The 12 Days of Starting Your Own Business. Day 6

Day 6 in our a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

Records and book-keeping – once you are trading you must keep records of what you’re buying and selling. Depending on the size of your business you can still just keep paper records but you should also consider the advantage of some of the software products now available, and how they can make things more efficient for you in terms of dealing with your records.

Want a paperless office? It’s a reality for many using cloud based software, and software that can scan and extract information from invoices and receipts without having to type anything in. So much can be done remotely these days in terms of supporting a business.

Whatever means of maintaining your accounting records you need to keep them for at least five years and six if you go down the limited company route.