When to Hire an Accountant for your New Business
Posted 11 Aug 15
Creating a great and unique idea for business can be a start of a thrilling and challenging experience.
The moment you decide to turn theory into practice, time speeds up and the amount of responsibilities and new information you need to keep up increase very quickly.
When you are extremely ambitious, you might set yourself too big of goals and too little time to reach them. And if you decide to start your very first business, it can turn out to be almost impossible when you are the only person involved.
It is easy to make various mistakes when starting your first company which result in large financial losses that you simply cannot afford. Unfortunately, the idea itself, no matter how original and revolutionary it is, doesn’t pay the bills and in order to monetise it, you will have to understand how your business will work financially.
As a company owner you will be responsible for managing your company, marketising your products and services, and providing your clients with superior customer service.
Employing staff comes with a number of different issues which can be both mentally and financially overwhelming. A lot of first time company owners find it off-putting when realisation of their dream turns out to be stressful and complicated.
Constantly under pressure, they start spending money before they are able to work out how they’ll earn it back and this can be deadly for any business that hasn’t had time to stabilise itself yet. A lot of company owners make a mistake of hiring an accountant when their business is already sinking and at this point what can be saved is incomparably less than if they made this decision earlier.
The importance of a quality, professional advice is often underestimated by first-time entrepreneurs and as experts with great experience in accounting we advice our new clients to always hire an accountant as soon as they make a decision of registering their company with HMRC.
As a superior and highly professional company, Tawanda Accountants can help you decide on the business structure that will perfectly respond to your and your clients’ needs; find access to the right funding which will enable you to develop your business in a planned direction; make sure you do not get overwhelmed by the paperwork which comes with managing every business.
We will make sure you always make enough money to cover your expenses and that you are never behind with your payments, taxes and bookkeeping.
Prevention is always better than cure. If you allow us to help you with your business at its starting phase, we will be able to plan the perfect financial system for you and make sure you avoid any mistakes that can put you in a financially unstable position.
Hiring an accountant before you make any other important decisions is like creating a fundaments for a house before you decide to build it. If you would like to know more about our service and how we can help you make the most out of the amazing experience that is running your own company, contact our experts at Tawanda Accountants today.