Startups
What is a Startup?
The word startup refers to a company in the early stages of its operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is a demand in the market. These companies generally start with high costs and limited revenues, which is why they look for capital from a variety of sources such as friends, family, bootstrapping, loans, and venture capitalists. They generally focus on a single product or service and usually have less than 30 employees.
What are the different Types of Startups?
Small business startups
Small business startups have small teams, they are generally content with their size as they sell their products and services. While they are interested in growth, they grow at their own pace, which is gradual in most cases. Such startups are often bootstrapped or self-funded, meaning that there’s less pressure to scale up or be beholden to the immediate needs of investors.
Buyable Startups
The concept here is to build a business with a small team at low cost and then selling it to a larger entity. These startups are very common in Technology and Software industries.
Scalable Startups
These are based on the ‘Snowball Effect’. Once a business has a marketable idea they develop a small customer base, if it becomes popular the founders raise capital from outside investors (for e.g., angel investors, venture capitalists, business partners, friends, family, etc). With the addition of new capital, they can support growth initiatives to score more customers and eventually grab the attention of larger enterprises willing to buy them out.
Offshoot Startups
These are businesses that have branched off from larger corporations to become distinct entities. For example, an offshoot company might be established by bigger company to enter a new market or disrupt smaller competitors. These startups act independently of their parent companies and have the freedom to do business and experiment without drawing as much attention or scrutiny.
Social Startups
Some startups are specifically designed to do good in society. Social startups, which include charities and non-profit organizations, scale up for the sake of philanthropy. They operate similarly to any other startup but do so with the help of grants and donations.
Why Does a Startup Need Accounting Services?
Raising a startup from the ground up is not a simple task. It involves a plethora of problems that need to be addressed from the get-go. Just to begin with, one needs business licenses, file for incorporation, financial planning, devising policies and procedures and finally implementing systems and tracking expenses.
Once the startup is on its feet it needs continual management of bookkeeping, payroll, tax preparation, compliance with various government bodies, preparation for taxes, and financial statements.
Additionally, when growth periods come, one needs reports on pricing, cash flow, budgeting, and forecasts, along with audit support and preparation.
Lanop: Mentoring Startups to Success in London and Across the UK
Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our corporate headquarters in Putney, London provide practical and efficient solutions to all your accounting needs.
Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.
Aurangzaib Chawla
I am the Managing Partner and a Tax Specialist at Lanop. Due to my Read More
Aurangzaib Chawla
Tax Partner
I provide my expertise and services to a diverse range of clients involved in the Architecture and Construction sector, assisting them in resolving industry-specific accounting and tax issues. With the help of my extensive experience and understanding of this industry, I provide attention to detail advice that is completely specialized to your business structure needs, allowing you to worry less about your daily accounting needs and focus more on earning profits.
Zohaib Arshad
As one of Lanop's top Financial Consultants, I am a specialist in startup Read More
Zohaib Arshad
Financial Accountant
Most of my time is spent counseling limited firms on all aspects of their financial and tax circumstances as a Financial Accountant. Many corporate business owners have turned to me for help with their business formation, including any early paperwork and laws. Small business owners can benefit from my high expertise and professional advice due to my
diversified experience in a wide range of industries.
Client's Testimonial
I recently initiated a selection for an accountancy firm around Putney area. I pre-selected some of them, based on website, word of mouth, and location, and convenience to get to. Called my shortlist of 5 and arranged meetings. Some of them arranged in 1 weeks time, others in 2-3 days, others didn’t need more customers, which I found odd. Lanop and another one were only 2 that booked on same day/next day to see me. They were available on phone, email and very customer centric. I chose Lanop due to the expert advice that I received on many topics which I had initial knowledge from investigations I did online, but they explained in detail and provided a great consultative advice for my steps, explaining why, and the alternatives I had.
Tina Vilaça
Pre-Sales Solutions Consultant
Bottomline Technologies
Why should you choose us?
Digitalized Solutions
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Flexible Approach
History of Successful Startup facilitation
No Surprise Cost
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