Reasons Why Small Businesses Need an Accountant
To take your business to the next level, you need a team of passionate, trustworthy people around you who genuinely have your best interest at heart. An accountant can assist your business as it grows, helping to propel your company to new heights and minimise the risk of financial difficulty in the future.
To have come to the point where you have opened your own business and are considering the help of an accountant, it's clear that you are dedicated, strong-minded, and successful. Having a skilled, professional accountant on board, it can not only encourage you to keep your books straight, but also allow you to make savings in the long run. Without having a complete handle on your cash flow, it can be near impossible to make calculated and informed business decisions to grow your company.
Aside from helping you save money or educating you on the best ways to spend money, an accountant can also save you time - which as a business owner, is amongst the most valuable commodities you have. Is it a good use of your precious time to sit and do taxes and other daunting tasks?
A good way to determine how much an accountant could save you is by timing how long it takes you to do your own taxes and times that by how much you pay yourself (or employees) per hour, taking into consideration extra time for editing due to mistakes that an accountant would have been more likely to spot which would take them further time and thus incurring further cost.
Why Small Businesses Should Hire an Accountant
As a small business, you want to ensure you do everything within your power to make the company a success. Juggling both your personal life and business life is difficult, even for the most seasoned of business owners. Hiring an accountant that you trust and feel comfortable around can give you peace of mind that your company can grow without you personally needing to micro-manage every detail.
An accountant can assist with your cash-flow management, ensuring that you have good credit control. You need to be making enough money regularly for your business to not only survive but thrive - ensuring that you have extra to cover expenses and expand should you desire.
If you require assistance with managing your company operations. An accountant can offer good insight on improvement processes; they can be excellent business advisors with a plethora of networks to assist with other areas of your company.
As a business owner, you need to be up to date on the latest trends, technologies, and regulations. Your accountant will be up-to-date with any new policies that are coming into play and can offer expert guidance on the best way to approach these changes.
Benefits of Having an Accountant
In conclusion, by having an expert accountant on your team, you can save time and money, along with being given the resources to grow your business. An accountant can take away the stress of bookkeeping, keep you on top of your deadlines, and provide imperative financial advice.
Barnstone Accountancy
For more information about the accounting services we offer at Barnstone Accountancy, give us a call on 01572 811 497 or email enquiries@barnstoneaccountancy.co.uk.
Alternatively, to book a free 30-minute telephone consultation, please complete the contact form on our website to book a time and date that suits you.