Best person to see about starting a business?
I am hoping to start my own business.I don't need any financial backing and just want to know the ins and outs of tax, public liability ,what insurance I need etc. I would like to discuss it with someone rather than look up info online.Should I go to my bank or an accountant. I have done alot of research and just need to get started
Small Business - 9 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
First, check out the local chapter of SCORE (you can find it at http://www.SCORE.org). Then consult with both your banker and an accountant. You ask questions that fall within different categories and you should attempt to get the answers from experts in each category.
Answer 2 :
Many local councils have teams of people who are there to offer sound advice to folk with new ventures, I would use these as they may have good insight as to where all aspects of trading are considered.
Answer 3 :
Best place to start in England is Business Link, http://www.businesslink.gov.uk which is the governments access point for all business support. As well as online and telephone support if you have specific issues they can put you in contact with business advisers. What you are asking for is covered in depth on their website
Answer 4 :
If you prefer to talk to someone, you should contact SCORE ("Counselors to America's Small Business"). Score "is a nonprofit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide." "SCORE is a resource partner with the U.S. Small Business Administration (SBA)." http://www.score.org/index.html You will have to access the internet, but you do have the option of entering your zip code, so you can find a office/counselor in your area, for in-person mentoring.
Answer 5 :
POST YOUR DETAILS TO RAJEEVJAINSB@YAHOO.COM
Answer 6 :
An accountant would be a good place to start (but then I would say that). However the key thing is to speak to someone who has been in business for themselves (which most certainly wont be a banker). Having been in business for myself for the many years I have known the ups and downs such a lifestyle brings and my experience to date tells me to search for knowledge from people that have been there, done it and crucially are happy to share the information with you. Sometimes that search can take a long time and you may have to kiss a few frogs along the way – which can be very costly! I have been lucky enough to have met many individuals who are happy to do so and I am delighted that the launch of my radio programme BUSINESS WITH ATTITUDE has brought together such a fantastic wealth of knowledge and experience that we can all benefit from. In this weeks programme, David Nicoll poses the question “Are you a Natural Entrepreneur?†and shares some crucial thoughts about what is the natural make up of such a person. David is a very successful Accountant and deals with many serial Entrepreneurs through his practice and witnesses their approach on a daily basis – plus he is a mean Entrepreneur in his own right! Michael Markham bought into a business whilst employed by them and built a large and highly successful organisation -plus several that frankly didn't work! He shares his experience of how to look at a business in the early days . Kate Russell has built a successful employment law organisation -an area where most Entrepreneurs get very nervous, yet by applying the basics life doesn't have to be that difficult or scary. And best of all, it's free with no sign up required!
Answer 7 :
First, i would stay away from SCORE. they are 80 year old retired guys that cant work a computer. Many of their advisors have been out of the work force for over a decade and arent keen to small business. Many consultants exist out there and can help you.
Answer 8 :
I'm with Gary on this one. If you're in the UK, speak to your local Business Link. They run free seminars on starting in business that run through all the questions you've asked. Most business bank managers have no experience of running a business. They're hired to help the bank run its business not help you with yours. Accountants usually charge for their time. Why pay them when you can get the help for free from Business Link? Inland Revenue are good, too. They also run seminars on starting in business. The only bit they won't cover is the insurance side of things - not their area of expertise. Business Link does cover that. Good luck with your business
Answer 9 :
Go to an accountant! The bank will tell you what the rules are etc but an accountant will show you how to save money. Even if you only keep the accountant for the first year, then use the experience you have gained to run things yourself after that. He will save you far more than his fee costs! He will explain tax allowances, national insurance, insurance, liability, employment rules, book-keeping, etc. We are a small business and getting a good friendly accountant was the best move we ever made. There are so many things that we hadn't even thought of. He has saved us literally thousands over the last 3 years. And he will keep you up to date on any changes in tax or employment law.
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