By Phil Spalding

cambolc.co.uk, @cambolc, linkedin.com/in/philipspalding66

A good time to set up a business is when the outlook looks gloomy. So an adage from a former business leader (whose name I can’t remember) goes as it means that the ground rules for your enterprise are set on the worst case scenario setting. Shocks can therefore not harm your business as they are already inbuilt.

Over the years I have occupied a number of management roles, directorships (some short lived), done battle with the taxman and won. The trick is to play by the rules and take as much advice as you can, preferably free from government agencies such as Menta. The complexities of setting up a business can be such that you end up spending more time on admin which does not bring money into your business than you do on actually earning the money. The professional services industry, insurers, accountants and lawyers are a necessary expense. Selecting the right business bank that automates as many of these processes so that when the taxman wants his cut of your hard earned money it happens at the touch of a button is a definite way to go.

Remember professional services especially accountants will always put on the front of their advice, “To the best of our knowledge this is a true and accurate account based on information supplied”.