Prime Blog

October 2012

Trust me I'm an Accountant

Taking the decision to set up a business can be daunting enough, without having to trawl through lots of different websites and sources of information to find out how you should do it, or decide who the best person is to speak to about your new venture.

Some turn to their bank if they have a relationship with them, others will see what the Council or local Chamber of Commerce have to offer. Quite often it can be their friend in the pub who is the definitive source of reliable information!

Start-ups are often targeted by all sorts of different ‘advisors’ with a variety of agendas. How do you know what is right and what is wrong? What is good advice or what is bad?

As a local firm of Chartered Accountants and Business Advisers we are contacted by many start up businesses who realise they need proper advice from the outset. However, in our experience, there are also a large number of start-up businesses out there who ‘blindly muddle through’ and only turn to us as they approach or have just completed their first year of trading – that can be too late. They may have felt they have ‘taken advice’ from someone but have been misled.

So why do some new businesses not talk to an accountant at the outset? Unfortunately, there often seems to be a perception that accountants just do year end accounts and tax.

However the reality is that accountants have a wealth of practical knowledge about businesses – they have a lot of clients of all types and sizes and of course are usually running a business themselves.

Our client meetings cover a lot more than just accounts and tax. But we don’t always advertise ourselves as prominently as other ‘advisers’!

There are important choices to be made when setting up – should you be a sole trader or a limited company, for example; what sort of accounting system should you use ( be careful as a Bank may try and ‘sell’ you the wrong one to meet their targets!).

We offer a first meeting, free of charge, so the message is, ‘Trust me, I’m an Accountant!’

Leave a reply

To prevent SPAM. What is 9+5?