Starting a business comes with a steep learning curve. It’s not just about nailing your product or service. It’s also about learning the skills required to run a business.
Financial planning and accounting, marketing and sales, and leadership or management are all skillsets expected of founders that you might have never developed as an employee. So, having someone in your corner who can help you to navigate these challenges can be an asset. That’s why many start-ups in and around Swadlincote choose to hire Buckler Spencer as their business adviser, to help them get their idea off the ground. Here’s how we can help:
1. Creating a realistic and practical business plan
Creating your business plan isn’t about drawing up a document that’s destined to sit in a drawer gathering dust. It’s the basis for your whole business.
A business plan ensures you have clear goals and a cohesive strategy for achieving them. It gives you an awareness of what your competitors are up to, provides a plan for marketing your business, and forecasts what your finances should look like, so you know if you’re on track to meet your goals throughout the year.
At Buckler Spencer, our start-up business advisers can help you form realistic goals and projections and offer advice on how to meet them. We offer simple, actionable guidance to help you achieve success.
Our expert advice and wealth of experience allow us to identify the hidden costs you might have missed that are likely to crop up in your first months in business, alleviating any nasty surprises down the road.
We also have the added power of local knowledge, built over years of experience working with businesses in a whole range of sectors. Our knowledge of Swadlincote’s business landscape means we can even more specifically tailor our advice to your business starting up in this area.
2. Choosing the right legal structure
Choosing the right legal structure is one of the first stages in starting a business. Each option comes with its own risks and rewards, so choosing correctly from the beginning can save you a whole lot of hassle (and money) further down the road.
The right option can help ensure that you’re tax-compliant and efficient from day one.
Again, our knowledgeable and experienced business advisers can help you to make informed choices based on your long-term goals, rather than relying on guesswork to make this critical choice.
We can even help you get set up, assisting with tasks like registering with Companies House, giving you peace of mind that everything is set up correctly.
3. Registering for tax and staying compliant
Whichever legal structure you choose, you’ll need to register your business with HMRC and report your earnings at the end of the tax year. Navigating HMRC can sometimes be a challenge, and having someone who knows what they are doing can streamline the process.
Our advisers can help ensure that you’re registered for the correct schemes for your setup, such as self-assessment, Corporation Tax, VAT and PAYE, ensuring you’re tax compliant while minimising your admin where possible. We can also help with your bookkeeping and make software recommendations tailored to your business needs.
4. Finding the right funding and financial support
Your business may be eligible for funding support in the form of grants or loans. Our start-up business advisers have a vast bank of knowledge of the support available to you.
Once again, it pays to have a local adviser with knowledge of funding available in the Swadlincote area.
We can also help you with your applications, building cashflow forecasts and putting together a professional plan that looks credible, increasing your chances of securing the funding you need.
5. Staying compliant as you grow
All industries come with their own rules and regulations, as well as pitfalls if you don’t comply.
Hurdles like data protection, licensing and insurance can be confusing to navigate without expert advice.
Staying compliant from the start can save you from costly slips further down the road.
Our business advisers can help you to catch any issues early on, before they develop into real problems, giving you the peace of mind of knowing that every box is ticked when it comes to compliance.
How Buckler Spencer supports new businesses in Swadlincote
At Buckler Spencer, we can help you get your business off to the best possible start. With years of experience working closely with local businesses like yours, we understand the challenges start-ups face in the Swadlincote area. Our advice can save you time, reduce risk and help you build a successful business that stands the test of time.
So, if you’re ready to get your business off the ground, book a session with one of our start-up business advisers today and get the support you need to start strong and grow with confidence.