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Why start ups need a CIMA Non Exec

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Entrepreneur startup business model

Before you have even started trading, getting advice from an CIMA accountant can be critical here are some key areas where advice can really help:

  1. Creating the Business Model and Business Plan
  2. Obtaining Loans, Finance and Investment
  3. Business Structure, Shares and Shareholder Agreements
  4. Choosing Accounting and Business Software and Systems
  5. Creating a Cash Flow Forecast
  6. Understanding your legal duties

Then when you start trading……

  1. Tax Compliance – PAYE, NI, VAT, Corporation Tax
  2. Pensions – Auto Enrolment
  3. Managing relationships with Banks and Investors
  4. Budgeting and Forecasting
  5. Product Pricing and Tendering

Once the business has become established……

  1. Growth Strategies
  2. Funding Growth
  3. Research and Development
  4. Decisions on whether to buy or rent new equipments and premises
  5. Managing the Cash Cycle

CIMA Accountants have worked in business, they understand from the inside what running a business is really like and how to make a business successful.

You can also get some useful tips from HMRC http://www.hmrc.gov.uk/startingup/

steve@bicknells.net


1 Comment

  1. Reblogged this on The Accounting Factory and commented:
    An excellent article from Steve Bicknell, which provides further clarity on CIMA Accountants & their involvement “within” business.

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