Why do I need an Accountant?

Taking the time to get the right accountant can be extremely worthwhile, their experience of working with thousands of clients running different businesses can prove to be invaluable to your business.

Here we explore the everyday stages of business and how a good accountant can lead and support you on your business journey:-


The All-in Important Tax Savings

Tax law is complicated and it’s not surprising how many small businesses are unaware of their rightful entitlement. The rules are continually changing and there have been more revisions than ever, following on from the election of the Conservatives.

A good accountant will make sure that your business is structured correctly and that you claim all allowable expenses and tax free benefits that you are eligible for. It’s an accountant’s speciality to ensure that you only pay the tax that you are legally obliged.


When there are Decisions to be Made

A good accountant will have the expertise in all stages of a growing business to inject valid contribution to your business’s development. As a small business, you should see your accountant as your CFO, and discuss your plans and any decisions that the business has to take before jumping ahead.

An accountant can only really help if you keep them involved, this is every good accountant’s wish, to be included at all stages. If allowed, this is where they really add true value with their business knowledge and expertise.

They can obviously see from your books how well business is doing, but if this is only once a year at year-end, it’s too late. So if your business is suffering or thriving, remember to communicate with them, you will reap the benefits.


Planning for Growth

When you decide it’s time to expand, your accountant is best at working out how to maximise your business’s growth. By having a studious understanding of your finances and the workings of the business, your accountant can put together a business plan that includes all the necessary management information, including budgets, cashflow, profit forecasts and KPIs.

Good management information can have a significant positive impact on businesses of all sizes. In many cases, it is even more important for smaller businesses that are looking to grow and become more profitable.


Saving Time and Stress Busting

Time is certainly the commodity of the moment, freeing up your time whether considering business decisions or keeping on top of your accounts is certainly a way an accountant can offer support.

Unless you are an expert with figures, tax law and bookkeeping, your time and money, is much likely better spent running your business. Most people by nature will struggle and try to do things on their own but by focusing on what you are good at, you will run your business with greater efficiency which will also save you money.

Don’t forget also, your accountancy fees are a tax deductible expense.


Raising Funds

Whether you are just starting out and trying to raise funds to get off the ground or your business is established and you need to raise finance to take your business to the next step, getting quality advice from an accountant who can also offer business advice is highly recommended.

Business funding is a large part of their role, being well connected, knowing all the options and government funded opportunities available to small businesses, they will ensure that you have the best possibility for success.


Reap the Benefits

Investing in a good accountant each year end may lower your tax bill and for many of our clients, we are active business advisors playing a key role within their business by bringing a fresh perspective.

We often find that with small business owners, our advice helps them increase their business and saves them money. If there’s any message that we would want to give to small business owners, it’s communicate, communicate and communicate with your accountant. You will reap the benefits if you do.


Remember, not all accounting firms can offer strong business advice, we are small business accountants and business advisors and offer a full range of services. If you would like to find out more about us, please call us on 01253 899989 or you can book a free consultation.

Comments are closed.


Thank You

Your Information has been submitted successfully.