Starting up and running a new business can be an extremely exciting time for any budding entrepreneur. New ideas, challenges and potential riches are just a few factors that drive and motivate us in the race for success.
However, the thrill of being in control of your own enterprise can rapidly become outweighed if the basic business fundamentals are overlooked. These fundamentals enable us to put the necessary processes in place to manage the day-to-day challenges that face us.
Staying ahead in profit and managing cashflow are just two examples of make or break areas that cannot be neglected if a business is to have any longevity and survive. Couple all of this with the current economic uncertainty and potential credit crunch, it's surprising anyone is currently looking to start out on their own at all.
The pressures of running your own business and the current economic uncertainty can be minimised if the correct business systems are in place to keep you organised and most importantly, on the right side of the red tape.
The challenge for many of us is to make sure we stay on the right side of the red tape and implement these business systems effectively and efficiently. In doing this we help to promote good business practice and minimise the risk of encountering any legal, legislative or financial problems at a later date.
The saving grace, for anyone running a new business or looking to start up on their own is that there are many business system solutions available in the current market place. VAT accounts software, HMRC payroll solutions and customer management systems are all essential tools in today's business environment and with added support and advice services available, even the weight of legal and legislative concerns can be lifted.
Matt Forrest is head of TAS Software. For more information visit www.tassoftware.co.uk
