Why The Time is Right To Launch Your Business Startup
If you’re thinking it’s a bad time to go into business, think again! Notwithstanding a few of this new century’s devastating economic ills, recoveries are on the rise.
This is not only great news for our entrepreneurial inclinations, and our society as a whole. And, just in case you need a bit more of a push in pursuing your business startup dreams.
BENEFITS TO A BUSINESS STARTUP
Money, Money, Everywhere
There are quite a few funding opportunities from private lenders and investors, to be sure. In this regard though, think (and do plenty of research) before you act. Remember an investor is essentially becoming a partner, and gaining equity in your company. Be sure to review this option with a solicitor experienced in business and company law, who can pull together all the facts and help you make a good decision.
Any funding process can take a while, however the rewards may be well worth the wait. With lower interest government loans and outright grants included as options, you should definitely give it a go. One note: you should be aware that grants usually require that you match their award amount.
Taxes and the Self-Employed
You may be dreading saying the word out loud: T-A-X-E-S. Now, breathe. We know the word conjures up huge amounts of added paperwork, boxes of receipts, potential audits and fines. But wait, there’s more!
Can you spell A-D-V-A-N-T-A-G-E-S? That’s right! Remember all those costs you previously incurred but never were allowed to deduct from earnings, before paying your self-assessment return? Well, the good news is, in most cases, now you can.
We all know that maintaining an (unreimbursed) office in your home costs money. From telephone and Internet installation and monthly fees, to laptops and printers; from supplies to direct vehicles expenses – it all adds up, doesn’t it? Now that you’re looking to start a proper business, these expenditures can be deducted from your profits prior to paying those nagging taxes!