Find an ICAEW chartered accountant or an ACCA accountancy firm for help with financial forecasting and business planning. This summarises the key points, starting with the purpose of the business plan. Base your business plan on detailed information where possible. But despite these issues there is absolutely no reason why as a young person you can’t get started in business.
In the long run, this tactic is more valuable and may help you scale faster than starting off by trying to sell an already popular product or idea to a broad audience. Your business plan should give you a good idea of your financial needs. Once you’ve registered your business, you’ll also need to understand more about how taxes will affect you and which ones you need to be prepared for. It’s an appealing idea, particularly in the current economic climate where no one has cash to spare and austerity … Read More