Taking an idea and turning into a working, profitable business is not an easy task. A structured, phased approach with a trusted adviser will give you a solid template to realise your business goals.
At Avid Partners – Accountants & Business Advisers, we’ve devised a comprehensive eleven step process. Everything is covered and we’ll walk you through the entire process.
We start with the basics. You must decide what legal status you want to have. The options include sole trader, partnership or private limited company. We’ll decide on the best structure for you.
We’ll handle all the paperwork and administration so you don’t have to. If required, we can provide you with a ready-made company or tailor an arrangement to fit your needs.
The first major task is to source funds to give your business the boost it needs starting off. What you need first is the right information and at the right time. This comes in the shape of a well-put-together business plan. We will go through this planning process with you in detail.
This plan will outline the specifics of your company, its background, products, management team and more. Once we have your business in place, we can advise on the best sources of finance for your venture.
Effective management is all about information. The most accurate information means you can make the right decision at the best time. Timely information will also help you plan for the future and devise your growth strategy.
We start this aspect with a user friendly management accounting system or we can adapt your existing system to fit your new model. Included in this stage is advice on cash management and the preparation of business forecasts.
Budgeting is also an area we have noticed over the years that can prove troublesome for many small companies. Our aim is to take the mystery out this and give you a straight-talking, effective take on your finances.
With an experienced team and use of the most efficient Management Information Systems and processes, we’ll help you interpret business intelligence with an eye on future growth.
The outsourced finance director is a service we offer whereby we can provide a complete accounting function for your operation should you not have the resources or need to appoint one full-time.
The auditing process is all about information – and your ability to use information as a working business tool. As a small company ourselves, our focus is on the smaller operation and we know what to look for and where to assess.
We begin with an overall analysis on your company’s weaknesses within your existing systems and processes. Our recommendations will analyse performance, highlight your weaknesses and suggest improvements for the future.
Business performance reviews help us identify those areas of your business where small changes can allow you to take maximum advantage.
Practical aspects like your company’s capital structure and financing arrangements, profit performance and management structure come under the microscope. Your business will be assessed under other categories including planned investments and acquisition appraisals. Our focus is on developing a medium-term planning strategy for your organisation.
As your business grows, you will come to a crucial stage. You will need to look at options to raise finance to facilitate future and sustainable growth.
A growing business needs finance, venture capital, equity, loans and grants. We’ll help you negotiate your way through the maze of options and help you prepare your business plan. Presenting you and your business as a viable investment opportunity is what we do best.
Raising finance from any source involves negotiation on the costs of that finance. We have the expertise you need to get the best deal available.
Avid Partners – Accountants & Business Advisers will also guide you through the range of grants available and advise you on how to approach this process with confidence.
As the saying goes, taxation in business life is a certainty. It is our role to advise and guide you through this vital aspect of business governance. We try to lower your tax bill and minimise tax administration.
We don’t just send off your returns every year but what we do, is put in place a tax planning strategy to monitor your business as an overall taxation issue. This constant review process helps us identify ongoing taxation concerns and legislation changes that might prove beneficial as your new business develops and grows.
At this point, your business is getting to grips with the power of information and the role that information plays in planning and forecasting. We help you maintain your books and accounts to turn these facts and figures into working, insightful business data.
We’ll provide your management team with budgets, cash-flows and projections as well as monthly and quarterly management accounts.
This assessment stage is all about minimising the burden of VAT and customs duties on your business. We can advise on planning, registration and give you help on your preparation of returns and payment.
What we can do for your business
Running a successful business is about more than just sales and profits. Getting the best people on board and keeping them there is a crucial element of your overall business environment. We can help you with this key function.
Practical aspects of HR like payroll management and administration can prove to be a strain on the smaller business. We can offer your business a tailored, computerised payroll service, taking care of all paperwork and providing summaries and all the necessary details.
From complexities involving PAYE, bonus schemes and more, we can advise on a comprehensive HR finance strategy.
Essential services and strategic administrative functions are performed on an everyday basis by the company secretary. We can now offer all these services as part of our ‘outsourced company secretary’ function.
These include maintaining company registers, resolution preparation and distribution and company meeting reporting. You can also use our company offices as your company’s registered office. Or we can help you with company searches at the registrar of companies.
The role of technology is your business is probably growing by the day. It is very important that you have a solid IT structure ad environment in place to meet current business needs and anticipate future requirements.
We take a close look at your business, analyse the current role played by IT and identify areas where further automation can benefit you. We’ll advise on systems, vendors and contracts.Contact Avid Partners today about our Small Business Unit service. Call our office closest to you to find out more or email us.
Our services are available nationwide.