Pro Landscaper July 2023 by 44Group

10 TIPS for STARTING A BUSINESS

OPINION

Kim Sones offers advice to those looking to set up their own business in the landscaping industry

Business Structure The most popular business structures are sole trader and limited company. There are advantages and disadvantages to each, so research which type of business entity is suitable. Business Bank Account You need to open a business bank account as business and personal finances must be kept separate. There are different bank accounts available so consider what you need the bank account for; i.e., will you need to pay in cash, or will it be used for electronic transfers? Insurance and Licenses All businesses need insurance, but which level of insurance is best for your business? Consider how your needs will change over time. Depending on the services you offer, you may need to apply for certain licenses.

Pro Landscaper | July 2023

Business Investment Usually, businesses in the landscaping industry are a simple model and can be started on relatively low investment. Decide on what investment you need to get started and how you are going to fund any initial purchases. Marketing There are many ways to market your business, so consider who your ideal clients are, where they are located, and how you can potentially reach them. Would they search on Google when looking for your service or find you in a magazine? Online directories, social media and building a simple website are low-cost ways to start your marketing. Your Services Start by assessing your knowledge, skills and experience. Can you specialise in a certain area to help you to stand out from your competitors? Pricing Working out what to charge clients can be tricky at first. A good starting point is to find out the prices your competitors are charging for similar services. Employees Identify if you need help in advance as it can take time to find the right employee or subcontractor for the job.

9 Accounts When you make a sale, customers need to be sent a sales invoice. Your sales and expenses need to be recorded, firstly to calculate if the business is making a profit, loss or breaking even, and secondly to monitor sales (turnover) so you know when the VAT threshold is near. Currently, the UK VAT threshold is £85K and is calculated on a rolling basis. This means the last consecutive 12 month period must be monitored each month. Processes and Systems There are many systems for increasing business efficiencies and arguably the most important is your accounting system. Businesses need processes in place before they can scale, so you should start implementing processes from the outset if scaling is your plan. It is difficult to predict the future of a business; however, consider how you want your business to look in the years ahead. This will create a road map and help you to make the right decisions along the way to your final destination.

KIM SONES Kim Sones is the owner of Sones Accountancy Services Ltd, an accountancy practice specialising in the landscaping industry. Kim and Matt Eden of Eden Horticultural Ltd have created a Facebook group called ‘The Landscaper’s Hub’ to help those starting a business in this industry and provide tips, advice, and a safe space to ask questions. sonesaccountancy.co.uk

uilding a business is not for the faint-hearted. It takes hard work, determination and grit to run a successful business, especially in the early days. The first thing to ask yourself is: Do I have what it takes? If the answer is yes, then you will embark on an exciting journey full of challenges, lifelong learning and self-fulfilment. Here are 10 important factors to consider when starting a business:

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