Help just opened a cafe and need business financial advice

QandA18

Hello, I’ve recently opened a cafe and I really need good financial business advice. As it’s early days I have lots of questions and good and wise advice for the way foreword. Any recommendations from anyone. There are so many companies out there but there’s nothing like a good recommendation. 

Many thanks in advance. 

jon81uk

You'd be better to ask on the small business board Small biz MoneySaving — MoneySavingExpert Forum

MSE_ForumTeam5

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[Deleted User]

I really think you need to see a local financial adviser, preferably in your area, they'll be useful for that local info that you'll need.
For us, on a public forum, most won't have the specifics that pertain to your business model but i agree that information sharing can, at times, give you some ideas.

I'm self employed and the one piece of info i would give anyone is  - don't be in a hurry to make a profit  for a few years.

The 1st year (at least) you'll make a loss, the 2nd (at the earliest) you'll break-even, the 3rd (at best) you'll see some profit.

Enjoy your work, like your customer base, and take it from there.

Savvy_Sue

Do you have a local chamber of commerce? Might be worth plugging into that. 

[Deleted User]

@QandA18 what are your thoughts ?

Pennywise

For financial business advice, an accountant is a good place to start - you'll almost certainly need one for year end accounts/tax returns anyway, so if you can find one that also can give business advice, you're onto a winner.

Independent financial advisors probably aren't usually the kind of person you want as most are more concerned with investments, pensions, life insurance, etc - so useful at times, but probably not when you're in the phase of starting/developing a business and you need advice on tax, business growth, setting up financial reporting systems, etc. which is mostly outside their domain.

[Deleted User]

@QandA18 .... so, are you coming back to acknowledge people's help ??