Research Reveals Top 10 Questions New SMEs Have

Research by ICAEW’s Business Advice Service has found the most frequently asked questions that people starting new businesses want answered:

1.When should I write a business plan and how do I do it?
2.How much money will I need to set up my business?
3.How can I raise the finance I need for my business plans?
4.How much should I pay myself?
5.How should I approach recruiting new staff?
6.Should I go into partnership with someone else?
7.Do I really need an office?
8.Do I have to set up a limited company?
9.What marketing and advertising should I be considering?
10.How do I find the business support and advice I need?

Clive Lewis, Head of Enterprise at ICAEW said: ‘These questions may seem simple, but starting a new business can be complicated and daunting. A competent professional adviser can help your business make a strong start – a Chartered Accountant is best as they can provide business advice as well as helping with the technicalities of setting up a business. If you need more specialist advice, they’ll also be able to point you the right way.’