Have you crossed the line from hobby into business? Have a few hours at the weekend gradually crept up? Are you noticing that the initial pocket money coming in has grown and things are becoming increasingly profitable? It could be time to set new priorities and allocate more time to your activities. Don’t leave things to chance. Through the ‘Go For It’ programme one of our business advisers can help you to put together a business plan. Together we can find out if you have a viable business on your hands. We can help you to set goals, put processes and procedures in place and plan for the future. Did you realise that if you are earning more than £1000 in a tax year you need to be registered with HMRC. If your earnings are less than £1000 but you are employed either part or full time, you will need to make HMRC aware of your earnings. Even if it turns out that you have no tax to pay, it’s best to keep yourself right for peace of mind if nothing else. Depending on what activities you are engaged with, you may also need to register with your local council and notify your insurance providers of your change in circumstances to ensure you have adequate cover.
If you want to ensure that nothing falls between the cracks it’s worth preparing a business plan. This process is much more than number crunching. It’s about looking at your business goals, defining your target audience, identifying your competitors , setting your pricing plan, looking at the legislation that is relevant to your industry sector and making sure that you comply, finding out what insurance cover your require, examining the various marketing options available to you and obviously checking out whether the numbers stack up to make it a viable business venture long term. Our advisers will help you to access market reports for your industry sector giving you valuable insights which will help you in forward planning. Another advantage of ‘Go For It’ is access to a free programme of workshops in areas such as digital marketing and book – keeping.
The ‘Go For It’ programme is on- going so if you feel you’ve reached the point where you could have a business on your hands and you’d like help with a business plan get in touch Tel 028 3839 6520 or email Kirsty.firstname.lastname@example.org and we will book you a FREE appointment with one of our business advisers