A GOOD ACCOUNTANT IS IMPORTANT!
A GOOD ACCOUNTANT IS IMPORTANT!
ᴅᴏ ʏᴏᴜ ᴋɴᴏᴡ ᴛʜᴀᴛ 50% ᴏꜰ ꜱᴛᴀʀᴛ-ᴜᴘ ʙᴜꜱɪɴᴇꜱꜱᴇꜱ ᴇɴᴅ ᴜᴘ ꜱʜᴜᴛᴛɪɴɢ ᴅᴏᴡɴ ɪɴ ᴛʜᴇ ꜰɪʀꜱᴛ ʏᴇᴀʀ ᴀɴᴅ 95% ꜰᴀɪʟ ᴅᴜʀɪɴɢ ᴛʜᴇ ꜰɪʀꜱᴛ 5 ʏᴇᴀʀꜱ ᴏꜰ ᴛʀᴀᴅɪɴɢ? A GOOD ACCOUNTANT IS IMPORTANT!
This may seem very discouraging to new or even existing business owners, but don’t worry, there are ways to prevent this disaster from happening. Many people are not aware that there are simple ways to avoid having to close your business. A good accountant is important!
Time is precious and should be used on what you are good at!
Business owners always focus on getting their business up and running. They may not be aware of the importance of having an accountant and the impact it will have on their business, suppliers, customers, employees and even their personal life!
Everything that goes in and out of a business revolves around financial transactions. These transactions need to be sorted out properly and promptly. Business owners need to know how their business is performing on a timely basis. This is extremely critical for decision-making. Business owners should know how to improve their business based on the financial information provided by their accountant. For example, how much profits earned year-on-year, cash flow and financing position, effect of credit terms granted etc.
Business owners should use their time on strategy formulation, product/service innovation and business development . Business owners should not spend their limited time on struggling with accounting and financial planning. A good accountant can provide the solutions while business owners focus on their business.
This is exactly the reason why some business owners who do not understand the importance of a good accountant are bound to sink quickly.
It may seem like you may track all of this information yourself and save a bit of money but this will not do you any favour further down the line.
As a good accountant have vast knowledge and years of experience and business insights, they are a very important part of your team.
No matter the size of business, professional expertise and support of an accountant will not only improve your businesses future but also make your life easier!
Time isn’t the only thing you will gain but a major reduction in stress will benefit your personal life too! This leaves you with more information and time to plan and execute plans for your business future. This will definitely provides a major advantage in running your business. Besides, you will have more time to spare for your personal life!
If you are currently running your own business or are thinking of starting, CONTACT US NOW!
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