Accountants For Small Businesses: The Importance Of Financial Assistance In The Startup And Development Phase


At SureBooks our team of professional accountants for small businesses can help guarantee quality financial management, strategy management, and financial assistance for you and your small business. We offer a wide variety of services tailor made for small businesses, ensuring your business is always compliant with any and all legal formalities and regulations. We specialise in helping those who do not have the time or experience to adequately handle the finances for their business. Besides our accountants for small businesses, we offer a host of other accounting services that include payroll services, tax compliance, and financial guidance for any sized business.


For many businesses the most vulnerable period is when they are just beginning. A startup has many financial challenges to overcome in order to become financially viable. During this critical period, it may be essential to receive professional help to overcome many of these obstacles. In this article we will focus on the startup and development phase of a business lifecycle and evaluate the various ways in which accountants for small businesses can provide integral assistance in sustaining financial stability.




Thirteen Ways SureBooks Can Help During Your Business Startup


There are many smart, business-orientated entrepreneurs out there who are confident in their ideas, projects, and aspirations. You even be one of them. But even so we at SureBooks encourage all new business owners to seek professional financial assistance to ensure your vision comes to life.


Hiring competent accountants during the startup phase is one way to make use of the guidance and expertise our SureBooks team offers. We understand that each enterprise is unique and therefore, will have a different set of requirements and necessities.


Below you will find a list of some of the advantages hiring accounts for small businesses can provide you with during planning and startup:


Legality guidance and compliance


Accountants are able to offer and provide guidance and advice on selecting or choosing the most accurate and appropriate legal structure for your future business. SureBooks accountants for small businesses are equipped to help you manage these important decisions after taking into account numerous formalities that include but are not limited to liability, taxation, and effective management structures.


Implementation of business plan development


Developing a business plan can be a demanding and a stressful situation, as there are numerous financial considerations. Our accountants can help to alleviate this stress by assisting you through the process of creating a well-structured, detailed, and comprehensive business plan. A good business plan is vital in gaining investors and financing, so why settled for mediocre when SureBooks accountants for small businesses can offer you the best.


Financial projections


Sometimes it may be difficult as a new business owner to forecast realistic financial projections, and there is no shame in that as it can be a complicated matter, which is highly dependent on market fluctuations you may not understand. Our highly trained SureBooks accountants can offer guidance in the development of realistic and probable financial projections, taking into consideration sales forecasting, budgets and expenses, and cash flow statements and reports. Financial projections go hand-in-hand with business plans when selling your ideas to potential investors and having detailed plans will be critical in obtaining funding as you move forward.


Strategic tax planning


If your startup business makes use of accountant for small businesses early on you will be able to easily develop strategic tax plans, that will help keep your business functioning in a financially compliant manner. Accountants can even help implement these tax plans and take advantage of any available deductions and credits available for your businesses, while ensuring full compliance with tax regulations and the law.


Financial regulations compliance


Our SureBooks accountants would further ensure that there is full and legal compliance with all financial regulations, requirements, and standards. Depending on the market you wish to establish your business in, this could be crucial, as some markets require further financial oversight apart from tax compliance.




Bookkeeping system operation and setup


Accountants for small businesses can help set you up with a reliable and accurate bookkeeping system. Having an effective bookkeeping system from the start is vital in ensuring that all of your financial records, present and future, are accurate, organised, and on par with the requirements and formalities of standard accounting norms.


Budgeting and funding assistance


As mentioned above, accountants for small businesses are fundamental in assisting in the processes of acquiring funding, investors, and financing. These accountants can also help you establish your business’s initial budget and provide further advice and guidance on the best or appropriate funding options. Accountants for small businesses can offer approximations on determining what the initial capital needed may be to begin operating your business effectively and comfortably.


Risk management and analysis


Many times, it may be difficult to be aware of all the potential risk factors that could affect their business in the long run. Even if you could spot them, you may not have the expertise to prevent them from happening. Our team of SureBooks Accountants can provide an independent and fresh perspective in identifying potential financial risks and help to develop the appropriate strategies to mitigate or avoid them. Accountants for small businesses contribute to the overall stability and potential longevity of your business or enterprise and ensure resilience and prosperity.


Business registration and licensing


Legal compliance with formalities and requirements is vital for any business during the startup, incorporation, and registration phases. You may need help during these processes. Here you can rely on our accountants do the heavy lifting during the technical phases of the above-mentioned process, while you simply provide our SureBooks team with all the information and access required to ensure all formalities are met.


Cash flow management


Cash flow is a financial term that refers to the movement of money in and out of your business. All businesses should aim to have a positive cash flow, where there is more money coming in than going out. This then results in a profit. Of course, by that logic a business would also want to avoid a negative cash flow where expenditures are higher than income, this would lead to your business incurring a loss.


Using the services of an accountant from the start of your business can help you more quickly achieve a positive cash flow. Our team can help you implement and develop strategies to effectively manage cash flow. This is vital in the day-to-day operations of the businesses and will ensure that the company is sustainable and resilient. It will also help promote the potential for growth which, in time, can lead to even greater profits.


Financial software selection and setup


As you, and your business, are unique and have different goals, aspirations, and plans; choosing the appropriate accounting software is a vital component in the startup operations. All our accountants are experts in several accounting programs and will be able to provide you with guidance and insight on using the correct software effectively. This will ensure that your new business is using the most up-to-date systems available.


Financial compliance and regulations


Accounting expertise can prove to be vital when it comes to ensuring there is an overall compliance with the standards of financial regulations and requirements for new businesses. Hiring our accountants ensures that your company will be financially compliant from the outset which mitigates any potential legal issues and furthers the ideology of good and honest financial practices.


Evaluation or alteration of business structure


There are many different types of business structures available within South Africa today, ranging from Public Companies (Ltd), Private Companies [Pty (Ltd)], Close Corporations (CC) [although these can no longer be incorporated in South Africa, they still exist], State Owned Enterprises (SOC Ltd) and non-profit organizations (NPO); among other structures. During the initial planning phase, you may select a certain business structure that may change once more research is conducted.


Hiring an expert can help you make the right choice in this regard and pick the right business structure from the start, which can help prevent costly restructuring down the road. Even when you do need to restructure our accounting team can help you do so in a financially responsible way.


SureBooks guarantees


At SureBooks our accountants for small businesses are fully accredited by the South African Institute of Chartered Accountants (SAICA) and the South African Institute of Professional Accountants (SAIPA), South Africa’s major accounting services bodies, as well as registration with the South African Revenue Service (SARS). We are further accredited with the Chartered Institute of Management Accountants (CIMA).


Our executive leadership body have not only worked as entrepreneurs like many of you, but they have also have experience at the blue-chip level, our leadership and accountants know what you need firsthand. We offer excellent communication, sound advice, unlock cashflow and offer only the best to you through our accounting services.


Many of those involved in SureBooks themselves have started out as entrepreneurs and started up successful businesses. We provide expertise in running finance at all enterprise levels, as a means to uplift you and your company and help smoothen operations and optimal functioning. We have over 20 years of experience, various entrepreneurs, and blue-chip finance experience.


Accountants sometimes get a bad rap for being boring, mundane and generally bleak. Here at SureBooks, however, we offer enthusiasm and ensure that we are up to date and tech-savvy. We ensure that the latest in technology works with you and not against you. Our choice of technology and application provides for accurate and comprehensive accounting services that help to promote growth within your business. Some of our choices of technological use include; Xero, Receipt Bank, and Simple Pay.


For accountants for small businesses and all your other accounting and finance managing needs, enquire and look no further than us here at SureBooks. For more information and a complimentary consultation, feel free to reach out and contact us through the contact information we have supplied on our site. Your business is your baby, why settle for anything less than the best care and skill, why settle for less than SureBooks.


Latest From Your Small Business Learning Centre

Contact us to schedule your complimentary consultation.