Business start-up

Most people starting up in business in the Harrow area do so because they have a good business proposition and the enterprise and commitment to see it through.

Most however are not experts in the legal and financial aspects of running a business and such matters can appear daunting. Fortunately you do not need to be an expert in these fields to succeed in business, but you do need the support of a team of trained experts.

We will help you to:

• decide on the most suitable structure for your business - sole trader, partnership, limited liability partnership or limited company
• establish a good working relationship with your bank
• complete any registration procedures with Companies House and HMRC
• deal with company secretarial issues
• set up a recording system for your internal use and for complying with statutory requirements
• decide on what computer hardware to buy and help with the installation of accountancy software
• keep on top of bookkeeping, VAT, payroll and other accounting requirements and
• help with all aspects of business compliance and administration

Watch out for a common pitfall of running a new business

We are always delighted to see new businesses forming in Harrow. Such a trend reflects a flourishing economy in this north-west London borough, major companies with bases in which include the photography giant Kodak and gambling giant Ladbrokes.

There are many reasons why, if you form a business in Harrow, a long period of success could await you. For example, being based in London, you would be able to draw upon many of the same valuable local resources from which other companies in the capital have benefitted. Furthermore, Harrow is home to the London Underground station named Harrow-on-the-Hill, meaning that you and your workers would be able to get to and from the office with ease.

However, we would urge you to guard against complacency. While choosing to "go it alone" might initially excite you, it could also daunt you. It's a step that requires a leap of faith on your part - and you aren't guaranteed to make it to the other end. Yes, with a flourishing business, a greater degree of financial freedom can be yours. However, many new businesses still fail - largely because they have not been adequately prepared financially.

Enjoy a bright corporate start in Harrow

While you may have a lot of confidence in your business idea, you could too easily let your enthusiasm about your products and services distract you from crucial financial matters. Long term success in the tough corporate world necessitates you laying down a resilient financial framework.

Now for some good news: we can assist you in doing exactly that. In fact, we have already helped many businesses navigate the choppy waters of starting out. Exactly how hands-on we are when helping your own company is very much your decision. However, we know that, the more closely we can advise you, the better we can help your company to survive and thrive. We can be not merely your accountants, but also your business partners.

Ways that we can give your company a helping hand

Your company's first few years are likely to be difficult, but we can assist in preserving your business through that tricky period to ensure that it can fight another day. Trimming your outgoings as much as possible could prove crucial to achieving this - and, indeed, keeping your tax liabilities to a minimum can be easier with our advice at hand.

You don't want to miss a crucial deadline; otherwise, you could be hit by a penalty that draws more from finances that are probably already tight. Thus, we can remind you well in advance as vital deadlines approach. Furthermore, when the time comes to send information to HRMC, we can help you make sure that all of what you send is accurate. We can also maintain your firm's books in such a way that they stay completely compliant.

To learn more about how and our other services for business start-ups, you can phone us on 020 8909 3808. We also recommend a thorough perusal of our website as a whole.