HMRC have announced that by 2020 they expect all businesses to upload their profit and loss quarterly and electronically. Though we are still awaiting the details of how the logistics of it will work, two things are sure:
it is definitely going to happen; and
having a cloud accounting system in place will make this as easy as clicking a button.
I have been working with new businesses for the best part of five years at Larking Gowen, and having married last year, it struck me how similar the two things can be.
Taking the leap
From the moment I proposed, it seemed that every free hour was consumed with making plans. Having your own business can feel the same; it will take a lot of time, but it really is worth taking that time at the start, as this will mean that everything that follows is likely to be smoother.
At Larking Gowen we help new businesses start up and flourish by being there to support them and by providing practical business advice. We also help to arrange networking events for new businesses so that they get to meet with likeminded entrepreneurs and other businesses at the start of their journey in order to share experiences and advice.