If you own or operate a small business, you are no doubt well-acquainted with the many challenges it brings. And, if there wasn’t enough already on your plate, managing the business’s finances can be overwhelming, to say the least. But, with an accountant for small business, it doesn’t have to be.
From tax and staff wages to superannuation and operating costs, the financials can be a minefield for business owners. This is why having an accountant specialising in small business finance is your best point of call.
However, it’s not just managing a business’s costs and cash flow. Having an accountant for small business means you’ll have guidance to set goals and targets to grow your business and your profit in an achievable and sustainable way.
As one of Melbourne’s leading accountants for small business, we have put together a list of the five key reasons you should switch from a generic accountant to a small business accounting expert.
Free up time
It goes without saying that business owners are busy people, and trying to stay on top of the finances while focusing on the business’s operations is no easy feat. It’s also incredibly daunting and confusing, particularly if you’re a start-up. An accountant for small business understands these challenges, niches and intricacies, which means you’ll spend less time doing the stuff you don’t want to do and more time doing what you do best.
Improve tax outcomes
Tax time strikes fear into the hearts of many small businesses. While this is understandable, it doesn’t have to be that way. With a tailored tax plan from your small business accountant, you’ll feel prepared going into tax time and won’t have any unexpected surprises. This ensures better cashflow and less stress; a win-win!
There are endless responsibilities for business owners, especially if you employ staff. Your business’s viability and financial stability rely on your compliance, which is why having an accountant for small business is the best way to ensure you meet your employer’s responsibilities, tax obligations and regulatory standards.
Grow your business
At the end of the day, the goal of a business is to grow. But without the proper advice, you might be unable to take your business to the next level. An accountant for small business can advise on the best way to budget, protect your assets and optimise cashflow to make sure that your money is doing what it needs to and when it needs to in order to grow. There is no goal too big or too small; whether you want to employ more staff, open up a new store or go global, an accountant for small business will get you there.
Profitability is the key indicator of a successful business. While it might seem easy to make a profit on paper, it can be a lot more challenging in practice. When conducting a proper structure review of the business, many business owners are surprised to discover that their margins could be much more substantial with a few tweaks. This is something an accountant for small businesses will be able to investigate and provide guidance on how you can maximise profit.
Contact PCR Accounting & Advisory today to see how our small business accounting specialists can assist you.
Owner of PCR Accounting & Advisory, Peter Marmara-Stewart is a top-tier accountant and financial advisor dedicated to helping clients reach their business goals and achieve financial freedom. Peter is highly regarded for his client-focused approach and entrepreneurial spirit, catering to a diverse range of professionals across a wide scope of industries all across the country. Peter’s expertise can help you plan effectively, set goals, maximise profits and protect your assets. Get in touch today on (03) 9847 7516.