Things You Probably Won't Think About When You Start a Small Business

desk of a small business owner with a laptop and notice board

You have an idea, and at some point in your life you act on it. This can often mean making huge changes to your working life that includes leaving a stable job and starting up on your own. It is exciting, it is overwhelming;Mekong, but it yours and you are proud of it. You think you have it all covered, and you probably do have the basics all worked out, but there can be things that you forget about or not even consider. So here is a gentle reminder of some of the things you might not think about as you run your small business and conquer the world. 

Getting your taxes just right
When it comes to your small business one thing you can forget about is the costings to your company and one of the big ones is tax. Whether you are just one person or you have progressed on to hire staff and outsource areas of your business tax is a huge part of the fundamental cash flow of your business and one not to forget. This is why the Making Tax Digital concept could work in your favour. Enabling you to be more aware of what you need to pay out and making sure you tick that box before it becomes a burden to your business. 

Having a place to call your own 
Sometimes starting your own business will give you grand ideas of a big corner office with a widespread view of a city, but the reality can be somewhat difference. You do need a place to be able to call your own, in order for you to concentrate and be productive. This may be a corner of your home with a desk and computer setup, a spare room to call your office, and perhaps one day leading on to a business premises or a shop. Having a dedicated place of business helps you to stay accountable. 

Placing a value on your time 
There is no hiding from the fact that you need to place a value on your time. At the beginning of your business journey, you will possibly run all aspects of your business. But as your business progresses, you will have less time to do everything and then will need to decide where your expertise are best suited. This is when you may hire specific staff members for certain roles in the business or outsource things to help free up your time to move the business forward. This is actually a really positive step for your business. 

Making an impact in the digital world 
Finally, there is no denying that a business cannot function these days without some from of digital presence. This is your website and any social media platforms that you have. It is also one of the easiest ways to bring yourself new clients and customers. A decent social media strategy, linked with a website that is optimised with the right keywords and SEO focus can help your business thrive. 

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