Last week the ICAS reported based on IFAC research..
SMEs were shown to traditionally rely on accountants as a main source of business advice. One study identified an 8.1% average increase in sales growth and a 29% decrease in likelihood of failure for businesses using an external accountant.
Also last week smallbusiness reported that 1.3 million britons want to start their own business.
So when would a business need to contact an external accountant?
- Business Plans
- Budgeting and Forecasting
- Cash Flow Management
- Buy or Rent decisions
- Capital Investment Appraisal
- Accounting Procedures and Systems
- Business Strategy
- Busines Funding and Investment
- KPI’s
For start ups its particularly important to ask your accountant to help with:
- Choosing the right business structure for your business – most businesses start out as sole traders but once they start making profits convert to limited companies, this is because sole traders pay more tax than company structures
- Choosing the…
View original post 43 more words
Business Accountant 
I like that you could increase sales by getting business advice from an accountant. I have been thinking about starting a small business, but I wasn’t sure how to start the right way. I can see how it would be smart to hire an accountant, helping me learn the correct ways to handle finances.