Like all small business owners who are looking to save money, you may think you can't afford an accountant and therefore you take on the complex task yourself. But look at how long it would take you to do certain tasks (such as taxes) and ask yourself - is that a good use of your time?
Not only do you run the risk of making errors, but taking on the extra task takes time away from running your business.
It's easy for businesses to see an accountant as just another expense and you might be tempted into thinking that you don't need an accountant. However, from business plans to company formation, submitting accounts to personal taxation, an accountant can make life easier for you at each step and can be a key element in growing your business.
Here are just 5 of the many benefits an accountant can bring to your business:
1. They can save you time
Having an accountant can save you valuable time that you can then spend on running your business. An accountant will know all of the latest rules, laws and deadlines and will save you time in looking for the information yourself.
2. Save you money
Accountants can actually help with saving you money, as making an error, missing a deadline, filling in a form incorrectly or even not being aware of a new rule or legislation could result in a hefty fine. An accountant can also help minimise your tax bill, as they will know how your business can run in the most tax efficient way.
3. Help you grow your business
An accountant will know the ins and outs of your business as well as you do - maybe even a little bit more on the financial side of things. They can help guide and advise you on how best to run your business, resulting in potential growth.
4. Remove your worries
Many businesses find their finances daunting and this is understandable, tax is complex. Having to remember all of the important deadlines, manage your records, VAT, payroll, taxes, accounts, dealing with HMRC, the list goes on - an accountant will bring you peace of mind by taking everything off your hands, allowing you to get on with running your business.
5. Plan for the future
Finally, one of the biggest benefits of having an accountant is getting advice on how to plan for the future by planning and budgeting more effectively. An accountant will know your business, but is also able to give you an outsiders view and will be able to look at the bigger picture.
The life of a business owner can be challenging, especially when your business is being taken over by paperwork. It doesn't have to be that way. "Small opportunities are often the beginning of great achievements" - could this be your opportunity to take your business to the next level? Speak to our experts today on 01268 770099.