Accountant Could Save Start-Up

The Sage company released results from a survey that points to evidence showing how an accountant can potentially save a start-up business. The primary business challenges identified for start-ups are marketing and taxes. The primary personal challenges were identified as work/life balance and money management.

Some start-ups look at an accountant as an expense that they cannot afford, however perhaps instead the expense should be looked at as an investment.

An accountant working with a start-up entrepreneur allows the business owner to focus on ‘why’ they are starting a business. With an accountant on the team, a business owner has a ‘go-to’ person for tasks that must be done, freeing up time for some work/life balance in the midst of the chaos of starting a business. The accountant can provide your business with a level of professionalism to get your company off the ground in the best possible way. The Sage survey showed that 89% of survey participants felt that their accountant was a critical factor in their success.

Use your accountant to provide a different perspective that is outside the day-to-day operations, shedding more light on the big picture. Because accountants work with a variety of businesses, they can often help a new business adopt some best practices more quickly by sharing information they have gathered over time. A good accountant can also help develop a viable ‘road plan’ for a business. Working with an accountant helps keep you on track in terms of taxes from the beginning. They also are able to help you analyze the data from the beginning, looking towards growth and the future.

While it is always possible for a business to get off the ground without the assistance of an accountant, the data suggests that they just might be the smartest investment around.

Posted on March 4, 2014 at 10:00 AM