Business structure
Many young businesses come to us and seek help to structure their business to enable future growth, tax efficiency and to take exit strategies into consideration.
As a new company it may be hard to foresee what will happen in the future but with Metric’s experience, we can share – and help you avoid – the common issues.
We recognise that, for most small companies it is generally best to keep the structure as simple as possible, but we can ensure that you don’t make a misstep at this early stage that will cause problems with prospective investors in the near future.
(Once common example that we see is start-ups failing to comply with the rules regarding venture tax reliefs – such as SEIS, EIS and VCT – which may jeopardise a potential future investment.)
Early stage equity investment
Many seed businesses contacting Metric need advice and support with a planned equity raise.
Taking investment – whether its from “friends and family” or from “outsiders” is a huge step. We understand that with the cash comes increased scrutiny and pressure to deliver. The importance of keeping your investors on your side is paramount.
Founders may be familiar with schemes such as SEIS or EIS but need some detailed, expert advice to understand how this applies to their company and their potential investors’ eligibility. Often, one of the first tasks for Metric is to help founders obtain an advance assurance from HMRC to provide much-needed comfort to investors that the business is eligible for either SEIS and/or EIS. As these tax schemes can be fairly complex it is wise to seek expert advice before using these schemes.
Many of Metric Accountants’ SEED companies have raised investment through both the SEIS and EIS schemes (read more about SEIS and EIS) and are planning for a VC investment round in the future.
Developing strong and efficient financial processes
If you don’t enjoy finance and would rather spend time on your core project, don’t worry. Most founders think the same. Just because you have a good business idea doesn’t necessarily mean that you have to like working with the finance aspects of your business.
If you haven’t as yet outsourced most of your daily finance tasks, you should consider this as step one. The time you spend preparing bookkeeping and filings to HMRC could be spent on other, more customer-focussed tasks.
Most start-ups cannot justify the expense of a CFO or FD. Metric helps to fill the vacuum that this creates by providing the information that you would typically seek from your in-house finance team. This helps founders to make better informed decisions. Don’t rely on faith when running your business, make intelligent decisions based on facts!
Great firm. With been with them for over 3 years now, since the day we created the Company. Throughout they’ve been amazing.
I approached Metric to help us set up our first business. As a start-up it’s difficult to know what to do, where to go and who to trust. Years later, we are still using Metric and class them as an integral part of our business. They are a trusted adviser and I would highly recommend their services.
Metric Accountants has been supporting the Company for the past few years. The team is very competent and understands the requirements of a tech business well. They will take all the SEIS/EIS/VAT/R&D/accounts issues off your mind so that you can focus on running your own business. They are also just lovely people to work with. I could not recommend more.
Excellent, helpful, friendly and professional with competitive fees. Would highly recommend!
Metric are fabulous business partners. They are a true extension of the team. Beyond a great service, they are true advisors.
Metric Accountants have supported us from the founding of our company, helping us through several years of growth. They’re always available at the end of the phone and represent really excellent value for money. Choosing Metric was one of the best decisions I made!