At Fennell &Co Accountants we welcome new businesses to come and speak with us. We can help from day one to find the right bookkeeping solution and the best tax savings for you. We will help to break the cost of your accountancy down by setting up a standing order for you to pay your fees monthly, this will help your cash flow significantly, REMEMBER CASHFLOW IS THE LIFE BLOOD OF ALL BUSINESSES!!!!!

Business Start-up Resources

Please click on this link to take you to our free business start-up resources page where you will find lots of helpful articles about issues you will face whilst running your business, business plan templates, guides and lots of other resources to help you out.

Fennell & Co Accountants can help you in all aspects of your business in the early days right through to your exit, but areas of most importance to you at this moment are:

Business Structure

Are you going to operate as a sole trader, partnership, limited liability partnership or limited company? There are lots of things you need to consider when selecting your business structure, some of them are: the commercial risk, potential profitability, financing and of course TAX. We can help you through this vitally important process to ensure that you get off to the best possible start.

Financial Year

When should your financial year end? This is actually very important to your business. Is your business seasonal? Is there going to be a quieter time of the year when you will be able to spend the necessary time to finish off your books, ready for us to prepare your financial statements and tax returns. Selecting your year end can also mean that an increase in your profits are more slowly reflected in your tax bill.

Business Plan

FAILURE TO PREPARE IS PREPARING TO FAIL!!!!
We have all heard this saying, but it is non more true than for a new business. Your business plan is one of the most important things that you will do during your start up phase. An effective plan will not only help you gain funding but will help to clarify your business objectives.

There is a useful business plan template and help and advice about it in our Business Start-Up Information Resource Page, there are also helpful tips and advice as how to get the most out of it. We can help you complete your business plan and we feel that this is a very important part of our initial interaction.

Banking

Identify the bank manager for you – this is very important, you need to build a good working relationship with your bank manager and you must find one that you are able to work with best. When you are meeting bank mangers it is crucial that you are well prepared. We have relationships with many banks and will be able to help you select the right bank for your business.

VAT (Value Added Tax)

Is registering for VAT from the outset in your best interest? Or should you register at a later date? Or not at all if your business is outside the scope of VAT? The decision you make at the outset will affect both the profitability and cash flow of your young business. Please refer to our VAT section for more information.

 

Our work does not stop when your business is up and running!

In fact it has only just begun, we can continue to work with you business to ensure that your business is as profitable as possible and your tax liability is as minimal as possible.

Fennell & Co Accountants would be delighted to assist in the preparation of your business and help you and your business grow and prosper, if you would like to discuss your business with us then please contact us.