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Why Young Guns Shouldn’t Leave It Too Late

Press release October 9, 2012 Business

With 30,000 New Companies About To Be Launched Across The UK, Edinburgh Accountants Are Keen To Raise Tax & Payroll Awareness Among Scotland’s New Entrepreneurs

The announcement that £82.5 million is going to be made available over the next three years to help fund the creation of 30,000 new companies across England, Wales and Scotland was welcomed by the business community as a step in the right direction.

The scheme launched by the coalition government aims to support younger entrepreneurs far and wide with initial funding of around £2,500 per company.

The initiative will also provide support for these new business owners aged 18-24 year-olds in the form of business mentors to assist first-time business owners.

Inevitably, it is hoped these fledgling businesses will grow and prosper and soon generate significant job creation across Britain, which is why accountants in Edinburgh are keen to stress how important it is for new and young business innovators to pay attention to their tax and payroll services.

“Accountancy is a fundamental concern for any business,” Angela Young of 123 accountancy in Edinburgh explains. “Whether large or small, new or established, businesses need to make their operations and activity accountable. But it is best that new entrepreneurs think about it as early as possible, because it saves an awful lot time and trouble if their tax and national insurance and even payroll issues are handled from the very start rather than a year’s time when problems getting their accounts in order can arise.”

Miss Young went on to add that young entrepreneurs need to realise that an accountant holds the ability to influence the success of their business. Sometimes this is done directly, and at other times indirectly. See chartered accountants in Edinburgh for more information.

And it can all be done online too.

“Anyone starting out in Edinburgh or Fife as a small business or sole trader,” says Miss Young, “and doesn’t have an accountant yet will need to ask themselves, Why not? It may sound unnecessary, especially if their business is small, and we are aware that accountancy in Edinburgh sounds like a luxury paid for by big businesses and companies with several workers on the payroll, but we can’t underline the fact enough how vital good accountancy will be for the success of any business.” See to know more about accountancy.