As part of Plunkett’s training programme and hosted by the fantastic pub group at the Exelby Green Dragon, we delivered a session called “10 Things We Wish We’d Known Before We Started”.
This was aimed at early stage community pub groups as tips from those that have gone the distance to being open and trading, as well as sage advice from Plunkett’s network of specialist business advisers.
Diane Cameron, Plunkett’s Project Support Officer highlights their nuggets of wisdom:
1. The boring things are REALLY important
Paying VAT and reclaiming it, budgeting for employers’ National Insurance, licenses, planning permissions and registering with HMRC to file tax returns are all really important things. Plunkett business advisers can help guide you through thinking about and doing these things, while Plunkett community business members can access negotiated deals with our trusted third party providers. Find out more about membership here: Become a member – Plunkett Foundation.
2. Engage your community and keep doing it
You need to think about the future and succession planning for your committee as no-one wants to do it forever and people will want to take a step back, so you’ll need willing replacements. Keep engaging with and communicating with your member shareholders and the wider community so they are actively involved and much more likely to step up when needed. Communication needs to be forever!
3. Everything takes a lot longer than you think it will
A big committee takes longer to make decisions, and everyone is a volunteer so can only devote so much time and effort. Communication and collaboration and research take time and are really important, so must be done. Opening a bank account can take weeks and registering legally with the FCA can take up to a month. Use Plunkett’s model rules and registration service which are pre-approved by the FCA (member and non-member charges apply) and our free resources for communications planning.