Posted: 18 May 2018
Start your Business with a Chartered Accountant (CA)
Starting a business? Turn your idea into reality with the help of a CA
If you are thinking of starting a business, getting the right advice can make the difference between success and failure. A CA has the knowledge and expertise to help you set up your new business. They can provide advice and guidance on writing business plans; accessing finance, including grants, bank loans and venture capital; and helping you to meet your legal requirements relating to personal and corporate tax.
Find a CA when you need help with …
Writing a business plan
Whether you are looking to secure finance, or want to benchmark the performance of your business, a CA can review your idea and evaluate its profit potential so you can create a realistic business plan.
Your company’s legal structure
If you’re unsure about whether to run your business as a sole-trader, partnership or limited company, a CA can help you to decide which legal structure will work best for you.
A CA can help you assess what form of finance, or combination of finance options, is right for your business and help you prepare a convincing business plan to persuade a lender or investor to offer finance. Funding options change over time so it’s important to meet regularly with your CA to review what options are available and which are best for your business.
Applying for a grant
A CA can help you identify suitable grants and provide guidance on ensuring your business meets the conditions of the scheme, writing the grant proposal, developing a work plan and costing and completing your application.
Applying for a business loan or overdraft
A CA can help you prepare your application and pull together the supporting information lenders will look for including a business plan, financial records and projections, repayment plan and any additional security. Using a CA will also give the lender confidence in you and your plans.
Taking on a franchise
It can be hard to know whether it's worth taking on a franchise. A CA can help by reviewing the franchise contract to find out the fees and percentages charged and help you estimate your likely income after those costs have been deducted.
Your business finances
Healthy finances are critical to a successful business and that's where a CA’s professional help is essential. The needs of businesses vary and a CA can help with the preparation of accounts including profit and loss statements, balance sheets and cash flow statements.
Always ask your Accountant if they are qualified and what professional body they are a member of.