Are you running a business in London?
Running your own business can be exciting and rewarding, but we know that despite all the people around you, you can sometimes feel completely on your own.
So where can you turn to find support? That’s why we created Eye on London.
We’re an online hub providing support for London’s businesses, to help you find the information and guidance you need.
There are lots of organisations offering information and support. London Business Hub gives advice to all types of businesses, along with regular networking events so you can meet like-minded people, share ideas, and find opportunities in your local community.
Finance and support
How do I write a business plan?
If your mind is flowing with ideas, but your brain blanks every time you go to write a business plan, don’t worry! It’s completely normal. Firstly, take a breather and don’t panic at all the white space on your screen. To write an effective business plan, you’ll need to map out the following:
Setting up a new business is super exciting, so congratulations! But now you’ve come up with the business name, what’s next? You’ll need to register your new business, and the process for this depends on what type of business structure it is that you use.
This is often the first decision to make in a new business, and has long-term implications for how tax efficient you are. There are pros and cons to every type of business structure, depending on your individual circumstance.
Check out GOV UK for advice on the different types of business structures.
Choosing an accountant can be a bit daunting, as most major decisions tend to be. There are a few things to consider when searching for an accountant.
Some people prefer to meet their accountants face to face, but if you’re looking for an accountant that’s going to be perfect for you, sticking to your local high-street might slim down your options.
Online accountants might be a good alternative, offering the same standard of accounting services, but with an infrastructure set up for online delivery.
If you’re a sole trader or contractor, you’ll probably find a smaller firm is better suited to you. If you’re a large business with different needs, a larger firm may be more suitable.
Always shop around, read reviews, and ask similar businesses to you what they’d recommend.
Check out sites like Trustpilot to see how current/previous customers feel about the service they’ve received. There’s always going to be some negative feedback, especially if it’s a larger firm. But if the bad is outweighing the good, it may be advisable to have a look elsewhere.
Check out our guide to changing accountants