Are you a small business owner who doesn’t use an accountant? If so then this is an article for you in which we will explain the many benefits that using an accountant can bring. We spoke with financial expert Barry Bulakites, on exactly why small business owners should be employing the services of an accountant, and just what doing so will be able to bring to the company on the whole. There is no prerequisite of course that you should employ an accountant, but failure to do so will mean that you miss out on these many benefits.
Time
If there is one thing which business owners, especially small business owners, count on more than anything else, it is their time. You cannot put a value on time, put all business owners will be more than aware that there is rarely enough of it in the day. When you outsource your financial side fo the business to an accountant, you can free up the time which you have previously spent trying to get through the books, and make sense of the company finances.
Tax Adherence
Tax adherence and due diligence is a very serious part of running a business and failure to pay what you should could result in hefty financial penalties or worse. By contrast, if you are not doing the job properly, you may find that you are paying far more tax than you should be. An accountant will be able to ensure that your business is doing everything that it is supposed to from a taxation point of view, and that it is also paying the correct amount of tax.
Advice
Making financial decisions about your business can be difficult because you are emotionally involved in it. This is where an accountant can step in and give you some sage, and some impartial advice. Many business owners make decisions with their hearts rather than their heads, and it is this which results in errors. To have someone on hand however, who you can reach out to for some frank and honest advice, would be a great option to have.
Contacts
Because of the fact that accountants work across the financial spectrum, many of them amass a huge list of contacts throughout their careers. Where this may help you and your business is that your accountant will be able to call upon their contacts whenever you need some assistance such as investment opportunities, investors, mortgage brokers, real estate agents or any other number of financial and non-financial contacts which could help you out in the future. Having an accountant is about more than just someone to crunch numbers and make sure that the books are in order, they can also offer great advice, put you in touch with key people and essentially work hard to ensure the future success of your business. This is why you need an accountant for your small business.
