Kennedys Accounting are ‘here to help’ with your company start-up accounting

Kennedys Accounting are ‘here to help’ with your company start-up accounting

So far in 2024, nearly 76,000 companies have been set up, with Kent, Essex and Westminster the most popular areas to start a business.

In fact, with Surrey and Hampshire making up the top 5 areas, which between these 5 areas account for over half the new companies incorporated.

Top of this list is Kent with over 8,000 of these companies and with small businesses making up over 90% of the workforce in the UK, the survival rates of business are crucial.

However, with a survival rate for small businesses in Kent at only 40%, which is broadly in line with the national average – how can we help to push this rate higher?

Research from Bizspace has been quoted as saying ‘The top performing areas, predominantly in the southeast and East of England, benefit from high productivity levels, strong business survival rates, and an educated workforce’.

There are a lot of plates to spin when a new company is incorporated, contracts, staff, planning your personal cashflow, long working hours and marketing yourself all of which takes a lot of your precious time.

But research has shown many times that ‘surrounding yourself with the right people’ is key to the success of a start-up business, alongside all the of the list above, which are clearly important, but who are these right people and where will you find them?

• Other business owners can be a great source of help, people you trust and have a relationship with and maybe have worked with before, these contacts  could be key and are likely to also have issues they would like to share, and experiences that could assist!
• Your Accountant – keep them informed about your business ideas and get valuable advice when incorporating your company to ensure it is set up in the right way and build an excellent relationship to assist you going forward.
• Networking or membership groups such as the chambers of commerce have access to various resources that may be useful in various ways.

These are of course just ideas, the person who knows your business and its capabilities best is you, the business owner, but sometimes when a curve ball comes along its great you have these professionals in your corner.

As business owners it is always a great idea to have a ‘virtual table plan’ – who would you like to be sitting around your table, we would love to get an invite here at Kennedys Accounting, so please get in touch, its important to have an accountant by your side right from the start and we have the experience and staff available to assist you, so please feel free to get in touch.