Proven Small Businesses You can Start – Accountancy
As an accountant you can offer some of a number of services to your clients. These include keeping full accounts, providing advice on accounts, taxation and finance issues, management consultancy and auditing.
You will need to be able to manage the completion and storage of data, and be able to meet deadlines, many of which are tight. Patience is also important, both in learning and in carrying out a job that most people consider boring.
The location you choose for an accounting business is not usually important, somewhere accessible is needed, but an expensive high street office will cost more than it is worth. You will often be travelling to a client’s office, and passing trade is not going to be an issue.
You will need training and qualifications to become a professional accountant. One of the most widely recognised is the Association of Chartered Certified Accountants (ACCA) Professional Scheme qualification; you can go on to study degrees or even an MBA in accounting areas. You will almost certainly be required to work for an existing accountancy company as part of your training; only once you have all of the necessary knowledge should you start up on your own. There is a lot of learning; but the more you learn, the more you can earn! To run a successful accountancy you will need computer equipment for creating and storing clients’ data. A laptop is important too, as it allows you to work whilst with a client, rather than needing to travel back to the office to work. As an accountant you can earn excellent money, particularly if you are trained in an area of specialist knowledge. You will need to find a number of clients to m ake money, and provide a good enough service to keep them with you.
Accountancies often find customers through good word of mouth. Advertising in local papers and business magazines can help to find new clients, as can advertising in a local directory. A successful accountancy is likely to need at least two or three accountants to cover all of the necessary work. It is for this reason that most new accountancies (small and large) are set up in partnership by a number of senior accountants; rather than by an individual.
Pros
- It is a very highly paid line of work if you have the ability and experience.
- Low costs after equipment purchase.
- The demand for qualified accountants is growing.
Cons
- There is likely to be a lot of competition in most areas.
- If you do not currently have any experience then a lot of training will be needed.
Summary
- Skill Level
- Medium to Very High
- Start up Costs
- Low to Medium
- Training
- Mainly long courses
- Experience
- Essential, most gained during training/qualifications.
- Equipment Costs
- Low
- Location/Office Costs
- Low to medium
- Transport Required
- Yes
- No of Staff (incl. you)
- 1-5
Article Index
- Proven Small Businesses You can Start - Introduction and Retail Shop
- Proven Small Businesses You can Start - Call Out Services
- Proven Small Businesses You can Start - Hairdressing
- Accountancy
- Proven Small Businesses You can Start - Painter and Decorator
- Proven Small Businesses You can Start - Laundry Services and Laundrette
- Proven Small Businesses You can Start - Take Away and Restaurant
- Proven Small Businesses You can Start - Dry Cleaning
- Small Businesses You can Start
- Proven Small Businesses You can Start - Marketing and Public Relations
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