Embarking on a Thrilling Business Adventure

Start your business adventure with us!

Helping people start up their new dream business is one of our favourite things to do. We love to hear someone who is passionate and excited about their new venture and that we get to embark on that journey with them. We have many clients who have successful businesses and joined us right at the start. You can read more about their journeys.

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DON'T DO IT ALL ALONE!

Tax returns

Starting a business is hard enough.

Don't worry, we've got you covered.

We'll help you register with HMRC, handle tax compliance and planning and make sure you never miss a deadline

Marketing

SEO Analytics

Content Marketing

Branding

Social Media Marketing

Content designing for websites and Blogs

Email Marketing

Man struggling with Weight, Pressure of juggling everything running a business.

Business Plan

Secure your future with a solid financial plan.

Let's get you started with budgeting. From there, we'll explore your options and map a plan to help you reach your goals.

Software

Choose with confidence

What software is right for you?

Can it do what you need?

Are there add-ons to make your life easier?

Is it compatible with MTD?

Will it file your VAT return?

Advice

Let us demystify tax with layman's terms.

Understand the difference between Corporations tax and personal tax, the basics of CGT on the disposal of an asset and get ahead with tax planning, all while staying on top of the ever-changing tax legislation.

Bookkeeping & payroll

Master your money

Keep track of what's coming in and going out

Create invoices for sales

Record expenses

With great power, comes great responsibility

Starting your own business can be challenging and some costly mistakes can be made.

Most businesses fail within the first few years or even months. We are here to help you avoid some of the most common but fatal mistakes.

Many people think starting a business is just having an idea and opening shop the next day. But there is so much more to running a business, just ask any business owner.

Start smart with us.

Our customer satisfaction rating of 5 stars speaks for itself. Join the ranks of successful start-ups.

In the UK, it has been reported that up to 60% of small businesses fail in their first three years, with 20% being in the first year.

BUSINESS PLAN

One of the most crucial steps in creating a successful business is developing a well-thought-out and organised business plan.

So many people start a business without a short or long term plan and just try to "wing it". This can end up being very costly and ultimately the business could fail.

A business plan can help keep you on track and give you a clear path to success, it can also give you options if something isn't working. Your plan should be carefully structured to include detailed strategies.

You can contact us and we will happily help you get things started or alternatively you can find a business plan template from HMRC here.

MARKETING

In addition, having a strong marketing strategy can also be crucial to your success.

Many new businesses waste precious start-up funds on advertising and branding without fully understanding who their target customers are and why the product or service they are offering is essential for them. Creating a customer persona is a really good way to get inside the mind of your customer to see how you are meeting their needs.

Here is a free link to create a customer persona to help get you started.

It's good practice to have a marketing strategy plan, so that you can see which things work well and which things don't. This way your marketing is less "stab in the dark" and more targeted to achieve the things that you want it to, saving you time and a lot of money in the long run from return on investment.

ACCOUNTING PACKAGE

It's also extremely important to choose the correct business structure, such as a Limited Company or Sole Trader. Many business owners are unaware of all the expenses they can claim or which taxes they are liable for. There are numerous reasons to seek our help in getting your business set up correctly so that you start on the right footing.

Launching a new business can be daunting, but having someone with experience can be reassuring and reduce stress while also freeing up time and saving you money.

We offer reduced accountancy fees for the first 6 months of trading to take away any undue financial pressure on your new business.

This video explains why budgeting for your business is important. This is something we can help with so you can plan and have you options, if and when you need them.

THE PLAN, THE DREAM

Tailored business packages to suit your needs and dreams, some starting at just £10 per month for the first 6 months.

We understand that starting your dream business is a priority for you and we make it our priority to help you make it happen.

We offer customised packages that cater to your unique needs, recognising that every business is different. Our unlimited advice comes with all packages and we welcome any questions, no matter how small they may seem.

With our bespoke start-up package, you'll have peace of mind knowing that someone is available to help you if things don't go as planned. We'll also help you save your hard-earned money instead of seeing it go to the tax man.

Frequently asked questions by new business owners

Essential Tips for Starting a Business

Starting a business is an exciting adventure, but it's important to stay focused and prepared. You will find plenty of information on this page but here are a few tips to help you on your journey

Be motivated - There will be ups and downs in business and your motivation will keep you focused on your goals

Get the right advisors - With all of the aspects of running a business, you can’t be expected to do it all. Surround yourself with the right people that will support and help you along the way

Get your finances in order - Your new business may not make any money in its first few of months, make sure you have savings that can support you, should your new business not be able to.

We hope this gave you a quick run down on some of the things that you need to consider when starting a new business. If this is something you wish to discuss in more detail, get in touch

If you're not making money yet, you may still be eligible for working tax credits, child tax credits, and housing benefits, even if you're already receiving them. Speak with your Status Officer at HM Revenue & Customs to discuss when you should register as self-employed and how it will impact your benefits and National Insurance payments. You can also check on the governments website what you may be entitled to.

If you need more specific information on which benefits will be affected, please get in touch.

Business registration can be a complex process. We're here to help simplify it for you whether you register as a sole trader, partnership or limited company.

If you’re running a home-based, low-risk small business, registering as a sole trader is likely your best option. It’s a simple process that involves telling HMRC you pay tax through a Self Assessment. We include this service as part of our start up package for no extra charge.

When you're in a partnership, you'll need to register with HMRC. You'll also need to choose a nominated partner who will be in charge of taking care of the paperwork and taxes. The partners of a business split the profits and are responsible for paying their own tax. The partnership, as well as the individual partners, will need to register with HMRC. We include this service as part of our start up package for no extra charge.

Registering your company doesn't have to be complicated. Become a separate legal entity by registering your business as a limited company. You'll need to be registered with Companies House in addition to HMRC, but we can help you. We can set up your limited company for £49.99.

For further information on any of these, get in touch, its free to ask.

If you're considering entrepreneurship or starting a business without funds, these tips can help you succeed.

Keep your day job, keep calm and get started.

It can be tempting to jump ship and go all-in on your new venture, but that can be risky. Instead, consider keeping your day job while working on your business in your free time. This approach can give you the financial stability you need to get your business off the ground. Once you're confident that your business is succeeding, you can always transition to it full time.

Choose an idea without the upfront cost.

Starting a business doesn't have to be complicated. Consider a service industry business such as writing, virtual assistance, graphic design, tutoring or photography. There are many others to choose from, play to your strengths.

Additionally, borrowing from friends and family is also a way some people start up on their own, perhaps giving them a share in the business in return.

Lastly, just because you start your business with no money, does not mean you shouldn't follow the advice on this page. Everything described on our start-up page is essential for a thriving successful business. Get in touch, we will happily help you take the step into entrepreneurship and don’t forget, we offer discounted prices for the first 6 months.

In order to get a loan or funding for your new business you will need to be able to produce a clear and concise business plan.

There are several options to get funds for your business. Some of these include bank loans, government loans, P2P funding, cash advances, and invoice finance. Each option has its own pros and cons.

When applying for a bank loan, be clear about the amount you need and how you plan to repay it. Cashflow forecasts can help provide these details and give the bank a better understanding of the loan's viability. They are also likely to check your credit score before confirming the loan.

Government start-up loans can help new businesses get off the ground. If you're over 18 and have been running your business for less than 24 months, you're eligible to apply. You could get anything between £500 to £25,000 with an interest rate of 6%. Pay it back over 1 to 5 years. Click the link for more information.

Consider alternative funding options for your business, like peer-to-peer loans. Private investors can lend you money via online platforms. Keep an eye on fees, charges, and interest rates before making any commitment.

The right support can make all the difference.

Depending on your age and the type of business, you may qualify for specific grants, low-cost loans, and other financial help. One program that could help is the Prince's Trust, which provides some incentives.

The government website Business Link is a great resource to help you with advice on getting grants, loans and other forms of financial assistance, as well as support.

It's crucial for business owners to recognize the differences between company structures and determine which one suits their needs best.

A sole trader is a person who owns and runs their own business. As a sole trader, you are self-employed and have full responsibility for all your business decisions.

Benefits of being a sole trader:

Keep all your earnings after taxes

No need to register your business

More flexibility in decision making and processes

What is a limited company?

A limited company is a separate legal entity from its owners. It can have one or more owners, multiple shareholders, or members. The liability of people within the business is limited to the size of their stake in the company. Even if owned by a single proprietor, the owner and business are still seen as separate entities under the law.

Benefits of a limited company:

Operating as a limited company has many advantages. You, as the owner, are protected from company liabilities. Additionally, you don't have to use personal funds to resolve debt. You can also retain business control. Limited companies have tax benefits and pay only a capped Corporation Tax.

Need some advice on which is best for you? Ask us!

Small Business Journeys

Join some of our clients below and start the dream today

Gareth Richardson

KINETIC RENEWABLES LTD

I started my Solar and renewables business early on in 2022. I approached O’Shea & Co. after talking to my other half, who has been on David’s books for many years.

He offered me phone calls, numerous back and forth emails, and tonnes of support, all of which was priceless to me.

I didn't start full term trading upon my initial company incorporation, so David agreed to offer a reduction in my accounting fees to help support this. From a small business perspective, I have no doubt this helped us grow from the start.

18 months in we are thriving and it is all down to the dedication O’Shea & Co. has. David is supportive both day and night, responsive, and incredibly knowledgeable.

David, thank you for the past 18 months, and I very much look forward to another 18 months, and more, under your care.

Ashley Smith

IPSWICH PLUMB STORE LTD

David at O'Shea & Co. has been nothing short of outstanding for us since taking over our bookkeeping and accounts for our family owned business. Before we started trading we did not receive the best advice from another company on the financial side of running a business, which is very important for any new business starting up.

Since O'Shea & Co. have been looking after us, nothing ever seems to much to ask of them and the advice we have received has been spot on. We have had huge growth and we wouldn’t be where we are today without O’Shea & Co.

Would highly recommend him to any big or small business.

10/10

Nicola Applin

THE INVENTORY SHOP

David was recommended to me by a friend of mine and fellow business owner. I can honestly say he has played a vital part in my business growth.

David not only is the guru I turn to in all things accounting and business, he has also become a great friend.

He has always been extremely helpful with any queries I have at any time of day or night, making everything much less stressful.

They say ‘Knowledge is power’ and David has certainly been a powerful driving force in turning my business into a success; I don’t know where I’d be without him!

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