5 reasons to hire an accountant
Having an accountant on the books brings key advantages to small businesses
Throughout your business’ lifespan, you will need to work with an accountant several times to ensure your business is secure and successful. In the startup phase it is most critical, ensuring that no errors will haunt you in the long term, setting a successful business back.
Tax Deadlines
An accountant can help ensure that you don’t lose time or money meeting deadlines for tax or other payments. This can be done by communication on an ad hoc basis but it is more effective when done with an accountant on a full-time basis, ensuring that they can inform you and complete work well in advance of deadlines.
Acquisition
When acquiring businesses, discussing it with an accountant is a must. Business acquisitions are the biggest negotiations that you will deal with in business and are critical moments in the development of your business, so making the right decision is important. An accountant can help you and provide vital information before you make your decision, ensuring that you have all the facts you need to make an informed decision and avoid a nasty surprise after the paperwork is signed.
Business Planning Including Legal Structure
Right from the start, advice from an accountant proves invaluable. An accountant provides an acid test to ensure your figures and projections hold up. Hiring an accountant early means that you won’t have to adjust figures later in the development process. For first time entrepreneurs, an accountant also helps to bring experience that could prove vital, guiding you through the process and ensuring you don’t make mistakes that others have in the past.
Delegation
There will come a time when you have to delegate tasks to your team or to contractors to allow you to focus on the expansion of the business. As the staff begins to expand, investing in a full-time accountant should be prioritised to ensure that all finances are in order and nothing is missed. An error can set you back significantly, meaning that an extra set of eyes and relying on someone with experience is a beneficial move for your business.
Growth
There is perhaps no more exciting times than when your business is growing. Everyone is walking a little taller and motivation is high with new opportunities seemingly every day. However, new opportunities bring new risks. As your business evolves, a full time accountant can help you to identify areas of efficiency and ways to maximise profits. Keep the good feeling of the business growth going but it will eventually and inevitably bring changes to your offices. An accountant can help you identify the best changes to make and ensure that your success continues into the future.
Every day is important to the future of your business and ensuring that you continue to grow and develop. Working with Morgan Reach means working with a trusted team who can keep you up-to-date with finances, compliant to regulations as well as deadlines and offering advice where needed, bringing experience and offering guidance to avoid issues that similar businesses have struggled with in the past.
We work closely with clients to ensure we understand their business and what makes you unique. To find out more about what we can do for you, get in touch by calling 0121 236 0777 or emailing info@mrganreach.com.
5 reasons to hire an accountant
