Starting your own business is exciting, but challenging too. Every new business is unique but for each one, getting things up and running is certain to involve a great deal of hard work.

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But it can also be very rewarding, both personally and financially. Building a successful business – knowing what you’ve achieved through your own initiative and efforts – is one of the most satisfying things you can do.

When you’re taking such a big step, it makes sense to seek expert advice at the earliest possible stage. We’re experienced in advising start-up businesses and will start by reviewing an existing business plan, or working with you to create a plan, advising you on ways to develop and improve the viability of your enterprise.

Your business plan is a key tool in approaching your bank or other financial institutions for funding. Cash flow forecasts are important at this stage too, but also on an ongoing basis to help you make sure that you have the assets you need to take on extra business, plan further borrowing and provide an early warning of potential problems.

One of the most important choices you will make when you go into business is deciding on the best structure for you.We can advise on whether sole trader status, a partnership or limited liability partnership or a limited company is most appropriate for your business and your circumstances.

We can also advise on day-to-day business support you’ll need, such as computerised or manual bookkeeping systems. We also offer management and annual accounts services and can advise on setting up PAYE and VAT systems.

By working with you, and building a long-term relationship, we can use our knowledge of your business to identify opportunities for improvement and growth, as well as highlighting potential risks and the necessary action to prevent these becoming problems. We can also advise you on your business strategy to move forward to achieve your goals.

As your business grows, you may consider opportunities to expand that include mergers or acquisitions. We can review the accounts and trading prospects of your target business and advise on
the implications of such a transaction.

And although when you’re starting out in business, the last thing you want to think about is what happens when you want to move on or retire, succession planning is vital, or all your hard work could be for nothing. We’ll help you to identify an exit strategy that will help you to maximise your investment in your business.

Find out more about what Gareth Hughes & Co can do for you please contact us to arrange a free initial meeting.

“Running a business is a demanding task which is why Rupert Bradley, the owner of Coastal Carpets, appreciates the relaxed relationship he enjoys with the Gareth Hughes & Co team.”

Coastal Carpets

“Cambrian Photography in Colwyn Bay is a familiar name with photography professionals and enthusiasts across North Wales. The largest photographic retailer in the region, the family-run business has been looking after the needs of photographers since 1946, developing its range of services over the years to include repairs, equipment hire, framing, photo studio facilities, photography courses and commercial, portrait and wedding photograp

Cambrian Photography

“Optical Tools for Industry is a small firm with a long reach. Over three decades, the firm has built up an impressive reputation in the highly specialist field of manufacturing and designing optical test equipment and now sells its measurement and inspection solutions as far afield as China and the USA. The Ruthin, Denbighshire-based company, which was founded in 1975, was the subject of a management buy-out in 2005, which led to the start of its relationship with Gareth Hughes & Co.”

Optical Tools for Industry

“Defining dyslexia is simple – difficulty in reading, writing and spelling correctly, according to the dictionary – but it is a complex condition that is likely to have a lifelong impact on anyone that it affects. For thousands of children diagnosed with dyslexia, the innovative work of Xavier Educational Software, based in the School of Pyschology at the University of Wales, Bangor, has played an important part in their education.”

Xavier Educational Software

“Everything I want from an accountant”: that’s the verdict on Gareth Hughes & Co from Phil Arundale. Phil is the latest of several generations of his family to supply local shoppers with fruit, vegetables, fresh fish and game at the long-established Colwyn Bay business Arundales. Arundales was founded in 1887 and originally started life selling fish and game, adding fruit and vegetables some 50 years ago. Today Phil and wife Wende have branched out to offer fresh produce boxes, with a focus on seasonal availability, and a delivery service for customer orders.”

Arundale’s

“When you’re running a business, working with people you like and respect makes life much easier. That applies as much to professional advisers as to immediate colleagues. Martin Bastable, who has run Bastable Upholstery Llandudno Limited in Colwyn Bay since 2005, is no exception to that rule. He decided very quickly that Gareth Hughes was someone he could work with successfully – “within the first 30 seconds of meeting him”, he says – and several years later, that first impression has been proved right. Martin says: “He’s effortlessly professional. I couldn’t recommend him highly enough.”.”

Bastable Upholstery
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