One of the cornerstones of a successful business is accurate, actionable data. Forewarned is forearmed, and this is no less true for businesses, whatever the industry. A business that makes data collection a habit is more flexible, more resilient, and more likely to seize growth opportunities. Management accounting is one method that can help collate important data, one that can ensure your business has the information it needs to properly plan for the future.

A successful company requires a solid foundation. When establishing a new company, the first step you’ll need to take is creating a structure. Company structure will influence a wide range of factors in your fledgling company, from expenses to avenues of growth. When choosing a structure for your company, you have a fair few options available, though the decision often boils down to the two most common options – sole trader vs limited company.