We understand that managing a small business involves juggling numerous responsibilities, and you can’t handle everything alone whilst focusing on growth. Financial management of your business is a full-time job by itself, and neglecting this can quickly lead to a loss of control over your finances.
Many small business owners delay hiring an accountant, but doing so early on can be beneficial. The initial stages of a business are critical, and undetected accounting or bookkeeping errors during this time can severely impact your venture.
Investing in a good small business accountant is crucial for financial health both now and in the future. While every business has unique needs, here are some questions for you to ask yourself that might indicate it’s time for you to hire an accountant and focus on what you do best.
Accounting can be tricky, and even small mistakes can add up if they’re not caught in time. If you’ve dealt with accounting errors before, you know how much of a pain it can be to fix them. Plus, you’ll want to avoid a late tax return fine or making errors that can cost you. If keeping accurate records feels overwhelming, it might be the perfect time to invest in a professional accountant who can help keep your business on the right track.
Running a business is very time-consuming, with so many things requiring your attention at once and finding time to manage your finances on top of everything else can be really tough. But keeping your books in order is essential for accurate tax returns, credit applications, and planning for the future. If you’re struggling to find the time, hiring a small business accountant can make a big difference and allow you to focus on other important tasks.
DIY always seems like the best option – we’ve all been there! But you might have reached a point where you feel as though you’ve been winging it with your business accounting and you would prefer to start making purposeful decisions. Choosing an accountant ensures your accounting worries can be dealt with much faster, and smoother, without the extra stress.
Business growth is a big indicator that managing everything alone isn’t sustainable. With growth comes a flurry of new customers, hires, investment opportunities, and increased demands on your time. An experienced small business accountant can help manage cash flow, select investors wisely, and utilise your increased income effectively. They can also address new financial challenges that arise with growth, helping maintain your business’s financial stability.
If you answered yes to any of the above, it might be time to give us a call! Our team of professional accountants in Bedford are here to provide you with our expertise and help you with the financial health of your business. Contact us by phone or by email and find out what we can do for you.