If you’re thinking about starting a business, it’s important to make sure you have the right tools for the job. While there are plenty of resources available to help you get started, we’ve put together a list of the most important things you’ll need to get on your feet:
Cost:
Starting a business can be expensive, but if you’re smart about how you do it, you can save yourself some money. First of all, consider whether or not you really need an office space as opposed to working from home or another location that’s more cost-effective. If possible, look into getting accounting software and bookkeeping services at a lower rate than what they would cost if purchased separately.
Accounting software:
This is one of the first things that you should consider when starting a business because it helps keep track of all your financial transactions in one place. Accounting software makes it easy to track expenses and revenues in real time, so you always know where you stand financially. You can even use it to pay bills and send invoices automatically.
Accounting software also helps you stay compliant with government regulations by providing you with reports on tax filings and other compliance issues. It also reduces the risk of human error in your business’s accounting. This leads to better records, which helps you make better decisions about how to grow your business.
Company secretary:
One of the most important decisions a company makes is who they choose as their company secretary. A company secretary is someone who is trained in making sure that your business stays compliant with local laws and regulations. This means you will spend less time on tedious paperwork and more time spent growing your business.
Accountant:
Bookkeeping is a time-consuming task. It involves a lot of paperwork, calculations, and record keeping. This makes it difficult for small businesses to keep up with their accounts. The average small business owner spends 20 hours per week on bookkeeping tasks, which is almost the equivalent of one full-time employee! A bookkeeper can help you save time by taking over these tasks. That’s 20 hours you’ll be able to focus on growing your business faster as you will not have to worry about tasks such as payroll, invoices and taxes.
If you’re just starting out, it’s important that you find someone who has experience in small businesses like yours. They should have worked with other startups before to get a sense for what works and what doesn’t work in terms of running an efficient business operation.
Francis Fabrizi
Accountant
Keirstone Limited
