Janine GriffithsFor many new entrepreneurs in East Leeds, the bookkeeping and financial side of running a business can be one of the biggest hurdles to success.
With new digital tax reporting rules on the way through the government’s Making Tax Digital programme (MTD), understanding business finances is becoming even more important.
From April 2026, self employed people and landlords earning more than £50,000 a year will be required to keep digital records and submit quarterly updates to HMRC using compatible software. The changes will extend to those earning more than £30,000 from April 2027, with the threshold expected to fall further in later years.
Against this backdrop, a pair of free finance workshops in East Leeds aimed to help small business owners build confidence in managing their finances, particularly those who describe themselves as “spreadsheet-phobic”.
Getting Going and Growing Workshops Finance
The Getting Going and Growing Finance sessions were delivered by Trust Leeds for people who had taken part in its free 12-week Build Your Own Business (BYOB) programme. The programme offers practical guidance on managing income, expenses and the financial side of running a small business.
The workshops focused on practical ways to handle business finances and develop better systems for managing income, expenses and record keeping.
The first session was held on Monday February 24, followed by a “Growing Finance” session on Tuesday March 3. Both were designed to support entrepreneurs at different stages of their business journey and to help them build confidence around financial planning and reporting.
The sessions were designed as practical, hands-on workshops rather than formal classroom training. Participants worked alongside advisers from Trust Leeds and other business support specialists to take a closer look at the financial foundations of their businesses.
Across the two days, entrepreneurs were encouraged to test whether their ideas were financially viable and to examine the numbers behind their products or services. This included looking at pricing, costs, budgeting and financial forecasting, areas that many small business owners admit they often put off dealing with.
Attendees also had the chance to receive one-to-one mentoring sessions focused on their own business plans. These sessions gave participants an opportunity to review their financial assumptions and discuss potential barriers to growth.
The workshops culminated in a short business pitch exercise, where participants presented their ideas to a panel of advisers and fellow entrepreneurs. The aim was to help business owners demonstrate that their ventures were financially viable and, for some, to explore whether they might be ready to borrow responsibly in order to grow.
According to organisers, the workshops were designed with so-called “kitchen table entrepreneurs” in mind. These are small scale business owners, freelancers and sole traders who often work from home and may struggle to access mainstream finance or tailored business advice.
Many in this group face additional barriers, including low confidence with financial planning, limited access to affordable loans and the challenge of turning a hobby or side project into a sustainable business.
By focusing on the numbers behind the idea, the sessions aimed to give participants the confidence to understand their finances, make realistic plans and take the next steps in developing their businesses.
Don’t Miss Out
However, these sessions are only the beginning for entrepreneurs in East Leeds. For those that have missed out on the previous sessions that helped entrepreneurs to get started with their business, the good news is that a new free course is starting up for business owners next week. The Be Your Own Boss (BYOB) 11 course begins on March 11th and will take participants through the basics of how to set up your own enterprise and make it a success.
Members also benefit from being part of the Be Your Own Boss Network which includes access to additional free marketing and finance classes after the free 12-week BYOB course has concluded.
Sign up by clicking on the link below:
https://www.eventbrite.co.uk/e/be-your-own-boss-11-tickets-1982272703016?aff=oddtdtcreator
You can also find out more by emailing: liza@trustleeds.org.uk or calling 07482 874 595.
