Setting up a business for the first time is home to many firsts. Even if you intend to be a sole trader, there are some key figures who will be able to help you out as you navigate the world of business for the first time. Moreso, if you intend to start an LLC – choosing the right LLC formation company like Northwest or similar is just as important. Here are some of the people you should always seek out.
A solicitor or any other legal expert will be one of the most important figures in the early days of your business. Setting up a business requires you to file an awful lot of paperwork with various bodies. From registering the company to contacting HMRC and more, there are so many boxes that need to be ticked.
Your solicitor will help to ensure that everything is filled out properly and that you are fully compliant. They may even be able to offer key advice like the business structure you should choose.
Once you begin to move money through your business, whether it is expenses or income, you should think about tracking down an accountant. Your accounts always need to be as accurate as possible. Not only will this help to keep you compliant, but it could also help you to identify some key areas where you could make a savings.
An experienced accountancy firm like Hazlewoods might be just what you need. They will match you with an accountant who is ready to make sure that all your accounts are in full working order, and as a new business owner you will need them to help you push your business to its maximum potential.
Though they are not for everyone, seeking out a business mentor might be beneficial to some. If you do not have much experience in the world of business, a mentor can take you under their wing and give you more of an insight into what you need to do to become a success.
They might have an active role in the business, or they might just watch from afar. Listen to their advice and try to learn as much as possible from them while they work with you.
At some point you are going to hire your first employee. This is a massive milestone in the business and will be something to be celebrated. An employee will help to share some of the burdens of running the business. Whether it is someone to mind the shop or an expert to help expand and boost your presence online, they will be one of the most significant figures in your business. Many people try to take on running a business all by themselves. While this can work, you can also run the risk of taking on too much. Learning who can help you out, be it a solicitor reading over your contracts or an accountant signing off on your tax return, will be incredibly important. Start building your own network of contacts as soon as you launch the business. You never know when you might need to rely on them.