Five practical tips for starting a business

Launching a business is exciting! But it’s also full of decisions that can shape your future. Whether you’re a sole trader, a social enterprise, or a growing team, here are five practical tips to help you build strong foundations.

1. Use accounting software early

Don’t wait to get your finances in order. Cloud-based accounting tools like Xero make it easier to track income, expenses, and cash flow in real time. They also help you stay compliant with HMRC’s digital requirements. You don’t need to manage it all yourself, a good bookkeeper or accountant can help you set things up properly from day one.

2. Automate where you can

Automation isn’t just for big businesses. Linking your systems; from sales platforms to banking can save time and reduce errors. Tools that send invoices with built-in payment links can speed up cash collection. Look at your daily tasks and ask: what could be done faster or smarter?

3. Plan your cash flow

Profit looks good on paper, but it’s cash in the bank that keeps the lights on. Set up strong credit control, chase payments promptly, and use forecasting tools to stay ahead. Recurring payments and regular reviews can help you avoid surprises and make confident decisions.

4. Build a support network

You don’t have to do it alone. Surround yourself with people who understand your journey, whether that’s staff, mentors, or fellow business owners. Networking can lead to opportunities, advice, and encouragement, even if it doesn’t result in immediate sales.

5. Delegate strategically

Your time is valuable. Focus on what you do best and outsource the rest. It might feel cost-effective to do everything yourself, but handing off tasks to professionals can free you up to grow your business and increase revenue.

At BlueFox Accounting, we support start-ups with tailored advice, practical tools, and a values-driven approach. Whether you’re just getting started or scaling up, we’re here to help you build something that lasts.