Setting up and growing an effective safe and compliant timber business

The timber industry is perhaps at higher risk than others, particularly when it comes to safety, so it is imperative that all new businesses are set up correctly right from the start. The team at the Diverse Regeneration Company has some useful advice.

SOME OF THE CRITICAL THINGS TO CONSIDER INCLUDE THE FOLLOWING

•Decide which type of business is right. Will you be a registered company, partnership or sole trader? Companies House provides information about different company structures, and an accountant can advise on what is right for you (initial consultations are often free). • Take out any necessary insurances. Depending on the nature of your work, this may include public liability, professional indemnity, employer liability and office insurance. Local brokers can help find the right insurance at the best price or use online price comparison sites if you know what you need. Insurance is essential to win contracts and protect you, your business, your clients, and the public. • Invest in training and accreditations, and research the necessary licenses and permissions for your work. These will enhance your skills and assure your clients that you can do the job legally and effectively. Set up a check list of all protocols, risk assessments, etc for each piece of work you engage in. This will mean you don’t miss things and can work safely. Professional and trade bodies are set up to help with this. • Set up effective and consistent record keeping and keep client data secure. This will save time as your business grows and data security/compliance is a legal requirement. Advice is available from local IT companies across the country. • Set up your finances properly, and have a plan to help manage cashflow, which is the single most common reason for business failure. Local bookkeepers and accountants can help and any costs are easily outweighed by the benefits. • When it comes to employing others, there a wide range of rules and requirements, and ACAS provides a comprehensive overview on this including templates for such things as drawing up contacts.

In addition to the above suggestions, your local business growth hub such as Heart of SW (for Devon and Somerset) offers sources of local experts. Across the country, local organisations such as The Diverse Regeneration Company (www.drcompany. co.uk), a not for profit, community interest company, based in Devon offer expert advice to support rural businesses.

If your business is set up correctly from the start it forms a strong foundation from which to grow and builds customer confidence, as well as helping the business win contracts and mitigate financial, reputational and safety risks.

CASE STUDY JEZ RALPH OF TIMBER STRATEGIES

Jez tells us how he got help and advice to develop his business.

I have been running Timber Strategies since 2014. It had always been a ‘self-employed’-type business run ad-hoc without much thought to systems or processes but with a feeling that things could be done better.

In 2019, with the help of a business coach, I started rebuilding the business to be able to take on larger contracts in a more professional way. Putting systems in place to manage this has been key. Some of the lessons I’ve learned include:

1Automated scheduling. Simple acts such as ongoing scheduled diary entries to keep up to date with organisations like FISA means we don’t have to remember to check.

2File-sharing. Moving to cloud-based file sharing and email means sub-contractors can have access to all the information they need including risk assessments and work packages.

3First staff. Taking on the first employee is terrifying but knowing that someone is on a paid rather than contracted basis reduces the time needed finding and briefing sub-contractors. 4 Using an accountant. Using the services of an accountant has freed up my time on other aspects of the business with the confidence of knowing everything is being done properly.

5Getting paperwork right. Having template formats for risk assessments, contracts and other necessary paperwork has given me confidence that I am taking the right, safe and legal actions.

6Insurance. Spending time sourcing insurance that I know actually and adequately covers what we do.

7Business coaching, for me, has been the most important step since the business started. I can’t recommend it strongly enough, no matter what type of business you are in. Having put all these things in place it has taken a huge burden off my mind and means I can concentrate on the trees. I see this as something that allows the business to be more innovative, more excited and more focussed on our clients.

For Jez and many businesses like Timber Strategies, taking the advice of experts to help guide you through every aspect of your business is clearly a sensible move.