When should a small business hire an accountant?

When should a small business hire an accountant?

United Kingdom

When is the right time to hire an accountant for your small business?

A business accountant can help at various stages during the growth of your business, handling a lot more than just your payroll and tax returns. With any small business, it’s hard to know what expenses are worth it and what you can manage in-house - and accounting falls under this umbrella. So, when should you consider hiring an accountant for your small business?

There are good reasons for hiring an accountant at different stages of your company's growth. From a business plan to company formation, loan application to a tax investigation, an accountant can make life easier for you at each step.

How does a small business owner choose between doing their accounts themselves or hiring someone else to do them?

The fact of the matter is, doing your company accounts can be a daunting task for many small business owners. You’re probably a busy person, so it may be a task that’s going to really stress you out.

Therefore, the best place to start when deciding whether or not you need an accountant is to assess the nature of your business and your role within it. Small business accounting can often become complex if you do it on your own. When this happens you can start to lose control of who owes you money and how much. An accountant can help you get back on track.

Business Accountants can help you throughout basically every step of your company's development.
This doesn't mean you absolutely have to hire one, but the right accountant could make life easier for you, so you can concentrate on what you love doing - which likely to be is why you started your business in the first place...

Your job should be running your business, and leaving the financial details to an accountant let you do just this. An additional tip is to keep your accounts in order, and not let things build up.

If you're seeking a business accountant in Manchester, contact Pomegranate Consulting - https://www.pomegranateconsulting.co.uk/

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