This is a guest post.
Setting up your own business, earning your own income and creating a new life for yourself all sounds great, doesn’t it? But in these tough economic times, it isn’t the easiest thing to do; so it’s important to be serious and have a plan. The first step is to educate yourself on what is required, before you can even get started.
1. Have a plan
Writing a business plan may sound like a needless task when no one will see it but you. However, just doing this will help you map out where you intend to go, with key milestones, supported by information on how you’ll achieve this. This will help you calculate all your costs, create an annual budget and give you a stable base on which to build your new business.
At this stage you need to think about the business savings account you’re going to open for those all important funds. Choosing to set up a business account allows you to choose from a variety of fixed rate and flexible access business savings accounts to match your personal requirements.