8th January, 2019, Alex Salmon
So Christmas is over.
And there are a few tell-tale signs.
The tree looks like it has attended too many parties, with baubles and tinsel hanging on by a thread, I can’t see the carpet for toys and if I see another mince pie it will be too soon.
Having said that it was a lovely day, complete with too much turkey and a sherry or three.
And the kids only got up at 3am, so that was a bonus.
Now I’m looking towards New Year’s Eve. A night where I fall asleep on the sofa and wake up just in time for the clock to strike midnight.
On New Year’s Day I’ll be full of the joys of January having made lots of resolutions, which will last all of about five minutes.
As we move towards the end of another busy year, we turn our attention to new beginnings.
January is a time where people like to make changes and resolutions. Mine only last about five minutes, but I always have the very best intentions.
It’s also the optimum time to start a new business.
At my accountancy firm Stephenson Smart, we offer a free consultation to anyone looking for advice on how to get the ball rolling.
There are lots of small things to consider, but most importantly you obviously need to consider how you are financing it.
Are you applying for a loan, do you have savings, or are you using inheritance money?
And where will you run the business from? A shop, your home, or perhaps you will be on the move and need to invest in a vehicle?
The other important factor is to think about your overheads and profit. Are you going to operate as a sole trader and pay tax, or register as a limited company to separate it from the individuals working within it?
If you are employing people you should think about salaries, dividends and payroll.
It can be a daunting process, but we can make it simpler.
Unlike my Christmas tree lights, which are perhaps the most complicated mess ever.
