Top five things people are most afraid of business
VAT is not a difficult thing to afraid. The only thing which need a special care is to keep proper record. You should have a clear idea about the VAT you have charged on your goods & services and the amount you have been charged on the goods and services you have bought in. Its only the simple calculations and the common sense. You will have to register for VAT only if your turnover is more than 67000 pounds. But don’t say it as an excuse not to develop your business.
Its very important to learn the spread sheet ideas inorder to comply with the current developments since its a valuable skill.. So learn the spreadsheet with the help of a tutor or website for that. We will get lots of books which explain the theory of the spread sheet. www.spreadsheet123.com is a very useful site for the study of spreadsheets
We are responsible for the employee salary, tax and national insurance payments. Once we keep a clear cut system for everything payroll is a simple and loving thing.The thing indeed is the systematic control.
Incorporating business to a limited company involves a bit more paper work and good knowledge skill.But its not a big deal since we get a help line at Companies House that can talk to you in each and every step.
Fear of failure may be the reason for most of the people not starting a business.People don’t want to make their family into a risk by starting a business.this is because of the rumors regarding the failure of 50% start up business in the middle of the second year.But this count is based on the closure of business bank accounts and not the closure of business.Anyway be affirmative and no matter what happens to your business , you will success in acquiring your skills and knowledge and that will increase your earning power.If you don’t give it to go you wont fail but once you don’t accept the possibility of failure , you will never get success.