Do You Need an Accountant When Starting Up a Business?Posted by Doshi Accountants on September 29th, 2021 Starting a new business is definitely not child’s play even after you’ve completed with most of the red tape. Most businesses start out on limited capital and thus, for the initial phase, cost cutting is high on almost every business owner’s priority list. Even if cash is not part of the crunch, efficient use of funds would ensure that you can stretch the funds that you already possess. Due to this mindset and goal prioritisation, most business owners start out handling the business accounting side themselves. Though this isn’t a bad idea if you are good with the books, however, being a financial element, it is better here to err on the side of caution. After all, an accountant would bring much more to the table than merely good calculation skills; experience and sound advice too are factors worth considering. How accounting for start-ups differ When a business is already established it is easier to take the reins and lead on. It is at the initial phase that the most crucial decisions are made and hence, these are the ones that can be the make and break ones in the long run. At this stage, having a good accountancy firm, like Doshi Accountants (one of the top 100 UK accountancy firms) would assist as your accountant can work with you on elements like:
Consistency – the key to smooth running When business operations take on the regular mode, accounting services help in making things run all the more smoother and hassle free. The hassle-free element kicks in with the fact that you need not slum over the books regularly if you have someone appointed to do this for you. Besides, updating the books needs to be done regularly for it to be really effective as otherwise things do not work out. Your accountant at this stage proves invaluable in:
If you have any questions with starting a business or general queries about accounting, taxation, VAT or payroll, feel free to contact Doshi Accountants with them. We have a team of dedicated and trained professionals who are passionate about accounts and there to assist you. Like it? Share it!More by this author |