The people you should talk to before starting a business
02/06/2010YOU can never talk to enough people before starting a business. Research, questioning, exploring every option, listening, networking, learning and training may all be necessary elements, depending upon your level of experience, and all well worth pursuing way before launch day.
But there are three crucial people you must talk to – an accountant, a solicitor and a business advisor.
The accountant will ensure you have accounted for the different expenses you are likely to incur, provide you with a list of things you can claim as business expenses and provide you with some tax advice.
A solicitor can help you prepare documents, including legally binding contracts with clients, if necessary for your particular business. If you need to decide on a legal structure for the business, he or she can advise and also talk to you about best way of protecting yourself from becoming the target of lawsuits.
And a business advisor will be able to give you free advice on practically every aspect of starting a business. You will need to be in a position to give them a complete overview of your business, and having your business plan to hand would be really useful at this stage. By taking a more in depth look at your business model they can advise or anything you might be missing or have overlooked. Their input is invaluable. They can also recommend a reputable accountant and solicitor to use. Good places to look for advisors are Business Link and the NFEA for your local enterprise agency.
What is important is not to cut corners. See these people and many more if necessary. You can never have too much information and although there might be a desire to rush into things and start earning money as quickly as possible, more time spent beforehand talking to the right people, gaining the right information, will pay dividends later on.
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