Online accounting has inevitably led to a plethora of cheap and faceless solutions because the technology we now have has made compliance work easier to process. (Compliance work is all the mandatory documents that are sent over to HMRC, for example your year-end accounts and tax.) Does this sound attractive to you as a business owner with ambition to grow and scale? If it does, you have fallen at the first hurdle. Cheap is not always cheerful.
With growth comes obstacles. When you face these obstacles, compliance services will not save you - however advisory services will. As your business grows, you’ll find that you will need these advisory services to maintain success.
What else do you need? There is definitely a need for you to understand your figures. If you aren’t completely clear on what your financial information means, then you might make a few undesirable business decisions which can lead to nastier problems. It is difficult to grow and scale when making these blind decisions.
Simply put, if you are a business that has ambition to grow, you’re going to need advisory services in most (if not all) stages of your business life-cycle. You’ll need advisory service in order to grow and will need it to maintain growth, too.
If you're using an accountancy firm providing merely compliance services, then that won't suffice for your increasingly sophisticated requirements.
Get you an accountant who provides great customer service, has a wealth of knowledge, and who wants your business to succeed as much as you do. Select and invest wisely.
Disclaimer – this information is correct at the time of publication and is provided as general information not to be relied upon without a discussion with a suitably qualified professional