How to Start and Run Your Own Home-Based Business

Matthew Thomas

Language: English

Pages: 174

ISBN: 2:00286528

Format: PDF / Kindle (mobi) / ePub


How to Start and Run Your Own Home-based business is a new book for budding entrepreneurs. The book takes you through everthing you need to consider before starting a home-based business - from assessing the pros and cons, through drwawing up a business plan and cashflow forecast, to matters such as marketing and credit control, and later deciding when and how to expand. The book is crammed with detailed practical advice, backed up by carefully researched facts, figures and contact information.

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different range of products from a mobile snack bar in the middle of a factory estate. Any of these forms of segmentation can be further segmented. For example, you could sub-divide private vehicle owners into car owners, van owners, motorbike owners, and so on; and these groups themselves could be further sub-divided into Ford owners, Nissan owners, etc. The purpose of this is to find one or more market segments which will (you hope) provide the customer base for your new business. You will

least) on their own. One common complaint among such people is that they miss the day-to-day banter of the office or shop floor. They also miss having colleagues to turn to when it comes to making difficult decisions or solving problems. Although at first sight the above may appear rather daunting, it is important not to over-emphasise the possible drawbacks. The truth is that for many people, especially those of a go-getting and entrepreneurial temperament, the attractions and advantages of

• invoice reference number • date issued • to whom • amount • date payment received You could also include a column in which to record details of reminder letters/phone calls (see below). Checking regularly in your invoice book will help you keep track of accounts that have not yet been paid. Credit Control Most customers will of course pay your invoices within the period specified, but sometimes the required payment fails to arrive. In this case you will need to consider what further

and financial structure for the type of business you are starting (2) advice on possible sources of additional funds (3) advice on what books to keep and (if required) doing the book-keeping (4) preparing financial accounts and tax returns (5) liaising and negotiating with the tax authorities (6) advice on future financial planning to minimise your tax liability (7) advice and assistance with controlling creditors and debtors (creditcontrol) (8) general financial advice, for example with

willing to provide references, and get in touch with these people. Finally, bear in mind that anyone can call himself an accountant, so check that the person you wish to appoint has the appropriate professional qualifications. Cost How much an accountant will cost depends on the type and amount of work involved, and this can be difficult to predict in advance. Nevertheless, most accountants will give you an estimate. For a straightforward service involving preparation of accounts and occasional

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