The guide covers four steps to setting up a business, starting with sourcing advice, support and mentoring. It also flags key issues to consider when preparing a robust business plan, including market research and cashflow information. The third step involves identifying appropriate funding, which could be in the form of business angels, bank-lending or non-bank lending, and how to increase the chances of obtaining investment. There are also useful tips for getting started, including the best online resources.

There is also a series of useful ‘pre-flight’ checks for small businesses, covering tax relief entitlement, cashflow, raising investment, contingency planning and business structures.

The guide was issued by the Business Policy Committee of ICAS.

The guide can be downloaded from  http://icas.org.uk/Guide-to-starting-a-business/