06/03/2012 Financing your business- Liz Wallens

catrin finch- 3pm

I found this lecture to be the most important so far. Whilst it was not the most exciting and engaging the hard facts surrounding the finance side of business was something i needed to know. From the wrexham council (tel-01978667000) Liz went through the basics of where to go and what to do when you finnish education and move into self employment.

List of things to do/ be aware of-

Register as a sole trader when leaving university- HMRC
Look into available grants/ bursaries- Graduate bursary up to £6000 to start your freelance business in wales. This i was told was completely different to England where this is not available. (definately something to consider) Linited- rural development grant, Launch 18-30.
Build up a good credit rating with your bank- more likelyhood of loaning you money.
Get a business bank account and keep finances separate- for tax purposes
can attend 7 business lectures- free in wrexham (industrial estate) could help a lot.
Registering after april 6th means the tax returns wont be due until 31st jan 2014- this could help in getting started with minimal outgoings.

Overall i took a lot from this lecture, including a pack which i will copy for my file regarding financing a business from scratch. I will definately look into persuing these courses following my departure from university.


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