Starting a business: the sole trader’s introduction to getting it right first time

You’ve had the idea to start a business and are full of excitement. It’s taken courage to decide to reinvent yourself, to become your own boss.

But right now your to-do list is getting you down. There’s your “big idea” but then there’s all these other annoying parts of the jigsaw puzzle that need to come together too. There’s the marketing, the accounting, the record keeping and getting your head around HMRC and tax. You know there are legal obligations and you feel frustrated that you can’t really gain momentum until you’ve got this part figured out. Can you relate?

Perhaps you’ve bought the yellow “Dummies Guide” to Starting and Running a Business, read a few websites, tried to figure out what your friends are up to.

But the problem you’ve probably already encountered is that it can really eat into your (already limted) time. And there’s so much information out there. So much conflicting information. It’s too general and it’s riddled with words you don’t fully understand.

Thankfully there is another way.

Just imagine if someone had already done all the hard work for you. Wouldn’t it be a relief to have someone dependable explain to you in plain English how to get the tax, accounting and record-keeping bit squared away from the outset so you could crack on with the fun bit?

Hi, I’m Karen and I’m passionate about helping you to hang on to more of your hard earned money – by demystifying what’s expected of you and explaining which healthy habits to establish from the beginning.

This is what I’ve seen

• Sole traders who have DIY’d their books having to pay additional amounts to Accountants at year end because they haven’t recorded their income and expenses correctly
• Sole traders who have DIY’d their own tax and accounts but missed out on claiming refunds and deductions for expenses that could have saved them hundreds of pounds
• Sole traders who have selected the wrong business structure and have ended up being fined because they weren’t aware of the reporting requirements.

And more…..

That’s why I created “Starting a business: the sole trader’s introduction to getting it right first time”

It’s a workshop for sole traders in the early throes of setting up a business and it’s meant to help you shift from bewilderment and frustration to clarity and momentum.

Here’s what you will learn:

• Should I set up as a sole trader or a limited company
• How to register as a sole trader and what you need to do to comply with the law
• How to price your product or service
• How to prepare your first invoice
• How to prepare and maintain a simple record keeping system
• How to keep more of your hard earned income
• Which taxes you will have to pay and the self assessment system
• How to prepare a cash-flow and budget statement for your business
• Where and how to go about sourcing funding for your business
• What you can and cannot claim (tax wise) for your small business
• How to save accountancy fees
• How to avoid the common pitfalls most sole traders make

 This workshop could be a fit for you if:

• You’re making the leap into self-employment
• You’re still in creating mode, experimenting, finding your way
• You’re in the first few months of running a business
• You’d like to run your accounts yourself (at least initially)
• You want to get clearer about your legal obligations
• You want to establish healthy habits from the outset

If you’re interested in joining me on my next workshop you can find all the details here

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If you have any questions do drop me a line in the comments section below or email me here. I’d love to hear from you.

And last but not least. Good luck with your new business. I’m gunning for you!