Business Start-Ups

Many of our clients have been with us since they started their business, so at MFW we understand that taking that first step towards life as a successful entrepreneur can be daunting. Whether you need a sounding board or more detailed help, we can be there to guide you through your initial setup and trading periods.

Initial setup & business structure

Starting a business is a lot of hard work and there are many operational matters to deal with. Alongside that, it’s an important time in your business’ financial situation and your opportunity to make sure that the legal structure is suitable for your business and personal situation. Starting off with the wrong business structure can be costly, both in terms of future costs of re-structuring and in potential tax leakage. It’s important to get meaningful, tailored, advice from the outset on whether a sole trade, partnership or limited liability company/partnership is most advantageous to you.

Financing the business

Whether you have the initial funds to cover working capital or need outside financing, we can work with you to produce a business model, including cash flows and forecasts, to give your business the best chance of navigating the potentially challenging pre-trading and initial trading periods. At MFW, we have great working relationships with a number of other finance professionals, giving real credibility to any requests made for business finance supported by the business plans we co-ordinate with you on.

Compliance

As with anything in life, sometimes it’s what you don’t know that can trip you up. Let us work with you to ensure you are aware of relevant regulatory requirements. We can assist with registrations for all necessary bodies such as Companies House and HMRC and act as your agent with these authorities.

Accounting software and support

At MFW, we recognise that every business start-up is different. Whether you are able to deal with the day-to-day financial transactions or need assistance, we can help to set you up with an accounting system that works for you. Should you wish to maintain your own accounting records in-house, we can offer training on many accounting software packages, and can recommend the right package for your business. Across the firm we have many accredited staff trained on a wide range of traditional and cloud accounting software solutions, including add-ons to make processing more efficient. They will train you on key features and show you how get the most out of your software including tips on how to establish best practices.

If processing the transactions isn’t for you, then don’t worry, we can assist with that as well, either at your premises or remotely, depending on what works best for you.

To return to our main advisory services page please click here.