Startups are exciting but often chaotic—especially when it comes to finance. Here are some common mistakes and how to steer clear:
- Mixing business and personal accounts: Always keep them separate.
- Poor record-keeping: Use software to track income and expenses from day one.
- Ignoring tax deadlines: Know your VAT, PAYE, and Corporation Tax due dates.
- Not budgeting for taxes: Set aside money each month to avoid surprises.
- DIY accounting: Unless you’re trained, get professional help.
A good accountant can help you avoid costly errors and set up smart financial habits early in your business journey.
