There’s nothing like the feeling of being your own boss- as many accountants will be able to tell you themselves. It’s the catalyst behind many a small business that’s opened in recent years. However, a vast majority of those small businesses fail early into their history, and it’s also an arena that can be fraught with danger. Using the advice of your Melbourne accountant can play a big role in cutting down the risk and maximizing the reward. Here are some of the top reasons people have for founding their own business- and how your accountant can help with them.
Money, innovation, and being your own boss.
Of course, many people here over and over again that they will make more money working for themselves. It’s a bit of a honey trap. Of course, you could easily make more in a thriving and successful business then you’re making now- but you would have to get that business to the thriving stage! It takes two years plus to make a business start seeing realizable returns. While your accountant in Melbourne can help you set up your finances for the business properly, you’ll still need to be able to support yourself and your dependants in this phase- can you? Likewise, simply ‘not wanting to take orders’ isn’t always a recipe for success- you will need to be a driven person committed to your goals to make it successfully as your own boss. Lastly, if you’re trapped in a stale company with little room for innovation in your field, you may well do really well bringing those fresh ideas to a new business. Just do your research thoroughly first.Click here to read more information for necessary steps for starting a business.
Flexibility from your commute and your working hours.
Flexibility is a major draw card for most people hoping to start their own business. Whether it be ditching the two hour a day commute or the ability to set your own hours, it can be great. However, as any accountant in Melbourne experienced in small business will tell you, the grass isn’t always greener. Will you be able to work free of interruptions? Are you disciplined enough to set your working hours properly without a boss breathing down your neck? You need to answer these questions honestly and have a plan for yourself. Also remember that you won’t be a totally free agent- you will need to accommodate your clients before yourself!visit https://www.gov.uk/run-business-from-home to read more information on running a business from home.
Fresh change and the chance to make your dreams happen.
Maybe you’re itching to get out of a stale, boring job. Perhaps you just want a tool to help you realize your dreams. Be aware, though, that while your own business can make those dreams come true, it won’t just happen. It will take financial hardship, drive, ambition and a solid and dependable plan to get it there. Additionally, you will either need to gain a lot of financial and legislative knowledge to properly handle your accounts, or be willing to seek the advice of a good accountant to help you maximize your financial concessions via legislation and minimize compliance issues and missed deadlines that may result in hefty financial penalties.
Is running your own business for you? Let your accountant in Melbourne help you decide.