At What Point Should You Hire a Professional Small Business Accountant?

There are many reasons to hire a professional accountant and this could be at any stage of your company’s growth, however we would always advise the sooner the better – particularly if this is your first time.

Many people like the idea of handling their own bookkeeping and enjoy the thought of the challenge, which is commendable, though it’s not always practical. You can only do your own accounts for so long until you begin to struggle with your time management. There’s no good juggling your time and not being able to find the right balance for the sake of your pride, when instead you can simply hire a professional small business accountant to handle all of that mumbo jumbo on your behalf, thus freeing you up to focus on other areas.

In this post we’re going to explore some reasons why you might need to hire an accountant and why:

documentWhen Writing a Business Plan

You can certainly write a business plan yourself, though you could also hire a professional who has written a thousand before and can offer you some insider advice that could really benefit you in the early stages of your businesses development. Accepting help in the early stages can be crucial for helping you to succeed and thrive in the future.

Understanding Your Company’s Legal Structure and That of Your Industry

There are so many moving parts when setting up a business and understand every legality can be an absolute minefield. A small business accountant however, will be able to advise you accordingly and make sure that you do absolutely everything by the book so as not to shoot yourself in the foot or risk your company’s reputation before you’ve even began to pick up all that much pace.

Because You’re Not All That Great with Numbers

Accountants become accountants because they’re great with numbers and they enjoy the work. That’s not to say that absolutely everyone in the world should be excellent mathematicians, otherwise you’d have probably gone down a similar path. If you aren’t all that strong with your finances, then rather than struggle through it and spend even longer going over the books than you need to – why not hire the professionals? There’s no shame in it whatsoever, and you’ll feel as though a great weight has been lifted once you’re able to focus your time on other areas of your business, yourself and your family.

accountantYou’re Still in Control

Understand that hiring an accountant or firm to help you with your business isn’t handing over control. You are still very much the boss, only in order to succeed you’ll need to learn how and when to delegate work. Finding those that you can trust with tasks that are unnecessary for you to be taking care of is essential. And, any reputable accountant worth their weight will treat you as a business partner, looking for new and innovative ways to make your money work for you, spotting things that you might otherwise mix. Take advantage of all the help that you can get, you’ll thank yourself in the long run!