We love working with people to create successful new businesses.
We get particularly excited when people come to us when they are starting a new business venture.
In our experience, clients are often unaware of the amount of administration involved in setting a business up in the correct way (and correct order) to avoid future problems.
We often help clients:
- Prepare a business plan
- Prepare a financial forecast
- Incorporate the company, not just your standard off the shelf variety, but with due care and attention given to setting up different share classes to incentivise key staff members (as start-ups are often cash poor, it can be useful to offer shares to key staff members so they will share in the success of the company), and also to exit routes
- Open a bank account
- Apply for VAT registration
- Set up a payroll scheme
- Apply for corporation tax registration
- Set up appropriate accounting systems
- Plan their tax for the first few years
The earlier clients come and see us in their journey, the easier it is!
Over the last few decades, we have assisted many clients in setting up their own businesses, which are now hugely profitable. Of course they are still our clients!
The start-up phase is a particularly important time for any company, and usually the whole Brebners team get involved, with staff members across the firm working together, and delivered through your Brebners contact.
Depending on your business sector, the most appropriate Brebners partner / manager will work with you to create a successful business. Please contact us for a free initial meeting to see how we can work together.
The services most commonly used by start-ups are:
- Corporate tax planning and compliance
- Outsourcing your financial function
- Financial systems advice
- VAT advice and planning
- Personal tax planning and compliance
- Company secretarial
Recently we have helped new clients start business ventures within the following sectors:
- Film, TV and theatre individuals
- Media – film, TV, theatre - production and post-production
- Media and creative companies
- Retail and fashion
- FCA registered businesses
- Solicitors and legal professionals
Please see the 33Seconds case study:
We believe that a proper business plan and financial forecast are important documents to prepare at an early stage. A carefully considered forecast will enable a business to anticipate high and low points in its cash balance, and provide an estimate of how much funding a business will require.
Even if you are not trying to attract external investment or raise funding initially, it is very useful to have a forecast at the outset so the performance of the business can be evaluated against expectations on a regular basis. This will help identify any problems at an early stage, and allows corrective action to be taken if the business is not developing as expected.
We recommend that at the end of the first accounting period the results are compared against the forecast, and evaluated. Using the knowledge gained from this review, the results for the period, and the experience gained from the first period of trade, we can go on to create a forecast for the second period of trade, and again evaluate performance against this.
A forecast is a very useful management tool. If and when external finance or investment is required, a detailed forecast can improve the likelihood of securing investment.
If it would be of interest to you to create a forecast, please talk to your usual Brebners contact if you are an existing client, or if you are a new contact, please get in touch with James Pierce.