A new venture is an exciting prospect, but it comes with lots of challenges and risks. A good accounting team can support you with your business plan and ensure you establish good financial practices to give your startup business the best chance of success.
Welcome to Archimedia Accounts, Business advice and accounting for startups
Archimedia Accounts has been dealing with startups for over 15 years, and we have a lot of commercial knowledge and experience, not just in accounting.
From our perspective, a good startup is one that already has a robust business plan and evidence of its ability to make a profit. As part of our process, we will rigorously question your plan with a startup business system, developed through experience with hundreds of businesses. Not that we are rigid in our way of thinking, but we are certainly not yes-people who will pull the wool over your eyes.
As your dedicated startup accountant, we can help your new business get off on the right foot.
Contact us to apply for a free consultation today.
Benefits of using accounting services for startup businesses
When you work with an experienced and professional accountant like Archimedia, there are so many benefits to your fledgling business. Here are just a few.
New businesses can benefit from a range of accountancy services to keep them compliant, including assistance with Corporation Tax planning, bookkeeping, accounting software, tax returns and company accounts.
Your dedicated accountant will ensure you understand your legal and tax obligations to HMRC and Companies House. They will help you to establish good bookkeeping practices and prepare and file your tax and statutory accounts, giving you valuable peace of mind.
A good startup accounting team, like Archimedia, can help to reduce your tax liability. As your tax advisor, we’ll leave no stone unturned to uncover tax reliefs to benefit your business and help grow your personal wealth.
Even if your new business isn’t making much (or any) profit in the beginning, you can build up tax savings to then set off future profits. We’ll always ensure you understand the tax implications of each decision.
Useful business contacts
As your dedicated accountant we can share experienced, trustworthy and cost-effective industry contacts. For example, we can make recommendations to lenders for raising finance (for long-term or initial funding), to marketing companies and lawyers.
Valuable commercial support
Accountants are naturally commercially focused. Our supercharged commercial team can provide advice on how to maximise your company’s performance. They will:
- Reduce risk by stress testing your business plan to ensure your numbers are robust.
- Help you establish the business systems required for success, that have been developed over decades of real-life success – not just theory. The pillars of a successful business are marketing, a sales system, an operations system and, of course, a finance system.
- Ensure you have a strong plan to build passive income, and grow your personal wealth.
Business structure and limited company formation
Having an accountant register your limited company with Companies House can be a good time-saver, but it may be more cost-effective for you to do it yourself. A great website we recommend for doing this is Companies Made Simple, for most people their basic package is enough (though you may want a deeper read).
Company formation is one thing, but it is definitely wise to get your accountant’s advice on which type of business structure is right for you, as a limited company may not be the way to go for you.
As your dedicated startup accountant, we will make a thorough assessment of your situation and advise on which business structure is best for you before you embark on your new venture. We can advise on whether the sole trader or limited company structure is the most profitable route to save you £1,000s, even £10,000s, in tax relief.
Get in touch with Archimedia Accounts today
The Archimedia team are not only experienced accountants for startups, but also successful entrepreneurs with plenty of business acumen. We are commercially focused and dedicated to making your new business as profitable as possible.
Our family team has a large property portfolio and so are well-placed to help you on your journey to growing your wealth and passive income.
Is it worth hiring an accountant for small businesses like a startup?
Of course! Not only will your accountant help you to fine-tune your business plan, mitigate risk and set up good accounting processes, they are also a valuable sounding board.
The early days of a startup can be hard work, and professional accountancy services can free up your time, ensure you stay compliant, and save you money.
Do you work with SEIS and EIS?
SEIS (Seed Enterprise Investment Scheme) and EIS (Enterprise Investment Scheme) are government initiatives that offer tax reliefs to investors in small, early-stage companies. Archimedia has a lot of experience with SEIS and EIS, so please reach out to us for advice.