Thursday 21st October 2021

From the Business Godparent

Benefits of a good accountant

A great accountant will help you stay the distance.

Did you know… 20% of sole traders don’t make it to the end of their first year? And even more significantly, less than half get past the first five years; both statistics recently revealed by HMRC in their tax record study.

Now, there will be many reasons for this. However, having a great accountant supporting you from the start not only helps to prevent this happening to you, but they also make the whole journey more enjoyable. And here’s why…

You benefit from the knowledge of a dedicated expert… They’re there, at the end of the phone, when you need them. They live and breathe all things accounting and they see it as their job to ensure you are developing a thriving business.

They remove stress… You want to spend your time doing what you’re good at, not paperwork and number crunching. So when VAT deadlines or payroll loom, having a great accountant to do those for you means you can just get on with running your business without worry. Which leads us to our next point…

They free up time… Bookkeeping and accounts can take twice as long for you to do as your accountant. So delegating that work is a win/win for you and your business.

They are proactive in helping you grow… A good accountant will review your monthly figures and give you guidance on where to focus your efforts, how to avoid issues before they arise, and when to spend money and manage your tax.

And you know what? They can also make a decent cuppa if you ask nicely!

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