site search

Starting Your Business

Deciding to start your own business is one of the biggest steps you can take. And obviously, you’re going to need all the help and advice you can get. At Cottons, we’re here to help you get your business off to a great start and we’ll be there for you throughout the journey.

There are many important decisions you need to make. Are you going to be self-employed and operating as a sole trader? Would a partnership be better for you? Or would it be more advantageous to set up a limited company? We can help you find the answers to all of these questions and more.

And we don’t just help you set up your business, we’ll be with you right down the line, giving you advice on increasing your profits, controlling your cash flow and managing your business for greater profitability.


Your business plan


This is a document that’s crucial at the start of any business, not only will it help you to set out your case and provide solid financial information to raise capital to get the business off the ground. It can also help you to clarify your own thinking and often shows up weaknesses or uncertainties that need to be addressed. Cottons can help you prepare your business plan, and give you specialist advice and useful hints particularly when it comes to raising funds for the business.


Premises


This is another important decision you have to make as a new entrepreneur. Where do you base your business? Is owning or leasing better for you? Are there any grants or government assistance available to you? Are there any small business start-up units near to you and would this be a good option? We can help you find the answers to all of these questions and outline the taxation benefits once you have decided on your base.


Fundraising, banks and loans


We have a great deal of experience and in-depth knowledge of the investment market and the avenues which are open to you should you need to raise funds for the business. In fact, we’ll be happy to act as your guide and suggest who to approach, as well as the most appropriate capital investment sources in the marketplace. This is an area that also involves a strong link with our corporate frame work. www.cottonscf.co.uk


Cash flow


A healthy cash flow is the lifeblood of any business. Conversely, a poor cash flow is the single biggest reason for business failure in the UK. Clearly then, cash flow management is absolutely essential to your business success. Our experience gained over a number of years with many different clients helps us to spot the warning signs early on. And we can tell you what steps to take to improve your cash flow and keep your business running smoothly.


VAT


When you’re starting up, do you become VAT-registered or not? There are pros and cons to both sides of the argument and what will be best for one new business won’t be a smart decision for another. We’ll talk to you and help you to understand the positives and negatives, so you have all the information you need to make the best decision for your business.


PAYE and National Insurance


When you’re starting a business, you want to spend as much time as possible on productive activities – seeking new business, talking to clients and maintaining a healthy cash flow. You certainly don’t want to spend a vast amount of time on PAYE, National Insurance and payroll administration. Moreover, employers these days are facing an ever-increasing burden in having to make the correct deductions from employees’ pay. At Cottons, our payroll bureau can do all this for you and leave you free to concentrate on building and running your company.


Tax


Tax can be a minefield for any new business start-up. But with the right advice, you can make sure that your business operates in the most tax-efficient way. We can give you a straightforward, uncomplicated explanation of the tax rules that affect you. While our informed advice can help you to reduce the amount of tax you have to pay. Also with a system of reminders and guidance we ensure that you find out your liabilities in a timely manner.


Accounting


Obviously, this is our key strength and the core of our services to start-up businesses. We can take care of your interim and year end accounts, monthly management accounts, VAT returns, bookkeeping and computerised accounting. We can either do it all for you, or provide easy-to-use software and train you on doing it yourself. It’s entirely up to you and the time and desire you have to do your own accounts! For more information, go to our Accounts and Audit services section.

Next Step:

Please contact us if you need further advice, have any questions about our services, would like a free consultation.

 

I've forgotten my password Need an account?

X
I've forgotten my password

x