If you seek out the right support early on and put in place the best structure, you’ll be in a better place in the long term. This is easy to say after the event, but because you never did it, doesn’t mean to say you can’t do it now.
At Elsby, we’ve met plenty of clients who were honest in admitting it was time to move on from their existing accountants. Unfortunately, some decide to stick with the status quo for reasons we understand.
‘Moving on’ isn’t always easy, perhaps the existing accountant is a family friend or someone that supported them in the early days. As the business grows it becomes clearer that their accountant doesn’t always have the right level of expertise, or they may be too busy to give them the time because they’re a team of one.
Staying with an accountant out of displaced loyalty is an honourable sentiment but if you are not getting the best service for your business, your accountants won’t be the ones who suffer.
At Elsby, we believe there is more to accounting than a set of books, non-compliance elements such as business strategy, growth, funding, and wider business development advice are just as important. Your accountant should be an important resource for this type of expertise, giving you the time and freedom to work on the business, rather than in it.
With many subject experts within the business, we’re well-placed to cater for the growing needs of SMEs. It’s true that some small business owners are unaware of the tax reliefs they could be claiming to reduce their tax bills, we like to think outside of the box, and work hard to understand the business, claiming any available tax reliefs.
It’s something of a myth that changing accountants is difficult, it can be simple and straightforward. We provide a free meeting (in person or virtual) where prospective clients can bring in their accounts or tax returns, we can probably even make some suggestions there and then. For those choosing to change, we’ll e-mail the existing accountants requesting a few items and some forms to complete. It’s straightforward and quick and means the business will be in a better place moving forward.
It never hurts to get a second opinion and a conversation cost nothing. If you’re reading this and nodding, we hope you’ll take the plunge and invite Elsby to be a part of your future and provide a level of advice and expertise which can help you reach your business goals.
This is an abridged version of the Elsby article featured in the Business Times A good accountant matters more than ever – Business Times (business-times.co.uk)