Woodwards Accountancy & Taxation Services

Business Start-ups

Business Plans

What is business planning? I want to open a shop selling x product, that’s all I need to know! Actually, good business planning makes the difference between a successful business and a business that will fail within a couple of years. What are your expansion plans? Where are you going to get your customers from? What advertising will you do? What regulations are out there? Putting all of this into a business plan will enhance your chances of making the business a success. You will have mapped out your plans and what to do when. But remember, a business plan must be flexible, it must be able to adapt to unforeseen conditions, to take advantage of opportunities, to adapt where the plan is not working as expected. I will sit down with you and help you work through the questions you need to ask yourself, and together we can build a business plan that you can refer back to.

A Business Plan does not need to be War and Peace! Keep it simple, brief and to the point.

Cash Flow Forecast

So you’ve got your business plan, but what about the figures to back it up. What finance are you going to need (and where from) and how are you going to pay it back? We can work together to build a budget and cashflow forecast showing the cash requirements of the business, its maximum level of finance required, and how the business will pay this back. Various scenarios can be built in, such as 20% better or 20% worse trading. Even if you are in the fortunate position of not needing financing, this can provide a comparison to your actual trading results and show you quickly if you are going wrong.

Businesses with Plans and Budgets are more likely to obtain funding than those without.

Company Formation

You’ve decided that the best structure for your new business is a Limited Company. But how do you form it? I can do this for you, discussing what Share Capital to have, where to locate the Registered Office and other related issues.

In order to create a Company online, I will need certain personal information from you – this is to conform with Companies House requirements.

Registration for VAT

A new business should not need to register for VAT immediately, unless it is expecting to achieve turnover in the next 30 days over £78,000 (check), or it has a zero rated supply, in which case registering voluntarily enables it to claim back input VAT immediately.

In either case, I can register the business for VAT online.

Registration for Payroll

If you are taking on employees, you will need to register a PAYE scheme. This gives you an employers account reference, and sets up the necessary RTI requirements.

I am able to register you online for a PAYE scheme.

Request a Call Back

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Woodwards Accountancy,
Paignton, Devon TQ4 7SN
Or call Alan Direct, on 01803 228628

© Copyright 2014 Woodwards Accountancy

Woodwards Accountancy, Paignton, Devon TQ4 7SN T: 01803 228 628

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