Business & Finance Corporations

Setting Up Shop Are You Ready to Become a Success?

If the answer is yes to the above title then I think you ought to read this first.
Did you know that up to 50% of small businesses fail in the first year and did you also know that 95% of new businesses fail within their first five years of trading? 2.
Did you also know that you may have to register for VAT if your sales are over £68,000 for the last 12 months? 3.
According to the USA Today the best time to start a business is during the recession? Microsoft did, so did Disney.
Did you know that because of the credit crunch most banks are unwilling to lend to small businesses for the fear of small businesses defaulting on loans? 5.
Did you know that it is possible to get exemption from taxes for business expenses such as telephone bills, electricity bills, car fuel and much more? 6.
Did you know that VAT could causes delays to your cash flow? So after reading the questions above how do you feel? A little confused.
Well there is no need to be because help is at hand.
Sometimes setting up shop or a business for the future can be the best idea to have.
If you've been made redundant over the last few months or you are thinking about leaving your job then this could be a great time so stop and think for a moment.
Will you ever have this time on your hands or this opportunity again to start a business? Starting a business and making a profit can be one of the hardest things to do if you don't have a business plan.
With a business plan not only will you be able to forecast when you will turn a profit, you will also be able to manage your cash flow.
A business plan is a great way of showing banks and investors that you mean business and that you know your target market and that you are serious in making your business a success.

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