9 More Ways Your Accountant Can Help You Start a Successful Small Business

For many, starting your own business is a dream come true:

• Work your own hours.
• More spare time. (Eventually!)
• You’re the boss!
• Peruse your passion.
• Help people.
• Create an asset.
• Make more money.
• Gain financial independence.
• Enjoy tax benefits.

But There’s More To Starting a Business Than Just Passion

Drive and desire is one thing. Funding your start up and managing-the-books is something entirely different – especially if you don’t have a solid understanding of business finance.

EPR Yellowknife Accounting Professional Corporation appreciates that you may consider doing the accounting yourself in an effort to try to save money in the beginning; however, you’ve already got a lot on your plate. You need to focus your efforts to starting and building your business. That’s what you do best.

What to Do in the Beginning

When starting your business, there are a number of ways an accountant can help you create a solid foundation to build your company. They can advise you on:

1. Writing your business plan – specifically the financial part.
2. Providing professional advice about your company’s legal structure – whether your company should be a sole proprietorship, a corporation, or a partnership.
3. Selecting the best software to help you track your day-to-day finances by accessing professional financial reports as well as separate your personal and business expenses.
4. When and how to apply for a business load or overdraft.
5. Complying with government regulations and requirements. Taking advantage of efficient tax planning and knowing how to keep more money in your pocket.
6. Dealing with CRA Audits.
7. Whether or how to buy a business.
8. Whether to buy or lease.
9. Managing your growth and adopting various financial strategies in a timely fashion.

You Have Options When Starting Your Business

You may consider hiring a reputed accounting form like EPR Yellowknife Accounting Professional Corporation for all of your financial service needs. Or you can choose a combined approach where you or a bookkeeper handle the day-to-day financial activity of your company while utilizing an accountant during the start-up phase – and then have them handle your annual reporting.

The most important thing you can do is to surround yourself with a team of professionals you trust that have nothing but you and the success of your new business in mind. This is the kind of thinking and planning that will help make all your dreams come true.

EPR Accounting, Yellowknife
Address: 4910 50 St, Yellowknife, NT X1A 3X8
Phone: (867) 669-0242
Website: www.epryellowknife.ca