What do Disney, Groupon and WhatsApp all have in common?

So, it’s no surprise that in 2020 – a year which brought much change to not only the UK economy, but the world - saw many people start up their own businesses. Turning their passions and skills into their livelihoods. 

 

It’s important to note that many businesses fail because they try to run before they can walk. It’s integral to a business’ success to take time creating a business plan – to get it right from the start. Take the time to get to know your market, what you want to achieve and how you are going to achieve it, based upon the capital and resources available to you. 

 

Many new start-ups wrongly believe that to save money they should do the accountancy themselves, but not doing it correctly from the beginning can cause problems later down the line. Finances really are at the heart of any business. They provide a clear picture of how your business is doing, allowing you to make reliable predictions and decisions about its future. 

 

Take time to gain some accountancy knowledge. There are many online free courses that can teach you the basics. Knowledge is power after all. 

 

But with an accountancy firm on board, however, you can get professional advice and support from the very beginning, giving you and your business the strongest possible start.