one of our upcoming Business Start-up Workshops. It'll probably be the best advice you get before starting up!