If you are thinking of starting your own business, you should start by discussing your plans with an accountancy firm that can give you the help you need. Viewing your accountant as a business adviser, not just as a professional trained in traditional accountancy and tax compliance services, will increase your chance of success and ultimately boost your profitability.
The more forethought you give to starting and running a business, the more likely you are to succeed. The vast majority of businesses that fail do so in the first twelve months. It is vital to get good support and advice to avoid becoming a first year statistic.
At John E Hughes & Co. we can offer professional advice and support in the following areas:
- Investigating the feasibility of your proposed development.
- Preparing a business plan including profit projections, cash -flows and working capital requirements.
- Advising on the proper structure for your business – limited company, sole trader or partnership.
- Completing tax registration procedures with the Revenue Commissioners.
- Registration of business name.
- Presenting your business plan to financial institutions and other providers of finance.
- Incorporation of limited companies.
- Assessing your financing requirements and the appropriate sources.
- Assisting with any grant applications
- Advising you on manual or computerised books and records and choosing the most suitable system.