Talking Cents

Consider An Accountant When Expanding A Business

Allowing your business to expand is fantastic. It means you'll be meeting more customers, generating more income, but also accumulating higher expenses. With that increase to your cash flow in both directions, it can become daunting to need to maintain your accounts yourself, and it might be a job that's best left to the professionals. If you're weighing up the pros and cons of working with a professional business accountant, then we might be able to help you make a decision that's going to help your busines

Delegation Makes The World Go Round

Even on a large scale, for a business to be successful, the person at the top of the hierarchy needs to do real work. However, since they are only one person, they'll delegate that work to their subordinates, who then delegate to their own subordinates, and so on and so forth until you've reached the cashier of your local chain supermarket, a job no less important than the CEO's and a task they would be performing if not for their vast network of employees.

If you'd like your business to expand past yourself, you need to become comfortable in delegating tasks to others. It can be all too easy to become accustomed to the feeling of being in direct, complete control of your business early on when you start your new venture, but it's simply not sustainable long term,as it will leave you stressed out and overworked.

Financial Delegation Is The Gateway To The Good Life

With that in mind, maybe you don't need to start with hiring customer-facing employees. Maybe you like that no one else's livelihood is dependant on the success of your business, or maybe you like the independence of actually performing the work on your own. Whatever the reason, if you'd like to maintain your independence while still getting an idea of what it's like to work with other people, you can delegate the financial responsibilities of your business to a team of professionals, and it has the added benefit of making your life easier.

Is There Anything Else An Accountant Can Do?

Of course! Having an accountant on hand can help you with a wide variety of problems beyond just measuring how much money is coming into and out of your business. When you try to get a bank loan, having an accountant on your team not only makes it obvious that you're serious about your business, but it also allows you to present an air-tight case as to why you deserve the money. Should the government decide to audit you, then the accountant might be able to help you navigate that audit and come out the other side unscathed. Whenever your business accounting responsibilities are expanding, then you'll need an accountant to manage it.

So How Do I Start?

Starting to work with an accountant is simple – just give us a call. To speak with our team of small business accountants in Sydney about what we can do for you, call us on (02) 9211 5000.