Challenges of entrepreneurship
Contributed by: Berley

We live in a time where it has become increasingly popular to become an entrepreneur. Since almost anyone can start a business, there’s a lot of competition out there.

Nowadays, small businesses tend to have a harder time progressing within their chosen markets due to the influx of influential companies and the difficulties in finding suitable funding sources. There are even more challenges that all entrepreneurs, regardless of company size, have to deal with on a day-to-day basis.

Managing finances

Whether you’re a small business, or a business on the larger end of the scale, keeping your finances in check can sometimes become quite a worry. Cash flow management is an essential aspect for any small business, and can be quite a headache. Problems can arise from delayed invoicing, which tends to be quite common in the entrepreneurial world. Our team can assist and advise you on ways to keep the money coming in, as well as on the best way to organise your finances. At the end of the day, our primary objective is to see you grow and flourish as an independent business.

Manage your cash flow

There are various techniques that can help maximise the audience that you reach out to. Companies should prioritise and invest in marketing techniques that have been proven to work well within their sector. Spending smartly on only the best marketing methods, as well as effectively managing rising business costs, will lead to more efficient savings for you. Berley Chartered Accountants are more than happy to assist with helping to keep unnecessary investments out of sight. With careful and efficient planning, we can help your company see maximum savings.

Searching for capital

Every business, no matter the size, has to start with some capital. Whether it’s from a traditional bank loan, or the most common method of asking friends and family, there is always a way of getting the required funds to start your business. Berley has a lot of experience in arranging funds for startups, so we can assist in helping you fund yours! During an initial meeting, we ask all the necessary questions to learn more about you and a your business, which will help us to figure out a financial path that’s best for you. For more about finding capital for your startup, read our recent article ‘What is the right source of funding for you?

How can Berley Chartered Accountants help you?

As a company led by entrepreneurs, we understand the hurdles that must be overcome before seeing success. Our aim is to help other entrepreneurs with advice and guidance on how to overcome the challenges of entrepreneurship and make their business the best it can possibly be. Call us on 020 7636 9094, or use our contact form, to speak to one of our advisors who will be more than happy to help.