Hiring An Accountant
Setting up a business as a sole trader is never going to be easy, but having to look after your finances during this process can be extremely time consuming for a solo company. Although you may be able to run your business alone, there are many benefits to hiring an accountant to help.
When it comes to helping sole trader businesses, Roger Hatherall & Co have years of experience dealing with many industries and will always be able to assist you with finances.
Dont Make Errors
No matter how perfect you think you are, at some point you will probably make an error. Whether this is paying too much, charging too much or just calculating your cashflow wrongly, there is always room for a mistake. If this happens, as a sole trader it can be difficult to quickly amend the situation and get back on track with your finances.
This is one of the main reasons you might require an accountant to look after the numbers for you. Roger Hatherall can help with all your accounting needs and ensure there are never any mistakes in your finances. If you re stressing over finances and your head gets in a frazzle, it can easily lead to a miscalculation this is a risk you shouldn t take. Use accountants and take advantage of what we do for a job, which is look after your business money.
In 2016, there were 4.2 million non-employing businesses. That means that 76% of businesses in the UK were sole traders and no matter what industry you are in, you have a lot of competition. When you are starting up your business, it is always important to seek the advice of an accountant, who can ensure you invest the right money in the right places to make your business succeed.
Although you may be able to plough through your first year, only 4 in 10 small businesses make it through to their fifth year. With only a 40% chance of survival, it could be time to invest slightly more money into an accountant, who has the experience of working with previous businesses and making them succeed.
When you hire an accountant, it isn t just managing your cash flow anymore. There are so many services that can help a small business or small trader that will help you plan ahead and grow your business and our accountants can help. Services that Roger Hatherall can help with includes:
- Taxation of Products
- Cash Flow Forecasting
- Updates with Tax Laws
With our team, you can plan ahead for your business and how you want to improve and grow it in the next month, quarter or year. With detailed reports on your company s finances, sole traders will be in full control of their business and will have more opportunities than running a business without any help.