You’ve just set up a business, but are you aware of the factors that might deter its growth? If yes, then you should also know the person who can help you through it. No one better than an accountant can help you in this situation. Starting from your business plan to company formation, loan application to tax audit, only an accountant can work towards it and make your life easier.
For a better understanding, we’ve listed the right time for you to hire an accountant for your business.
1. When you need advice while writing down your business plan
At the time of thinking about your business plan, getting an advice from an accountant will help you create a business plan that looks more realistic and professional. This is because the accountant will be able to add the financial projections and certain business reports to help you plan the business better. Hiring a professional from the beginning will serve you better, then hiring one at a later stage.
2. When you’re required to set up your company’s legal structure
The legal structure of every business is not the same. It is decided upon certain factors that you might not be well aware of, but probably an accountant would be. The legal structure of a business varies from country to country. Some could be called ‘limited companies’, others might be known as ‘sole traders or proprietors.’
It’s important to consider each type carefully before you decided which one to go with. Only an accountant can help you out here and help you choose the one that’ll best suit you.
3. When you need help with the finances
While you’re managing your own business, it becomes difficult to keep a track of ‘who owes you money? and how much?’, and ‘how much do you have to repay?’ An accountant is the right one you would want for your business. He/she will be able to do the job for you without any errors. This helps you keep a track of how your business is growing.
4. When you’re ready to delegate
Small business owners like to have control over everything. But, this leaves you overworked and stressed. This also stops you from delegating. You’ve to try and trust someone with their capabilities to do the job for you. Just remember there’re certain places when you will have to let go and look after the rest that needs your attention more.Tags : company formation, create a business plan, hire an accountant for your business., hiring an accountant for personal finances, how to find an accountant for small business, legal structure of a business, managing your own business, set up a business, tax audit,