Finances
Once you have done all your planning thoroughly, you should know how much money you need for your start up costs. In other words to get you up and running. The next step is to raise that money. To set up in business you need money. There are several ways you can do this, including:
- Your own money
- Bank loans
- Special loans or business set up schemes
Check your local business link or chamber of commerce, the BERR (Department for Business Enterprise & Regulatory Reform) and other organisations like the Prince's Trust, to find out if you are eligible for any grants or loans.
Keep a record of all your start up costs - many can be claimed back against taxes once you start trading. From the start you will need to keep accurate records of your sales costs and profits. For more on Book-Keeping, check out our range of Book-Keeping courses.