WEALTH OF INFORMATION: Associate Director Andrew Kershaw has compiled HWB Accountants’ New Business Kit for start-up businesses
A Hampshire accountancy firm has this week launched a comprehensive free guide for start-up businesses.
HWB Accountants’ New Business Kit has gone live on the firm’s website and offers accounting, financial and tax considerations for any new start-up businesses.
Publication of the resource comes as thousands of new businesses are launched in the UK every week, many of them by people affected by the pandemic.
The 42-page document includes information covering all aspects of starting a business, from structure, accountancy and bookkeeping to payroll, VAT and pensions.
Around 500,000 new companies are incorporated in the UK every year, according to Companies House, the government executive which registers companies.
Figures show that the size of the total register rose by 365,213 companies in the first quarter of 2021 – an 8.4 per cent increase over the first quarter of 2020 and the largest year on year quarterly increase since 2012, when such records were first kept.
Associate Director Andrew Kershaw has compiled the New Business Kit as part of Southampton-based HWB’s ongoing support for businesses.
He said: “It is the ambition of many people to run their own business. With the Coronavirus pandemic this dream has become a reality for some who have been made redundant.
“Others may decide to start up in business to be more independent and to obtain the full financial reward for their efforts.
“Success in business depends on many factors – most important is the need to critically review all aspects of the business proposition before progressing too far.
“This kit highlights many of the practical points that require consideration before trading begins.”
Andrew added a word of caution and warned that the path to business success was often rocky, with 171,169 company dissolutions in the UK between January and March this year.
He added: “Whatever the reason for considering setting up in business, a number of dangers exist. A major concern must be the risk of business failure despite considerable effort and finance having been put into the venture.
“Time spent in making the decision and thinking through plans will minimise the risk of failure. Also, the support and understanding of family and friends is essential.
“I would urge anyone thinking of launching a business to study the New Business Kit thoroughly to ensure full awareness about what it entails. At HWB we are always there for support and this resource makes vital information immediately available.”
The kit is broken down into 12 chapters, including selecting a business structure, registering with the tax authorities, accounting and bookkeeping, VAT, payroll taxes and pensions, income tax, planning and forecasting, credit, insurance, advisers, systems and useful links.
It is in addition to HWB’s online Business Resources Centre which offers a selection of links to handy guides and business resources to help with key aspects of starting, running and growing a business effectively.
See https://www.hwb-accountants.com/wp-content/uploads/New-Business-Kit-2021-22.pdf for full details.
Chartered accountants HWB, headquartered at Chandler’s Ford, near Southampton, provides business and tax advice.
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NOTES TO REPORTERS
HWB Chartered Accountants
Highland House, Mayflower Close, Chandlers Ford, Eastleigh,
Hampshire, SO53 4AR
Website: http://www.hwb-accountants.com
Phone: 023 8046 1200
E-mail: admin@hwb-accountants.com
Twitter: @HWB_Accountants
LinkedIn: hwb-accountants
Facebook: @hwbaccountants
HWB Chartered Accountants was founded in 1985 as Hopper Williams & Bell and is based near Southampton. The firm provides accounting, tax and business advisory services to organisations across Hampshire, Wiltshire, Dorset & West Sussex and beyond.
As one of the leading firms of chartered accountants and business and tax advisers in the region, HWB offers the depth of resource and specialist skills of a national practice but remains dedicated to the personal approach.
Services include: accounting services, audit and assurance, auto enrolment, business strategy & planning, corporate finance, HMRC enquiry fee protection, human resources, international services, IT services and solutions, online accounting, payroll services, personal tax services, probate & estate administration, specialist tax and financial planning.
Specialisms include: education sector and academies, architects, charities, FCA accountants, healthcare, legal, logistics, property accountants, recruitment and travel.
HWB’s motto is Experience the difference.
The firm produces a series of guides and tax cards and has a resources centre on its website, as well as staging seminars and events on a regular basis. The HWBulletin is published bi-annually.
HWB is registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales (ICAEW)
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