In the next of our occasional series offering practical advice to creatives, Tim Bellamy of Artisum accountancy firm, writes for us about looking after the financial side of your business.
Financial aptitude is not a trait we readily attribute to most creative types, and the average tax return is enough to send most of us back to the drawing board. I thought that this preference for writing books over balancing them might be utilised to set up an accountancy firm that specialised in working with the creative community in Nottingham.
Artisum (ed: see what he did there?) was founded last February after I worked with promoters Farmyard Records and Very Eventful for their yearly tax returns. I really enjoyed the work and loved getting the chance to meet lots of new people and get involved in the city’s flourishing creative sector. I decided to set up an accountancy business just for creative businesses.
Artisum’s flexible service can involve everything from acting as a virtual finance department for larger business to acting as a friendly helping hand to sole traders daunted by numbers and tax (all of us?).
I came to Nottingham to study in 1999 but, like many visitors to the city, decided to stay thanks to Nottingham’s creative scene, which I think is under-rated.
Nationally people just aren’t as aware as they should be of the diverse network of creative individuals and small businesses which are operating independently and creating work of real substance.
I’d like to see more collaboration between different sectors, artists and businesses and also a growth in confidence… with the level of talent out there people have every justification to be shouting from the rooftops about what they do.
Artisum is here to set your creativity free! We believe creativity can be hindered by worries about financial paperwork and administration. We can help with everything from self assessment support to business start ups as well as funding advice, monthly bookkeeping, payroll and VAT.