When you start a business with someone else, it’s always a good idea to lay down some rules on important issues, such as; how you will run the company, your respective responsibilities and what happens if someone wants to leave the business. Agreeing on how you will handle these, and other important matters, will save a lot of anguish down the line.
One of the biggest obstacles to growth for start-up businesses is investment. Investors are often reluctant to commit their money to a new business with a promising idea but no track record of success.
Fortunately the Government lent a helping hand in 2012, and introduced the Seed Enterprise Investment Scheme (SEIS) to help smaller, riskier companies attract investors willing to take a punt on a bright idea becoming a successful business.
If you’re looking to raise money, from either a bank loan or outside investors, a cash flow will be one of the financial forecasts that you will need to produce for prospective lenders and investors.
Claiming business expenses can help you to cut your tax bill but, knowing what, and how much you can claim for isn’t straightforward. Fortunately, HMRC allow the self employed to use ‘simplified expenses’ to claim certain allowable business expenses without having to make complicated calculations.
