08 Jun Starting your new business? It’s never too early to find an accountant
When starting a business, many entrepreneurs envisage outsourced accountancy as something to think about later down the line. They think this for a number of reasons; whether it’s the perception that small business accountancy is easy enough that they don’t need help, or that they simply can’t afford to outsource it, it’s a common misconception.
The truth of the matter is, however, that it’s never too early to invest in an outsourced accountancy service. So let’s explain why those two common reasons shouldn’t stop you.
Is small business accountancy easy?
No. Far from it. Many business owners think that while their business is still small and growing that they can handle everything themselves. They fail to take into account the potential complexity of managing divergent income streams, taxation, budgeting, and eventual payroll services. These can all be time-consuming and complex tasks, especially when you’re already spread thin trying to run a busy new business. This is where the services of an outsourced accountant experienced in start-up accounting can be invaluable in helping you keep on top of things.
Can you afford the services of an accountant?
Yes. Accountancy services are scalable and tailored to your requirements. As a new business, your needs will be such that your accountant will not charge anything like you might think they will. As your business begins to grow and your financial situation becomes more complex, the charges may grow with them. But the important thing to remember is that it will always remain a consistent percentage of your overall cash flow, which means it will always be affordable. This is why even newly started businesses can and should invest in professional accountancy services.
Is it a worthwhile investment for a new business?
Absolutely. The services of a professional accountant can help lay the foundations of your business finances to give you the smoothest possible path to growth. They can also ensure you’re never at risk of running into issues surrounding complicated financial propositions, such as taxation. They can even help you with ongoing budgeting. That’s why investing in the services of a dedicated start-up accounting service like SQK Accountancy makes so much sense.