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Reasons why you should hire an accountant at the early stages of your business

Starting a new business can be extremely stressful, with lots of new territories to explore and information to find out. Paying special attention to your business accounts during this time is extremely vital, which is why hiring an accountant to be on hand and support your business during its early stages is very advantageous. Here we have listed the top reasons why you should utilise an accountant during your business’s early stages:

• Extensive knowledge and experience: Bringing in an accountant who already has extensive knowledge and experience in the start-up field will be extremely beneficial. They can work with you to determine the best business structure for your company (partnership, corporation, sole ownership) and assist with the financial analysis in your business plan.

• Identifying issues: Experienced accountants can identify issues in your business’s finances at the early stages, which is extremely valuable for preventing problems before they get worse. This includes ensuring any independent contractors are classified as such and that your company payroll and payment processes are in order.

• Legal advice: Accountants have a wide range of knowledge about the legal requirements of a new business and having an accountant on-hand will be valuable when dealing with tax rules, cash flow and employee benefits, amongst other things, whilst also keeping your business up to date with the latest government legislation.

• Boost growth: As part of their services, your accountant will try and find the most effective ways to boost the growth and financial success/profit of your new business, including providing advice on property and equipment leasing and purchase as well as making financial forecasts.

• Increase your knowledge: Having a strong understanding of your business’s accounts is essential, and the best way to ensure this is to work with an accountant who knows what they’re doing. They may even be able to teach you enough skills so that you can take over the management of your business’s finances in the future.

Our services

At CWR Accountants, we offer a wide range of accountancy-related services. One of our most popular services is business start-up, acquisition, disposal and corporate finance, where we can support your company as it’s just starting out. Our expert accountancy team is based in Lancaster so for more information about our services or to book a free consultation, visit our

https://cwr-accountants.co.uk/contact/