Coronavius has impacted us all. Its estimated around 3.5 million people in the UK have become unemployed as a result.
While many businesses have ceased to trade because of the lockdown measures since March, many people have found themselves unemployed.
But this can also be a positive for new business.
As big corporations scale back, more room can open up to small business.
As an example, While many of us decide to work from home, instead of traveling in to large cities, trade in the retail and hospitality sectors have declined in those large cities, but we're starting to see a come back for the smaller retailers in local town centres.
This is likely to be the "new normal" for the foreseeable future. So now is the best time, to consider starting up your own small business, to take advantage.
At Courtier and Courtier, we can help you with starting up your new business. From helping to guide you with what you need to do to get your business off the ground, to making sure you comply with all your tax obligations.
Some new business start ups make the mistake of going at it alone, and considering appointing an accountant at a later stage. This can be costly in the long run.
An Accountant will advise you of a number of things such as, whether the business is likely to make a profit, explaining how to operate and maintain accurate records, and even planning exit strategies with minimal tax implications.
It may be that starting up a new business as self employed is the right or wrong choice, other income and circumstances play a major factor in deciding which type of business model is best suited for you.
Ask any accountant, and they will tell you, one of the first things you should do when considering a new business, is to appoint and accountant.
So why not get in touch with us today, for a free, no obligation consultation, to discuss what we can do for you.