How to manage your finances as a start up - Start Your Own Business podcast

You might be really skillful, knowledgeable and experienced when it comes to your trade or profession. However, if you’re new to running your own business, you might not know much about how to manage your finances as a start-up business. Unless you come from a financial background – why would you? If your new business is to survive and grow, you need to know a few basics about managing your finances as a start up. It could make a big difference. It could even prevent you from making simple mistakes that cause you big problems.

In this episode, we speak to chartered accountant Kate Gloudemans, experienced financial director and founder of accountancy firm Sprout. She offers essential tips on how to manage your finances as a start-up.

How to manage your finances as a start up – show notes

Bookkeeping and accounting

Accounting software

The best small business accounting software for small business in the UK

Working with an accountant

Cash flow management

How to create cash flow forecasts and budget – podcast episode
Essential guide to managing your cashflow

Managing your cash flow – checklist

Controlling costs

Budgeting

Related podcast episodes

About our sponsor Lightyear

Life as a business owner can be unpredictable. You need a cash flow cushion for any bumps in the road. But, this doesn’t mean you need to leave your cash languishing in low interest accounts.

Instead, you can earn a daily, variable rate of 4.6% AER with Lightyear’s business accounts. Lightyear makes this possible by giving small businesses like yours, a solution traditionally reserved for the big corporates: money market funds, managed by the world’s largest asset manager, BlackRock. These are low risk investments, usually only accessible with a minimum deposit of £5 million pounds. With Lightyear, you can access them with no minimum deposit criteria.

There are no fees to open, bank transfer into, withdraw from, or maintain your business account, and your money is always easily accessible.

You work hard for your income as a business owner. Lightyear lets your income work hard for you. So, rather than spending weeks trying to open an account with low rates and high fees, open a Lightyear business account in one day, and start putting your money to work.

Whether you choose to manage your company cash on Lightyear’s slick app, or the web platform, the interest you earn could mean you can hire that new employee, or take that holiday you know you deserve.

Visit lightyear.com/donut to find out more, or set up your account in just a few taps. And remember, when you invest, your capital is at risk.