Business Services
You want to go freelance or you want to start your own local business. You may need help deciding and putting in place the many items required for running a business? There is so much to consider. Sole trader, LLP, Umbrella or Limited Company, tax, accountancy, banking, marketing, operations, automation and Brand awareness. I can help you reduce costs and mistakes many small businesses find themselves subject to and turn set up into a stress free activity so you can concentrate on your core activity of delivering customer delight.
Business setup
Although this may seem daunting, if you have the right knowledge setting up a business for the first time is inexpensive and easy. Making the wrong choices however can be expensive and harder to rectify later on.
Type of business
Choice of Sole Trader, Partnership, Limited Company or limited liability partnership will depend on your business relationship and, customer base and expected turnover. Influences will be tax efficiency operating model and marketing/brand recognition risk of litigation and loss.
Banking
You should be able to get free business banking at least for a year. You really must have a separate bank account irrespective of your business model, no only because in some cases its mandatory, but also for your sanity. If you use one of the recommended accountants its important to recognise if the particular bank supports integration to systems. It is really important to be able to transact online and download statement etc.
VAT
Again, setting up is easy. Choosing what to do is critical and a bit more tricky. The factors to consider are do you resell a lot of goods that are subject to VAT - eg a builder, if you are a service industry do you sell to general public or corporate clients only.
If your total sales are gong to be over a threshold, you wont have a choice you will have to be VAT registered.
There is another threshold under which you can take part of the flat rate scheme, for service based companies selling to corporate this is the ideal - eg Freelance IT Contractors.
Conclusion
Your decisions for business setup all depend on a number of factors that needs discussing. The act of setting up is easy and inexpensive, and I would recommend you do NOT use a 3rd party to do so (such as an accountant) as you will pay far more than you need to and not necessarily get independent advise
Business Analysis
I can help you to decide and point you at the resources to run with it yourself. I can advise also the options for financial, marketing and operational improvements at high level. You will see from my projects completed that Business Analysis features very much in the consulting services I do as a freelance in some very large companies.
Marketing
Small business marketing has changed a lot over the years. No longer is it good enough to do flyers and leaflets and adverts in the paper. In fact these are now the most costly mediums. Online marketing is by far the best method. However it is no longer the free-for-all it used to be. You need a rounded marketing plan that consists of but is not limited by:
Brand
This is the hardest part - deciding what your business brand is. Easy to do, difficult to conclude. Its the first thing before even setting up your business to think about. The basics are:-
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Choose your name: Make sure you ave the Ltd Co and URL available before you finalise.
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Choose your logo: Needs to be appropriate to your expected customer base, simple so it fits into a favicon. Bold so that it is recognisable. Fit certain rules so you can trademark it (hint if trademarking do NOT go through a lawyer of any type unless you have a lot of money and are lazy).
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Define your font style and strapline - try to keep it all simple.
The above can get complex, to the point where you may need a brand style guide especially if you are commissioning people to create material for you.
By far the most cost effective way to market is now through Facebook. Don't be fooled into thinking its simply boosting posts now. Since mid 2015 the algorithm in Facebook has changes such that if you are not in the loop you wont know how to spend your money effectively. I can either show you how or manage it for you ongoing for a fee.
Web Site
You need a web site. To get it seen through search you have to have good SEO (Search Engine Optimisation). Where Facebook will get your customers attention, the web site will close the deal. Web sites nowadays are the equivalent of your shop front - but pouring money into advertising the web page in isolation is no longer efficient.
I can create a web site for you, show you how to do it yourself of deliver a fully managed service (see web site)
Livery
It is important that your potential customers see your vehicles, team members and yourself all fitting the brand. I have some good suppliers of branded clothing and would be happy for you to use them.
You will need to provide designs, if you cant do that yourself, again I can help.
Don't forget the Traditional
These items all need to conform to your brand and style guide. They will all need designing and proofing and finding a good supplier or DIY method. They are also required as your overall marketing policy:
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Business cards
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Flyers
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Posters
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Letter head
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Invoice template
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Email Signature
Operations
This service is more for a sanity check on the ways of working you do and to leverage IT automation to make your life easier. As a hardened business analyst this is the core value I bring to companies and small businesses. It can be an expense you feel is not needed but having an outside person with the right skills reviewing your systems and processed can reap huge rewards.
This service is probably something to think about after your first year or in passing when working on a related topic - ie building a web site, why not enable customers to book directly to your calendar instead of phoning you and distracting you from your work? If you want a quick sanity check then its a gift. Something more serious will need financing.
Financial
Good financial management is probably the most important aspect of running a business. This is why the majority of company CEO's come from a finance background. While I do not profess to be a financial expert, I have over the years been stung by poor and expensive accountants, paying too much tax because I haven't claimed for enough things and focus on turnover in preference to profit.
You need to be profitable or projected to be so, or else do not bother discussion on Cost to Benefits can be held to help strip waste and increase profitability. Again light touch discussion is free, deep dive for instance process re-engineering, PMO change etc is not.
With the advent of technology accountancy is now very efficient via online portals. For a small business this route is by far a better way than local accountancy firms in my opinion. You get a lot of automation with banks receipt scanning and do not have to pay through the nose for it. I can recommend some good ones and one I use for my my companies. If I get a referral fee - I will give it to you so there is no inducement for me to recommend one over another.
Finally be wary of allowing customers to pay you through Stripe, Card payments and other 3rd party methods unless you feel it will lead to more sales. These take a slice of your money, then the banks also take a slice etc. You can also be at risk of fraudulent transactions and charge-backs and other complications. You may feel you have to do it because of your business type, or it may actually cost in due to delivering administrative efficiency, but really if a customer is a regular one to a small service business, they will not have a problem doing bank transfer or cash and you will have more profit as a result.