How can accountants help start-ups?

Here at finzo we are proud to specialise as accountants for start-ups. When starting out, it can be quite overwhelming to decipher the financial jargon and various rules that you will need to abide by, such as the upcoming Making Tax Digital for VAT rules being enforced in April.

Therefore, it can be beneficial to have a trusted advisor to support you through the process of building a business. We have a proven track record of helping start-ups through the initial stages of business start-up as well as achieving success.

Why start your own business?

An increasing number of young people seem to be deciding to take a more entrepreneurial route, as demonstrated by a poll, from Mushroombiz, revealing that 32 per cent of 18 to 24-year-olds aspire to start their own business (up from 23 per cent in 2021).

Also, in the face of the pandemic, many individuals with well-established careers evaluated their work-life balance and may have concluded that they would rather be their own boss. Hence, are contemplating shifting towards becoming an entrepreneur and starting their own business.

What do you need to start your own business?

In order for a start-up to be successful, there must be a gap in the market for the good or service that you wish to provide. In essence, you need to find out whether there are consumers that will be willing to pay for the product.

Aside from the initial business concept, getting to grips with the financial side of the start-up is essential.

Turning to an accountant who is well-versed in dealing with start-ups, such as the experts at finzo, can help with this transition in various ways, some of the ways that we help include:

  • Formulating a business plan
  • Structuring the new company
  • Advice with securing finance (including grants and investment)
  • Advising on which taxes you will be liable for
  • Accounting administration
  • Tailored recommendations for the best cloud accounting apps to optimise efficiency
  • Access to an online learning platform to assist in enhancing business skills

You can find more information on how we can help start-ups here.

When starting a business, it is also important to nurture long-lasting relationships, which is something we do here at finzo.

By having a dedicated finance expert to advise on a personal level, we ensure that our clients’ companies achieve their goals and continue to grow.

Anthony Price, CEO and Executive Director, SeedL Group commented on our work:

“The team at finzo have worked so closely with SeedL Group that the relationship feels more as if they are colleagues than external suppliers. They are enthusiastic about our ambitions – they take a real interest in what we are doing, which makes you feel like it’s a partnership.”

If you require advice with starting your business, contact our expert accountants for start-ups today.

Posted in Blog.