Call our team +44 (0) 207 566 3939

BLOG

Plan for your new business

When starting a new business planning is key

When talking about economic issues, one of the main problems in small businesses is financial planning. Knowing how to properly manage your resources and prepare for an emergency fund through hard times is key. It happens with many companies, when they start to go well forget to plan and lose sight of the risks encountered, especially in times like these when the economy is so volatile.

Here are some recommendations to make good use of your resources.

1 – Stick to a plan. Whenever you need to have a budget of income and expenses (outflows) for your business, it`s important to stick to your financial decisions. Inflation and exchange rate are indicators that will help to project clearly how your money is moving.

2 – Know your territory. A good way to gain more knowledge on how to better manage money is to analyse some data on the sector in which you operate. Find out how much your sales activity decreased in the past and what the worst months were?

3 – Clear accounts. Keep a daily record of your income and expenses. That flow of inputs and outputs is the basis for creating your strategy for administration. It allows you to plan your payments and, in turn, define your balance, i.e. what are the immediate debts and how much capital you have available to pay them off.

However, there are other ideas that you can consider to multiply your resources, as long as you have made an assessment of what it means to start growing your business with a loan:

– If it is a high-tech company you can turn to venture capital or angel investors.

– If you have had a loan on microfinance, then there is the alternative of returning it to them, ensuring that the new line of business represents good yields.

Your Virtual Office London can help your new business take off. We provide a range of services for the start up entrepreneur, from a mail forwarding address and telephone answering through to company formations services including a central office location and company incorporation. Our services and products have been designed to give you an edge of the competition.

We understand when starting a new venture keeping overheads to a minimum is crucial if you are to really give success a good shot; that is why all Your Virtual Office London products have been made exceptionally affordable without lacking quality. We are proud of our service and have been helping thousands of businesses progress to become successful organisations.

Related Category Posts

Your Company Registration Number Can Be Found Here

Your Company Registration Number Can Be Found Here

Your Company Registration Number Can Be Found Here After spending a significant period of your time trying to start a business, you may have finally obtained a registered office address and set to further your blooming empire. However, when you’re fresh out of the...

read more
Where Do I Send My Stock Transfer Form?

Where Do I Send My Stock Transfer Form?

Where Do I Send My Stock Transfer Form? Congratulations! You’re either a newly formed business, or you’ve been running your brand from a reputable business address for some time. But with the plaudits comes the pressure; not least the overwhelming number of...

read more
7 Important Roles of a Company Director

7 Important Roles of a Company Director

7 Important Roles of a Company Director You may be the proud owner of a new business, functioning from a credible business address, and envisioning a bright future ahead. But if you’re unsure about exactly what a company director’s role entails, then you may...

read more

Capital Office Ltd is registered in England and Wales: Registered Address: Kemp House 152 – 160 City Road London EC1V 2NX

Company Number: 06294297 | VAT No: 976201416 | ICO No: ZA084808 | Anti-money laundering registration number: XZML00000125126

© Copyright 2019 Capital Office Ltd - All Rights Reserved

Please click here to view the latest businesses using our address without authorisation.