Rick I have several small pieces of advice on business
Have three accounts 1. For taxes etc 2. For business use 3. For personal use
Pay a set percentage of turnover into your taxes account each month without fail
Pay yourself first from your business account a set sum to cover bills
Don't assume profit means cash, new business suffer new business strain (ie profits go to working capital, (debtors stock etc)
Have a good debt collection process with letters that comply with court in your area. You can have terms and conditions always include interest on overdue debts and debt and court collection costs in them.
Have a credit card linked to each account that gets paid in full. Don't mix business and private.
Keep all paperwork, print off bank statements on good quality paper and staple receipts to the back.
Pay the minimum in cash.
Use an online accounts system, one you can scan docs to and attach. I always recommend quickbooks to clients but there are others. Some have an app.
Join a local or national Association for small businesses as this may give you access to legal knowledge and bank deals.
Above all keep smiling, come on in the self employed water is lovely.
WhyUs and I started a business thread but sadly there wasn't much take .
I also recommend prosperity place to my clients for the psychology of money.
Above all have fun
V
Freedom is just another word for nothing left to loose. V 64, WAW
