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Why hiring a Wirral accountant makes good business sense

It doesn’t matter what type of firm you are, if you have to run your company in the most efficient way. Doing so ensures that you can offer your products and services at a competitive price, while still remaining profitable.

Tap into your accountant´s business experience

An experienced and professional Wirral accountant can help you to do exactly that. The fact that in the past they have worked with all kinds of companies means they understand good business practice, and how to help you to become more efficient.

Often, they will have worked with some of the larger firms in the area like Unilever, SeaKing Electrical, Stena Line, or V&A Hydraulics. A good accountant can use the experience they have gained working in those places to help you to become successful. This is especially the case if your accountant has previously worked with other firms that operate in your sector.

Set up efficient accountancy practices

Most accountants will start by advising you how to put effective accountancy practices in place. There are many reasons this is important; for example, if your accounts are not kept up to date, it is impossible to see problems coming and take the necessary steps to avert disaster. You will also find it practically impossible to file an accurate tax return.

Cash flow

Every year, thousands of profitable businesses file for bankruptcy. Sometimes, firms that find themselves in this situation have full order books, but simply lack the cash flow to be able to buy raw materials to fulfil those orders.

A good accountant will be able to help you to avoid something similar happening to your company. They will put together a suite of cash flow reports that are tailored to your business. Using these, you will be able to see trouble coming, and take action to resolve any cash flow issues before it’s too late.

Profit and loss guidance

Every business needs to market itself to succeed. To do this effectively, you need to know which products and services you should be promoting. The best approach is to focus on those that make you the most profit, which is where your accountant comes in. He or she can produce profit and loss reports which will help you to understand your business better and see where you are making the biggest profits.

Access to funding

At some point, most successful businesses will need funding so they can expand. There are plenty of places to apply for loans, but securing one with favourable conditions is not always easy. This is something that a good Wirral accountant can help you with.

Their experience means that they are familiar with the application process of most types of financial institutions. As a result, a good accountant understands how to put together an application that is more likely to be successful.

In this area, there is a lot of funding available locally, such as startup funds from the Wirral Chamber of Commerce or project finance from the local funding organisation MSIF. When you employ a local Wirral accountancy firm, you can tap into this important knowledge.

Posted by Mark
May 5, 2017

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