Accountants do tax and compliance work – we all know that. But the best ones do so much more. They’re excellent trouble-shooters and strategic advisors for small to medium businesses. Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue.
5 things you didn’t know accountants could do
Launch your start-up:
Starting a new business can be exhilarating, but it takes more than one good idea. You need to know it will make money. You also need to convince investors and lenders of the same thing.
Help with businesses plan of action:
Sometimes it’s hard to know where to focus. Accountants can help you figure out what’s important. They’ll work with you to set goals – personal, professional and financial – then give you tools to measure your progress and outcomes. You’ll end up with a set of key performance indicators (KPIs) that tell you how your business is doing and keep you up to date.
Deal with unpaid invoices:
Unpaid invoices are a fact of business. Chasing those debtors is a distraction you don’t need, but you can’t afford to ignore the problem. Your accountant can take the headache away. They can set up invoice systems that send automatic reminders to your customers.
Fix your cash flow:
Accountants know that revenue ebbs and flows, and that costs do the same. They’ll help you predict the effect on cash flow and come up with strategies to manage the situation. They’ll organise cash reserves and come up with a spending plan that ensures there’s always money in the bank.
Listen and support:
Being in business is tough. It can be lonely, too. When things seem too hard, and you start thinking about the cosy 9 to 5 you left behind, a top accountant can keep your head in the game.
What Carrington Blake Accountancy can do for you
Carrington Blake Accountancy works with start-up companies that need financial care. We help businesses separate their personal finances and their business finances to fix their cash flow.
Contact us today on 0207 537 6628 and we can help you with your new business.