Sadly, many business owners literally pay for poor cash flow management. Seeing Bad Debts on your Profit and Loss Account is one of the worst things our clients have to see. Effectively they have given some goods or provided a service for nothing and sometimes even at a further cost
One of the first decisions you need to make when starting your business is choosing the right entity. Do you set up as a sole trader, in partnership (if there is more than one of you) or a limited company?