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Developing a Business

Once you've started your business you'll want to develop and grow so your company stays successful. We've outlined here a few of the key issues you might want to consider when developing your business:

1. Strategy and planning

If you were incredibly organised when you first started your company, you'll have written a business plan within which may be outlined a long term strategy. If however, you're like the majority of entrepreneurs who start in business, there might not be a business plan to refer to! If this is the case, think about where you want your business to be in a years time. Do you want to increase the amount of clients you have, increase your profit's or simply increase your business's reputation? Whatever your business objective, work out the best way to get there and stick to it. For instance, if you want to increase you client base, think about marketing and sales strategies you can use to do this - then make sure you follow these through. With a brilliant strategy it'll be much easier to achieve your business goals. One hot tip is simply to write all your ideas down, just the act of writing something down forces your brain to slow down and consider things far more carefully.

2. Employing staff

If you want to grow your business, it might be necessary to employ some staff. Think about the staff you actually need and how you'll utilise their time - will they be worth the investment? That is, will the increased staff cost yield the same business value. Don't rush into this kind of a decision as it can influence your tax payments as well as the structure of your company.

3. Tax planning

This is probably not something you were looking forward to thinking about....however, it's crucial that you plan for tax payments.If you don't, it will end up costing you far more. Speak to an accountant about tax planning for the next financial year so you can minimise the amount of tax you have to pay.

4. Managing business process

By now, you've probably got a network of suppliers and business processes set up, however, in order to develop your company, you'll need to think about streamlining your procedures in order to reduce your costs. If you order stock, could you buy a larger quantity and receive discounts? Are you turning over stock quick enough? If you're a service based firm, are you spending too much time on administration? You could make your life easier by setting up report templates and emails as well as hiring a financial advisor and accountant.

5. Financing growth

If you need investment in order to grow your business, there are a number of options to consider. You could look to an angel investor (dragons den style), get a business loan, re-mortgage some of your home etc - all of these should be carefully considered before a decision is made. Speak to an accountant and financial advisor in order to optimise on the options that are available to you.

We've put together some of our top tips in this section - have a look around for more advice. If you'd like to speak to Easy Accountancy about your business or the services that we offer, Ask us a question, call us 0500 234111 / 01442 275767.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email newbusiness@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.