Running a business can be very rewarding and satisfying. There are a number of great guides available to help you get you thinking about all the start up activities you need to do. Google ‘starting a business‘ will allow you find all sorts of tips.
Here are some useful sites and resources that we have found.
- Business.govt.nz – Starting or buying a business
- HM Revenue and Customs – Starting in business
- Business Victoria – Starting your business (pdf)
In this section we cover some of the accounting administration activities and processes you need to think about. A useful model is to think about the daily, weekly, monthly tasks that you should regularly do. You will find that some things are useful and some less so. It’s interesting to ask other small business owners how they run their business. What are their basic processes.
You can get a good overview of the sort of things small businesses need to think about when they set their financial administration systems up by looking at the Xero Getting Started Guide to get the basic information you need into your system. This provides a starting place for adding the day to day stuff that your business is made of. Depending on what system you’re coming from you might have some information you need to collect and enter. If you’re not sure what to do or want some help, you can invite someone else, perhaps your financial advisor, to help you set things up.