When you are starting up your own business it can be a really exciting, as well as highly stressful time. As well as all the usual problems and pitfalls, at the moment we have the Global Pandemic to also contend with!
Although these are trying times, it shouldn’t stop you from your dream of starting your own business – there are just a few more things to think about and you may need to look at other ways of working.
The first thing that you need to do before starting a business is create a business plan – this is kind of the blueprint of your business and is a good way for you to take everything into consideration, and find solutions to potential problems before they arise.
You need to ensure that you make HMRC aware of your employment status. As well as this, it is a good idea to find a professional such as the accountants Gloucester to help you with the financial side and to assist you financially to make sure that you are in compliance with all the laws for businesses – this helps you to avoid any nasty financial shocks in the future in the form of fines from the tax man!
Because of the times we are in, it is sensible to look into getting online. When the pandemic started to close small businesses, the ones that weathered the storm were the ones that adapted quickly by going online. Pubs and restaurants used social media to get the word out about the changes to their services that they were providing, and many companies updated their websites to make them more user friendly and offered people the opportunity to purchase online.