New Business Advisory
Starting a business - our Jersey team is able to help and advise on the issues that new and existing businesses may face when considering commencing operations in Jersey.
Each client requires bespoke professional advice. This could be recommending whether to set up as a sole trader, a partnership or a limited company. We can explain the consequences of each choice and help ensure that each business has a smooth and productive start to life. In particular we can assist with:
- Raising finance - one of the problems facing each new business venture is the need for a sufficient capital base. We are able to assist with providing projections and other financial information for submission to bankers and potential investors.
- Financial planning - we can prepare business forecasts, budgets and cash flow requirements following market research. We can also assist by advising on costs for potential products and will compare budget and actual variations.
- Legal requirements - as an Island with finite resources, Jersey has introduced legislation which seeks to control new business enterprises. We can help establish company credibility with the local authorities and advise you on local laws which need to be addressed by your company.
- Taxation implications - we can assist with advice on choosing the most beneficial financial year end, considering the relative benefits of buying or leasing assets and budgeting for future tax liabilities. Further details can be found under "Tax" section.
- Employing staff - as well as regulating the start up of new businesses the Island controls the employment of staff through the issue of licences. We can meet with the regulatory authorities and establish ground rules on your behalf. We can also advise on your staff recruitment policies and their remuneration/benefit structures to encourage staff loyalty.