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If you are setting out in business
on your own for the first time often the financial and accountancy
side to your business can seem quite daunting. This section
tries to answer a lot of those questions and will hopeful put give
you an idea as to your fist steps in accountancy and finance.
What records should you keep?
Book-keeping isn't just a means of satisfying the tax man, it
can tell you an awful lot about your business - how well it is
performing, how you could cut costs, which of your customers are
buying from you the most etc. So book-keeping is extremely
important. In order for your accountant to provide this
information for you, they will need a certain amount of data which
you have pulled together over a twelve month period.
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Tips to raising finance
If you are considering raising capital through a third party i.e. a
bank, then you will need to be well organised and prepare your argument
well. What will you need to prepare? how should you prepare
it? what will you need to do? all these are important issues to
consider.
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