It’s not uncommon for most new small businesses to start out at home, with people often working a part-time position alongside their new enterprise until it’s stable enough to provide a regular income and be the single revenue stream. So where does that leave you with looking for a cheap accountant? Let’s take a look.
Is it worth hiring an accountant?
Building a new business from the ground up isn’t easy and requires a business plan, patience and hard work. All fun stuff! In the early stages of building a business, any spare money is likely a miracle which then gets channeled into something else because hiring an accountant is not at the top of everyone’s priority list, but maybe it should be?
Using their knowledge and experience
Knowing what is claimable and making your money work for you is crucial for any start up business wanting to grow and find stability, and this is where an accountant can be extremely useful.
Add to that the fact few people have experience of dealing with HMRC; in fact most new small businesses are setup by people who have been in permanent employment most of their working lives, so it’s a steep learning curve. Managing that experience can be much easier with an accountant on board.
Finding a cheap accountant
So where do you start? This all depends on your own needs and preferences. It’s time for some research!
Some accountancy firms operate purely online, offering a low cost accountant service online. The services are mainly targeted at small businesses and offer a full range of accountant services at affordable prices.
Just because someone offers their services as ‘cheap accountants’ doesn’t mean that the quality of services will be low. The fact that most cheap accountants are online based gives them the ability to reduce their costs to businesses because they haven’t got the overhead costs of a firm paying high-street rates for their offices.
Another advantage to hiring an online accountant is the fact your search is not limited to a local search. Your choice is spread across the UK. You could be working in Devon, but using an accountant in Birmingham because everything is done online and all communications are across email, phone and mail.
Bringing an accountant on board to your new business makes sense and will help you build a platform on which to grow. It will free up time that might be spent on bookkeeping for you to focus on bringing in new business or promoting your services. Start getting quotes and see who fits within your budgets and what services they offer.
Find more help in our online accounting hub, and learn more about how to find the right accountant for your business.
