Small Business Advice – The Importance of a Good Accountant

When starting a business, it can be tempting to put off having a conversation with an accountant, and instead concentrate on other aspects of your business such as sales or marketing.

However, the reality is, the sooner you have the conversation the better, and here’s why.

With Google at our fingertips, it’s easy to think that we have access to all the information we need in order to run a successful business. However, chartered accountants can train for years to become fully conversant on all taxation and accounting legislation, and more importantly how they impact a business.

By hiring a professional who has trained with an accountancy body such as ICAEW, ICAS, ACA, ACCA, CIMA or CIPFA, you’re not only investing in expert advice but also the peace of mind of know that everything is being dealt with in the correct way.

Organisation

Like most business matters, organisation and preparation are key to success. Small businesses who manage their bookkeeping and accounting throughout the year are always ready when it comes to tax time.

Moreover, by engaging with a good firm of accountants you’ll have expert assistance at your side throughout your business’ growth and development, and will, therefore, be ready for any opportunities (or hurdles) that may come your way.

Maximisation of Savings

A professional accountant will not only keep your accounts organised but also suggest ways you can save money and take advantage of tax reliefs. It goes without saying, that any extra cash is a huge benefit for any small business, allowing you to invest or save.

Business Growth

Don’t just hire a bookkeeper, hire their analytical and advisory capabilities. A good accountant won’t just organise your money but instead will help you understand the numbers in order to maximise profits.

When hiring an accountant, it’s important to see whether they offer services such as writing business plans, financial forecasting, investment advice and insight reports. These services will help your business grow and ensure it is sturdy enough to withstand the test of time.

To summarise, if you’re starting out in business, it’s really helpful to develop a relationship with a professional accountancy practice from day one. Not only will it save you headaches in the long run, but a good small business accountant will be excited by your company, and so will go the extra mile to help you succeed and grow

Cottons gains inclusion to Handpicked Accountants

Cottons are delighted to announce that we are the latest accountancy firm to gain inclusion on Handpicked Accountants, an exclusive network of the very best accountants in the UK. Launched in 2017 by the professional services company Begbies Traynor, Handpicked Accountants aims to connect individuals and small business owners with trusted local accountants.

At Cottons, we fully appreciate the importance of small business owners having the support and guidance of an accountant they can rely upon. We pride ourselves on delivering the very highest level of customer service to all our clients whether their business is a start-up taking its first steps, or a well-established company with a growing list of needs.

David Tattersall, Head of Client Relations at Handpicked Accountants, said, “We are thrilled to welcome Cottons Accountants to the Handpicked Accountants family. With over 75 members of staff spread across 4 offices, Cottons have the breadth of experience and expertise to help your business thrive, regardless of the sector or industry. We have no hesitation in recommending the services of Cottons to any Handpicked Accountants customer in the Rugby, Northampton, Daventry, and London area.”

You can view our page on Handpicked Accountants here: https://www.handpickedaccountants.co.uk/west-midlands/rugby/cottons-chartered-accountants

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