When you start a new business,
getting things right from the start saves time and effort later on. It is an interesting time and, even if this is not the first time you have started a business, if you start with a sound
business plan your chances of success are immediately increased.
It is essential that all the right parts are in the right place at the right time – and each
part is important as the others. They all combine to give a good foundation for good future growth. It is always beneficial to have a business plan before you start to outline your objectives
and how you plan to achieve them. This can be modified as you go along but it gives you an excellent basis to work from.
As with any project, there are certain things to have in place right at
the commencement: choosing your company name, what type of company it will be (sole trader, limited, partnership), which bank you will use, your new premises/address and which relevant
authorities you need to notify.
Getting these items in place and correct will reduce costs, time and
effort later on.
Here are just some of the elements you can benefit from by engaging
Signa’s business advisors:
- We will assist you, as the founder of the business, to understand your options on your best
trading choice and to show you the advantages of each.
will provide an external independent overview of the business viability and ensure there is a market to provide the volume of business the founder expects for their products or
- We will make sure you have all the correct legal documentation prepared and
- We will look at any possible restrictions on the proposed activities.
- We look at the founder’s previous business
employers to ensure there are no potential claims against the new business or any possibility of intellectual property challenges associated with the new business.
will look at all potential restrictions that might apply to the new business such as formal registration with legislative or trade bodies.
- We will predict the possible reaction of competitors to the new business launch and look at how this could affect the start
- We will look at possible start-up loan applications, grants and other financial
incentives that may be available.
At Signa you will have an ibd accredited advisor who has a wide knowledge and experience of
running and managing businesses. This advisor will be ideally placed to offer you the knowledge, skill set and experience that you will need behind you when you start your new
To ensure you have the best possible foundations for profitable growth your advisor will
support you in the services below:
- Preparation of a business plan
- Register your business at Companies House in the correct legal manner
- Notify HMRC of the new business
- If necessary, register for VAT
- Establish banking facilities
- Put the correct controls in place with appropriate limits for banking facilities
- Health & Safety policy and procedures as appropriate
- Using our templates to assist, ensure your three year budget and cash flow projections are in place
- Ensure understanding of cash flow status
- Establish levels of creditor/debtor control
- Establish reporting procedures for control of expenditure
- Set up financial management report systems
- Understand how to monitor progress against your business plan
- Review and provide assessment of any legal contracts you will undertake
- Establish communication strategies: phones/mobiles/email addresses etc
- Marketing: your plan to introduce your company and the best way to do it
These are some of the most important aspects you will face when starting your
If you would like more information on how Signa can help please call us on 01494
562738 or send us a message.