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General Business AdviceRunning your own business can be a minefield with so many laws, regulations and things to consider at every turn.Book-Keeping & General AdministrationBook-keeping & general administration are areas that many small business owners and sole traders undertake themselves when cash-flow is tight and they can't afford to employ any members of staff.Book-keeping in particular can be time consuming and it's critical that your books are correct when they're submitted to HM Revenues & Customs who will use the figures you provide to calculate how much tax you're due for that financial period. Company FormationBefore setting up your company it's important to get professional business advice so that you set up the right type and are aware of all the associated legal obligations.It's possible to set up a new company online in a matter of hours and have all the information you need to start trading. Debt CounsellingMany new companies find themselves over-stretched financially in the first few years of trading and it's easy to think that borrowing money in the short-term will help paper over the cracks until business picks up.Whether you're a sole trader or director of a limited company, being in debt has many side-effects and can cause sleepless nights, mood swings, loss of appetite and even depression if it's left unchecked. Debt counselling can help explore your options and give you the opportunity to talk about your debt problems in confidence. FranchisingFranchising is big business in the UK but as with any new business venture you need to do your homework thoroughly before parting with any large sums of money.Just because someone else has run a successful franchise, doesn't mean to say it's going to work in your area. Franchising is not an easy option and you'll need to work just as hard as you would in your own business to make it financially viable. Franchising agreements typically come with lots of terms and conditions about what you are and aren't allowed to do, so it's best to get some sound business advice from a solicitor and accountant before you commit to anything. Management Consultancy & AdviceManagement consultancy and advicecan be an invaluable aid to your business if you have the right person advising you. Many management consultants have given the industry a bad reputation over the years but getting a fresh perspective and advice to help take your business forward can make a significant difference.Management consultancy & advice can be as specific or general as you need it to be. It's advisable to employ a management consultant who has direct experience in your industry to maximise the return on your investment. Mergers, Acquisitions & TakeoversMergers, acquisitions and takeovers can be an incredibly complex area of business, so if you're involved in any of these from either side, it's crucial that you seek advice on the implications for your business.From how to deal with hostile takeovers to competition laws, professional advice concerning mergers, takeovers and acquisitions is a must in order to avoid potential legal and financial implications in the future. Risk ManagementRisk management is concerned with identifying and assessing potential risks to your business and putting plans and procedures into place to help minimise and control the harmful impact they could have.Risk management can cover all manner of business areas from financial risks right through to health and safety matters. Sale of BusinessesIf you've had an offer for your business and are thinking of selling, there are a whole range of issues you need to consider;
General & business advice tip: If you're thinking of taking on a franchise, do your own research into the projected earnings and try to talk to other franchisees independently to gain an insight into the reality of franchising. |
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