Friday, 10 February 2012

TWD Accountants

So yesterday (9th Feb) Chris and Sarah from TWD Accountants from across the road, came in to talk to us about starting our own business, and about become self employed, self employed can offer us more freedom and flexibility.
All the information given was very confusing! but they said we could pop in and see them any time and they gave us a discount card for if me need an accountant in the future, which was very nice of them!
They gave us some tips on starting a business, starting with making a business plan, including things such as market research, which is tings such as, target markets, the compeition, what is different about your company etc. Finance plans, what you hope the business will achieve, it's advantages, how things will run? this team and other working members. As business plan for when possibly going to banks for loans etc, must include a paragraph about each section.
You would need to work out how much money you would need to start things up, for things such as hiring staff, equipment and studio/building etc
To finance your business you can get bank loans, get people to invest in your business and you should always look for professional help! You could also contact your local job center as they can also help.
They also said they we should always keep recipts etc, just incase! even if they're online recipts and bank statements.
After taking also this imformation in and also information about TAX income etc, it was pretty scary! I didn't understand alot of it, but have time to get the hang of it. Starting a business up seems like something tricky, I don't think I could handle it on my own, It would be great to possibly do a split partnership with someone who I work well with and trust, that could be a great investment, but for now I think i'm heading for the self employed, free lancer! But you never know what might happen in the future!

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