What to Think About When Starting Your Own Accounting Firm?

December 1, 2020 5:08 am

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If you have decided the time is right to be your own boss and set up on your own as an accountant, you probably have many reasons for doing this. But before you do, here are a few things that you should consider if it is your dream to run a successful accountancy firm of your own…

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One of the first things that all new businesses start with is a business plan. You will have to create this, it is a useful tool that will help both you and anyone who has an interest in your business, such as banks. Included in your business plan should be a description of your business and what you aim to achieve long term, an analysis of the competition, market research to show you have researched your potential customers and your costs and financial projections.

 

You also need to consider the practical side of the business – where will you work from? Do you have a suitable place to work from home, or will you rent an office? Do you have all the things that you need to operate, such as this Intelliflo software for financial advisors? Will you need to hire any staff and how many hours will they work?

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A lot of hard work, thought and determination goes into starting up a successful business, but if you are determined and willing to work hard for it, good accountants are always something that is needed, so you should be successful!