Get the support you need
You don’t need to go it alone. While you may be working on your own, there are a number of services that will help your private practice run more smoothly and give you more time to do what you do best.
Think of the following as friends of your private practice...
A bookkeeper will help you keep records of your sales and purchases. They will also be a second pair of eyes, noticing discrepancies in your records early. However, many private practitioners, especially sole traders, choose to do their own bookkeeping, or find practice management software that will automate the process.
Many new private practitioners are unsure about the need for an accountant, particularly if their turnover is low. However, a good accountant can take much of the financial burden off your shoulders.
Okay, they may not be your friend, but you should strongly consider getting a business bank account. It will make accounting so much easier.
The right software will be a great help to your therapy business. Choices range from the humble spreadsheet to practice management software that can benefit every part of your business. We talk about software in our articles on computers and cloud computing.
While many of us think of HMRC as the enemy, they can in fact be a great help to new businesses. You’ll find a wealth of information on the HMRC website, and your local tax office is always there to give you advice.
There are lots of organisations that can help new businesses. For example, the Institute of Directors provides advice for limited companies. And area-specific organisations, such as BRAVE in Bristol, help start-ups take their first steps.