Setting up business in the UK: choosing accountant and office
- RSL Law
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The article was published in the newspaper “Angliya”, 28 July 2016
Author: Darren Bull, Senior Accountant at Red Square London
In our previous articles we have guided you through the first four stages of starting your new business. These were market research and business plan, business structure, along with choosing the perfect name for your business to creating your logo and building your brand. Now we’ll take you through the next two stages. The next stage is choosing the right accountant and then the last one for this week will be to look at where your business will operate from. My name is Darren Bull, and I am the senior accountant here at Red Square London.
It’s a crucial decision choosing the wright accountant. It takes far more than qualifications and years of experience to be the perfect fit. Even with years of experience and a big city name behind you it doesn’t mean the accountant is right for you.
- How to choose an accountant:
The first thing you need to consider when going through your list of potential accountants is whether or not any of them have some degree of familiarity with your business. It won’t be much help if you hire someone used to dealing with manufacturing companies if you run a leisure business as they won’t be familiar with specific legislation.
Also, look at the size of the firm. A small to medium-sized business accountant will specialize more in the kind of accounts issues common to medium sized firms. They are also likely to charge less than a larger firm and give more direct access to a more experienced accountant. Here at Red Square London we can offer a solution to all your questions. If you want the best from your accountant, you need one that is approachable and understands both you and your business on a personal level.
So you’ve chosen a friendly, knowledgeable, experienced accountant that fulfils all your requirements. You have a business concept and have set up your business structure, so now it’s time to look at where you will trade from?
- What to consider when choosing office space for your business:
A universal answer to the question of what makes the perfect office space doesn’t exist. The kind of space you need, and will be comfortable in, depends entirely on the type of business you’re running. The same goes for the amount of space needed per worker. If all you require is a small desk and a phone connection, you don’t need masses of square footage and could possibly work from a spare room in your house. However, if your office also acts as your shop floor – a place to meet with clients – you’ll want a bit more space and possibly a more attractive and accessible location. Sometimes location could be your dominating factor and you might compromise on space to take the business where it needs to be. You may notice that certain types of companies open up very close to their competitors this is because consumers like choice. If you want to eat out you may find that you go to a food court so you can make a choice once your there. Consumers can be swayed to your product by the branding and the service you give over a competitor. You may find that your choice of location is made on the basis that you are the only business providing your service in the area so this could be your factor. Certain businesses do most of their trade over the internet so with this type of industry your location may not be a factor at all. When moving into any premises weather renting or buying you are entering into a legal contract. Here at Red Square London we can get our legal department to review and facilitate your move. It is important to project-manage the move. Our business consultant Laurie Evenson-Goddard can help arrange and move your business into its new premises and make sure you’re ready to trade from day one.