Tap into Hutcheon Mearns’, (Now Part of Cooper Parry), outsourced finance expertise and set yourself up for success in your new business venture.
Investing time into your business finances right from the start is essential, according to Scott Garden, Head of Outsourcing Scotland.
And one of the first things to get started with, he advises, is funding options – whether you’re looking for external funding or not. From self-funded start-up capital and bank loans to seeking angel or private equity investment, funding should be part of your business plan.
Scott said: “You should understand what you want your business to do, how you want it to operate and what you anticipate in terms of trading activity over your first three to five years. Regardless of whether you initially need it for internal or external purposes, a business plan is key.”
The Hutcheon Mearns advisory team is well placed to source funding for start-ups and they can also help with the likes of business models, so you can anticipate if any funding is likely to be needed at a later point to help you reach your ultimate business goals.
In fact, the finance firm offers a range of complementary services for businesses, from interim specialist projects to recruitment, outsourced finance support and corporate finance advice.
Considering how much there is to think about when launching a startup, having adaptable experts on hand with solutions for almost all finance issues you could face is invaluable.
And while hiring inhouse help is an option, for start-up budgets, outsourcing accounting work can be a simple way to tap into finance expertise. Scott explained: “The Hutcheon Mearns outsourced finance team can provide a cost-effective solution which gives you access to a full finance function, from assistant accountant level all the way to finance director, which you’re not going to get internally by employing one person at a bookkeeper level.”
The Hutcheon Mearns outsourced finance team are well versed in getting clients set up on the Xero finance system and with filing statutory accounts, corporation tax returns and various other statutory documents for clients directly to Companies House and HMRC. Effectively, all clients have to do is review and approve the documents prior to submission.
However you choose to go about your start- up finances, you won’t regret taking the time to get your business setup right from the start. As well as keeping you right on regulations and compliance, it will also ensure you receive timely and accurate financial information from the inception of your business.
And this information is vital for helping you to run and grow your business. With its range of complementary services, Hutcheon Mearns is ideally placed to grow with you.
Scott ’s outsourced finance department, currently a team of six but looking to expand, continues to work with both new and established businesses. Find out more about how this team and other services from Hutcheon Mearns can support your start-up at Cooper Parry | The Rebels of Accountancy.
What accounting work can you outsource?
The Hutcheon Mearns outsourced finance team effectively acts as an extension of your business, allowing you to tap into finance expertise without taking on the cost of full-time employees. They can take care of a wide range of accounting work, including:
- Management accounting, including creating board and management packs
- Help with cashflow, forecasting and budgeting
- VAT returns
- Statutory accounts
- Corporation tax returns
- Setting up or migrating to finance systems such as Xero
- Other ancillary services such as iXBRL tagging for submissions to HMRC
When you feel the time is right, Hutcheon Mearns’ dedicated finance resourcing team can then help you recruit for in-house team members.
This article was featured in The Press and Journal on 29th March 2024.
