I often see how new business owners tend to overwork themselves as they try to fill in the essential 5 elements of a business: Marketing, Compliance, Operations, Recruitment, and Financial. They dive in to each and every business element and forget the core purpose of their business. Business owners would eventually find themselves woking 5 different jobs all alone without enough time to enhance the core purpose of their business.
Almost all business elements are tied to its financial position. If a business has a solid financial foundation, it will allow its owner to start hiring for professionals in vast departments.
Having a professional accountant relieves the business owner from trying to figure out if it's the right time to hire new employees, expand their business offerings, or even identify opportunities for government funding or exemptions.
In addition, a highly skilled accountant will easily help your business get approved for business loans and credit cards. Not to mention, their support in developing a well-round business strategy that would help the business owner turn their business goals in to reality.
Not to mention ensuring compliance with HMRC guidelines. Your accountant should help your business remain compliant and even assist you to become more tax-efficient.
And in the event of a tax investigation, your accountant should be the first one you call. Well-experienced accountants can make the process of a tax investigation smoother & less stressful.
A great accountant would not just address the finances of your business, they will address the finances of all the directors as well.
A modern accountant would utilise the latest technological financial solutions. They would set up a smooth onboarding & training process to implement new financial software. They would optimise and automate your business's financial processes. And essentially set up your business for success!
At Elena Meskhi & Co., we are more than just an accountancy. We see ourselves as our client's financial partners. We aim to automate & optimise our clients' financial processes & ensure compliance with HMRC. Our purpose is rooted in providing Smart Solutions for Successful People and giving our clients the financial freedom & independence they deserve!
When starting and growing your company it may feel overwhelming with all of the ways to get support from other experts, but when should you choose to get an accountant for your company? We share our advice in this video with Elena.
