3 suggestions to save you a fortune on bookkeeping and company admin!

3 suggestions to save you a fortune on bookkeeping and company admin!

The easiest thing in the world is setting up a company. You want to get started - just do something. (A bit like signing up to a gym on Jan 2nd!) Go online and set up a company - then you have concrete proof you have a business, right? We've all done it - then you will feel motivated to design that website, and set up your business idea. However, far too often, time flies past and it's time to file your first Annual Return way before you have effectively nailed down what exactly is your compelling offer to the world. Never mind having communicated and tested it to a real audience. 

Setting up a company is a Catch 22. You'd like the benefits of a company ready-to-go from day one to record your set-up costs and to engage with potential clients. However, you'd like to minimise company overhead while you are actually establishing your product or service and attracting your market.  In fact, what you are probably most "passionate" about (a somewhat sickly word) is not company administration at all but your business or your project. That is the expression of your creativity, and which will bear the fruit of your business aims - your brand, your profitability, the value you will add to your loyal followers. (This is as true for a non-for-profit as a for-profit enterprise.)

Even if you have very few transactions in your first year, you will still often need a bookkeeper - and that will cost you time and money. The company administration, you start to realise, is not nearly as straightforward as it was to go online and sett up a company. That was the easy bit. 

The above scenario is one we have seen numerous times. Setting up a company is often costly and premature. Wouldn't it be ideal if you could leave that burden to someone else - a provider which can run your company for you, so that you could use a company as a member of a network rather than have the burden of running one all by yourself? Pay a simple subscription, and it's all done for you?

So here are 3 suggestions about corporate structure

1. Think about testing your concept before thinking about corporate structure

2. Avoid the mistake of establishing a company as the first thing you do 

3. Consider using a "company in the cloud" - to use a company in collaboration with others, and reduce the cost and burden of company administration. Eliminate bookkeeping; peace of mind; reduce cost; less stress. 

Welcome to Hubconsult! That's exactly the service what Hubconsult has designed for you - a service that is scaleable for you, whether you are an individual freelancer user or corporate project managers. 

Hubconsult Members use Hubconsult as their company - so they don't even need to run their own. We save them the cost and time of running a company themselves! And that means no more bookkeeping! Great for international consultants and corporate users alike!

Your membership will allow you to draft invoices in Xero - we have made this very easy with Invoice templates to indicate details of your client, your currency, and details of the work performed, as well as uploading supporting documents). We make sure all of the accounting, auditing and company admin is done for you! 

Whereas individual members can invoice for their own freelance fees, corporate members can also invoice for their business, and issue payments instructions to be made to third parties too (suppliers, beneficiaries, stakeholders etc). Corporate users have access to their own Xero Project Account. 

Whether you are an individual or corporate user, you manage your project yourself, control your invoicing yourself and instruct Hubconsult to issue payments. You are in full control of your business or project. Hubconsult's role is to ensure the smooth running of your corporate infrastructure. 

We have met many freelancers and consultants who have told us how much they spend every month on bookkeepers, and how much time they waste, not to mention how much it costs them to manage their own company year-round. So we know how much of a drain that can be...that's why we wanted to address that problem by taking advantage of economies of scale in accounting and bookkeeping. 

That will save you a lot of time and money! To see how much, see the typical cost comparison for company formation and maintenance here at hubconsult.com (comparing setting up and running a company yourself to using Hubconsult. The variance will also depend on your own corporate tax rate in your country.)

Please go to to https://hubconsult.com/. There, you will find the simple application form which will run you through a series of questions which will make it even clearer for you whether Hubconsult suits your business, and the benefits which you may enjoy.

You can apply now, or get in touch for more information using the simple messenger chat function. Of course, you can try before you buy. Free trials available, or subscribe and cancel anytime. 

Hubconsult . Your company in the cloud .