Target Accounts

Starting a business
When you make the decision to start up your own business there are many things to consider : time that needs to be devoted to running a successful business, the effect on your lifestyle and what you want to achieve. Key questions before starting out are:
“What do you enjoy doing
“What skills and experience you possess
“Have you researched and do you understand your market.
“How to achieve your goals.
To run a successful business you need to consider the 4 Ps – Passion, Planning, People and Practicalities.
Passion if you don’t enjoy what you are planning to do,
should you be doing it. Planning an on-going process not just when you are starting up.
People, no-one even the famous entrepreneurs can made it alone, most need somebody to help focus your ideas and keep you on track with your plans. Once your business is up and running you need to think about staff, suppliers and customers. Practicalities – how do you get your start-up right? How do you get all the information about tax, VAT, employing staff, computer software, where to run the business from , target market, advertising and marketing – the list goes on. Many starting up a business are good at what they do but have little idea about what is involved in running a business such as understanding financial information and compliance with the taxation authorities. It is important to take time to find out what you need to know before you start out as errors later on can prove costly.
There are many sources of information such as the HMRC, BusinessLink.gov.uk and professional advisors. If you have decided to set up in business and need help please feel free to contact us on 01449 798444 or greg.coomber@targetaccounts.co.uk for a free initial consultation.