Business Start Up advice - top tips

I think my top tip would be to avoid either having credit accounts or offering to your clients credit accounts. I got into a huge mess and debt, I had 2 or 3 constant late payers, I still had to pay my suppliers on time £10k -£20k a month with next to nothing in the bank. Found myself spending to much time chasing debtors, once I insisted everyone pays at the time any work is carried out, got shot of my credit accounts with merchants, I found both cash flow and profits were up and I would never go back to credit.

I think that it's also vital to know that you're on the right side of the law, when setting up a new venture. You sometimes need to have a licence to operate or special permissions, or simply to register your company properly. All these need to be researched beforehand and you may want to use a solicitor in some more complicated cases. 

Fortunately, there are some people out there willing to help you out for free, e.g. using free legal Q&A services (like our #LegalFriday on Twitter). Don't spend too much on your legal costs upfront, and make sure you'll get the quality service. 

Keep your cash. Mention new business in conversation and every jackal wants your cash. Toughen up, ignore flattery and get armour plated anti salesman tactics

Insurance - make sure you are covered for Public Liability, thats a given but what about any employees, business interruption, business contents or equipment cover? 

Yes insurance is expensive but its a necessary evil, unless you can afford to pay out thousands in the event of a claim. Whilst Employers liability is mandatory, Public Liability isnt, but a must for any savvy person staring out