Another great enterprise club this week with Robert Jackson, Accountant. The start-ups were very engrossed in his stories of the messes sole traders and businesses have got into, and the simple remedies. Not sure if this link works to the video
There was far too much to pass on here but the 10 start-ups were very grateful and positive for Robert’s down to earth style and his willingness to help, answer ‘silly’ questions etc.
- Make sure you are clear about terms of business – everything must go in writing. (EG Maggie makes it clear in her terms that she does not have medical training)
- Keep on top of cash flow – businesses can go bust with full order books.
- Don’t be shy about pushing for payment – be firm
- You must have public liability insurance – you would be bonkers without it
- Attend the Chamber of Commerce breakfasts – people there want to help you
- Don’t become a public limited company until you have to. It costs money and time. Wait until you are employing 2 or 3 people!
- Constantly review your business – Robert’s business is for ever changing. He would not have guessed at what the business does now 2 years ago.
It was great to see all the trading and help that took place afterwards. It’s difficult to keep up with the progress that start-ups are making! 🙂
And thanks to Begonia for the delicious falafels!