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All businesses are required to keep financial records under the rules of Self-Assessment. The easiest method is by a simple cash book system showing income and expenditure. This can be done manually or by computerised systems.
You need to understand where income is coming from and where expenses are going. A business is about producing profit and generating cash. How do you know when this happening or not? If there is no control mechanism the chances are, you will not know until it is too late.
The workshop will explain how to structure and use financial records, develop a monitoring system and be aware of actions that should be taken.
The session will also give you a gentle introduction to tax (including vat and national insurance), and alert you to some issues that you will need to know for your new business.