17 Nov What should you know about outsourcing accountancy as a start-up?
There are many important elements of business development to consider as a start-up, but one that few are able to maximise their potential with is accounting and bookkeeping.
Many small business owners and entrepreneurs feel they either have control of their finances when they don’t, or that outsourced professional accounting services are beyond them.
What do you need to know about investing in outsourced accountancy as a start-up business?
Why should you do it?
There are many benefits to be enjoyed from dedicated financial assistance. Firstly a financial professional can help you organise your finances to keep your cash flow consistent and easily managed and to ensure that you’re primed for growth. Many dedicated accountancy professionals will offer a comprehensive small business start-up support plan tailored to you. That means your business will get the help it needs to ensure consistent growth, and that said growth is as smooth as possible.
This help can be invaluable as you become more successful and need to consider things such as a higher volume of sales, the possibility of becoming VAT registered, handling payroll when employing new staff, and your tax obligations.
Financial mistakes can be costly, and while there’s nothing wrong with not knowing something, as a business owner ignorance is no excuse – professional financial help can help keep your business clear of penalties, fines, and extra charges. As you handle more complex matters such as taxation and payroll, the potential for errors becomes greater without professional help.
Who should you choose?
So outsourcing to a professional accountant is a good idea – but who should you actually choose to help you?
You need to choose an accountant that has clear experience in the realm of start-up accounting, as they will be able to give you the assistance that you truly need in order to maximise your business potential. Make sure when choosing an accountancy firm that they show understanding of the challenges faced by small businesses and that they have an approachable and scalable pricing plan.
SQK Accountancy can offer you the level of dedicated start-up accountancy support that you need – contact us to learn more today. We’re small business accountants based in Manchester.