If your business is at a stage where you’re looking to expand, then you’re most likely trying to be as lean as possible when it comes to expenses. However, while you can reduce overheads, make more efficient marketing choices or opt for automation as an alternative to some tasks, when it comes to professional finance support, it’s definitely not a good idea to scrimp on your company’s accounting. There are many ways in which an accountant can help business grow whatever stage the company is at – some of which may surprise you.
If you work with an accountant as soon as you set up your business then you can get into good habits which will put you on a firm financial footing. From tax planning, to business structuring, if your accountant has been there from the start they can help to steer your business and enable you to create firm financial foundations from which to thrive.
Cash flow forecasting
This is easy when you know how and crucial to business growth. However, not everyone finds cash flow forecasting that simple to get to grips with. This is an area where an accountant can really help a business grow, whether that’s providing the insight to better understand cash flow forecasting or the experience to highlight the issues and opportunities before they arise.
Moving on to the next stage
If you’ve started up and you’re looking to move to the next stage then working with an accountant to help the business grow is crucial. Professional support can provide assistance and advice on everything from payroll and payments set up & processes, through to changes in tax status and planning. Unless you’re a certified, experienced expert in all these areas, getting a professional to assist you will make things a lot simpler and hassle-free.
Accountants provide business help across any area related to finance and this includes when you’re trying to raise funds. You might be trying to find an investor and looking for connections, preparing forecasting documents or making loan applications. The expertise and experience an accountant offers can help to give you a head start on the competition and ensure all your numbers are solid when you come to be questioned about them.
The help that an accountant can provide to a business extends way beyond tax planning and ensuring the books are correct. As your business grows, working with an accountant to ensure tax efficiency, cash flow optimisation and even making decisions about the financial viability of expansion or merger can be exactly the support that you need to move onward and upward.