March 23, 2019 0

How can accounting services help my business?

How can accounting services help my business?

Innumerable businesses start up every day. Most of them hope to be able to become a Multi-National Corporation someday and make a name for themselves. Though, according to Bloomberg 8 out of 10 businesses fail within 18 months of establishment. Why is that? A key cause that many analysts recognize is the lack of proper record keeping. This is where accounting services come in. However, accounting services aren’t limited to helping with managing records and accounts, in fact far from that. A good accountant can help your business grow, make better decisions, appraise investment decisions… and the list can go on.

An accountant should be able to provide you with direction on taking your business to the next level and the right ways to do it, from structuring the business properly to making sure you avoid snags such as overtrading. An accountant would manage your cash flows and alarm you in situations of poor liquidity. An accountant would also help businesses grow through helping in strategic decision making. He/she should be able to appraise strategic options and recommend on the best one from them.

Accountants can be the perfect advisors since they’ll help you spot inefficient operations management practices that may be preventing your profit margins from being as high as they could be. Being an expert in managing money an accountant may be able to lower your expenses and potentially increase sales. They key is to see an accountant as an investment, an asset, and not as a cost to your business.

You can also raise finance more conveniently with the help of an advising accountant by your side. Accountants can help you raise finance without worsening your business’s gearing or liquidity ratio to an irrecoverable rate. In essence, that means an accountant can help you raise finance without risking the financial position of your business. They’ll be able to compare options such as loans, issuing of shares, crowd-funding etc.

As the owner of your business or the CEO of a company, you are likely to be involved with a handful of tasks. There’s only so much any human could do without exhausting themselves. A reliable accountant will save a lot of your crucial time and consequently help you specialise in areas that may be of greater importance to a business’s growth.

Every business at one or the other point needs to indulge in drastic changes in their organisational structure and management styles. This is because of the fragility of the environment that businesses operate in. To remain competitive, they must always change and strive for the best decisions. Failure to change, taking the wrong steps to implement change, or implementing the wrong change can all lead to business failure. Changes may include changing the hierarchical structure of the business, changing the legal status of the business, bringing a business partner; your accountant will be of great help in any case scenario. Accountants are knowledgeable in a vast array of topics and can offer you primed professional support and guidance.

Whatever your need be, Chekin is the place to help you find the right accountant or accounting firm in the U.K. for all your diverse needs. With over 4000 accountants and accounting firms, you’re sure to find the one fitting your needs. The process is simple: you submit your requirements to Chekin through answering some questions, you connect with a shortlisted few relevant to your requirements, and then you hire the Accountant or the Accounting firm you perceive to be the best.   

Consider the benefits of having an accountant you can count on to help your business flourish and thrive.

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