“If you fail to plan then plan to fail”. A well-known phrase that everyone in business should have hanging in a prominent place as a reminder that operating a business carries risk as well as reward.

Nobody takes that brave leap into being self employed thinking their business will fail within the first two years. However, many start ups find themselves in difficulties within this time frame, generally as a direct result of a failure to plan. I appreciate I will not win many friends by saying this but the business acumen in this Country is poor and the general knowledge required absent. If I had a pound for every time a director referred to the assets of a limited company as his assets when they are actually company property.Continue reading