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Helping your family business to thrive

Family businesses are often successful because of the strength of the relationships within the team. It’s a real asset. However, that closeness can bring its challenges too. One partner may worry about the finances, whilst the other doesn’t. And if you started as a sole trader, but have later brought a family member in to help, the shift in dynamic needs careful attention.

Another key phase is when the children join in. This brings a special strength to the offering, but the shaping of new roles isn’t always easy. The new generation tends to see the innovative benefits of technology, for example, but that can sometimes  be perceived as an unnecessary expense. This is where external guidance can be invaluable.

How Essendon can help you with your personal finances

The Business Godparent

We work with many family businesses and have seen the stages they go through. It’s exciting for everyone, including us, but the dynamics bring challenges that require careful thought. We can investigate the  financial benefits of technological investment, for example, and guide the family on making the right decision for the business.

Taking Care of the Details

In every type of business the details matter, and having a trusted partner who will ensure the accounts and tax returns are compiled and filed on time makes a huge difference. We calculate tax and ensure it’s optimised to suit a business. Plus, we can also manage bookkeeping, VAT, payroll.

In a nutshell, we will:

  • Provide outsourced bookkeeping
  • Manage your payroll
  • Track and oversee your VAT
  • Prepare and file your accounts
  • Complete your tax returns and file e.g. Companies House
  • Advise on trading structure e.g. partnership or limited company
  • Operate as your financial director
  • Provide guidance and advice throughout the year

Helping your family business to thrive

Based in Milton Keynes, we work with many family businesses who need both financial guidance and a touch of mediation. We ensure there is a firm hand overseeing the finances, so you and your family can concentrate on running the business.

See your family business grow

If you’d like to find out more about how Essendon Accounts & Tax can help your family business to grow, please get in touch.

    You can give us a call

    01908 774320

     

    Or you can email us at

    enquiries@essendonaccounts.co.uk

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