Once your business is incorporated and becomes a limited company, you’ll need to have a ‘board of directors’ in place to provide your core leadership and run the business.
But why do you need a company board? And what are the different roles and functions that each member of the board supplies?
Leading the business from the top
Your board of directors exists to manage the future success of the business. Whether it’s hiring talent for your senior management team, defining your key business strategy or making decisions on acquisitions, your board must have the best interests of the company at heart.
Paying tax is something you’re likely to see as a necessary (but not hugely enjoyable) part of running your business. But are you doing enough to plan your own personal tax liabilities?
As a director, you’ll pay your income tax annually on a self-assessment basis. But there are plenty of ways to make this a less costly and onerous task to complete.
Planning ahead when it comes to tax
By taking a forward-looking approach to your own personal finances, and working with an experienced advisor, you can start to minimise your tax costs and maximise the value you enjoy from your own earnings and company profits.
In the online, connected world that we now live in, it’s important for your business to be digital.
Digital technology has revolutionized the options you have available as a small business, with a wealth of cloud-based solutions and apps helping to automate the admin, enhance your productivity, open up your business data and market the company online.
Making the technology work for you
Becoming a digital business isn’t about using technology for tech’s sake. It’s about seeing the huge value and potential of applying digital processes and software tools within the company.
By moving your systems, processes and customer interactions over to digital, your sma...