Hiring an accountant for your business can be beneficial in more ways than you think. Aside from the assistance with tax returns, bookkeeping or payroll, they can also offer high levels of support and honest business advice. Most companies know that hiring an accountant will likely be needed to assist with the positive growth of their business, but is there a right time to hire an accountant?
Are you running out of time?
One of the clearer signs that it may be time to start seeking an accountant is when your workload is becoming increasingly hectic and you are running out of time to do valuable jobs for your business. Peace of mind is ever important when you are in control of your company, so if you find yourself working additional hours in the mornings, evenings or even over the weekends, it may be time to import some support. With this assistance, you will be able to focus your mind back onto the valuable jobs that will keep your customers satisfied and business rising.
Are you expanding your business?
You may find that you reach a certain point or limit with your business and wish to expand upon the services you offer, increase the number of your team or move to a new, larger location. Factors such as these will always be positive and exiting steps for you to take, but you may need guidance on the new regulations and tax laws which you may be eligible to participate in after expanding. An accountant will be able to advise you on the simplest yet most effective ways of moving your business overseas whilst staying in line with the regulations at each border.
Are you planning a large investment?
Owning a business often results in large investments being made. From property to equipment for the services that you offer, these purchases could total up to large sum. An accountant would be beneficial once scenarios such as this arise as they will be able to offer expert advice and guidance on how best to spend your money having professionally assessed your businesses financial positioning.
Are you planning your businesses future?
You don’t always need to wait for a large occasion, big spend or to be at a strong point financially before seeking an accountant. When writing out a plan for your business, accountants will have access to vital software, allowing them to create accurate projections and reliable reports about your business’ future. With these precise predictions, you will be able to move into setting realistic goals to achieve within the next few months and beyond. Even if you see an exit from your business in the future, the hiring of an accountant can assist you with the structuring of your financial affairs, ensuring that you receive the most money out of the business that you built before you make your exit and sell up.
There are multiple instances where your business may benefit from using the services of an accountant. If you are unsure if an accountant could help you with your business growth, finances or the easing of your workload, get in touch with us here at Hammonds Chartered Accountants where we can offer honest and professional advice. Contact us by calling 020 8249 6328 or emailing us at .