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Small Business Ideas Forum

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Old 13th February 2009, 05:38 AM   #1

Join Date: Feb 2009
Location: UK
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Default How To Start A Bookkeeping/accounting Business?

I have been studying bookkeeping and accounting also tax prep. I am wanting to know if anyone know how to go by starting a small business. Like grants, supplies, etc

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Old 13th February 2009, 02:43 PM   #2

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Location: Boise, ID
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Default Can you be more specific?

Exactly what do you need help with?

What is your budget?
Target market?
Specific Services?

Mark Fackrell
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Old 21st February 2009, 05:05 PM   #3
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Can you be a little more specific?

You might also think about franchises. There are many that offer the services you are talking about. They usually charge a minimial start-up fee and take a small percentage of your overall gross. But they will provide everything you need to get your business off the ground - including local marketing.

Or, have you talked with your local business development office (in the US these are organizations like SCORE or SBDC)? Find some free local servicess that are there for people just like you.

If you are looking for money - this is a hard market for new business funding. Or, you would have to use your personal assets and credit to get personal loans - there are a few out there that are lending provided your credit is excellent and you have means to repay.

Some things to think about - have you written a business plan? I am not suggesting you write one - but, there are many templates on the internet that you could follow and think through. Thus, you would get a better idea of how to start and what info you would need.

Or, you could just open a business checking account, lease some space, turn on a turn and internet connection and start marketing in your local community.

Just some thoughts

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Old 18th May 2009, 03:22 AM   #4
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Knowledge and experience are required for business start. If you have good knowledge about bookkeeping business than you can start it.

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Old 24th May 2009, 09:19 PM   #5
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I'd check out the resources supplied by any professional societies in the UK. In the US, we have several national and state professional associations that supply lots of great info.

Good luck!

P.S. I'm a tax accountant.

Steve Nelson, Publisher, www dot llcsexplained dot com and www dot fasteasyincorporationkits dot com.
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Old 29th May 2009, 04:44 AM   #6

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You must have the capital to be able to start a business, then set up your business plan, what will be your product or is it services you are offering, who are your target market, your location, then work on your marketing plan on how to sell your product or services to the market.

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Old 18th June 2009, 08:14 PM   #7

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I started out by buying a bookkeeping franchise, and that was a great way to get marketing material and general advice.

However, I already had a significant number of years experience as an accountant and this was key to early success.

What someone else mentioned about having enough capital behind you to start applies to any business. The biggest contributor to business failure I've seen over my years as an adviser has been underfunding. It takes time to build up your clientele to a level which is bringing in a reasonable income, and you need something to live on in that time.

I've seen a lot of bookkeepers start up a business with just some training under their belt, and it's been difficult. My suggestion would be to work as a bookkeeper in someone else's business first so you at least get to know what the flow of processes is in practise.

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Old 1st July 2009, 03:50 PM   #8

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Default Experience is key

I totaly agree with meredith, experience is absolutely crucial. I just recently started my accounting/bookkeeping business and I also work full time in an accounting position. This combination allows me to be financially independent of my business, but still gives me some time to dedicate to it. Eventually, I am hoping, when my revenues will reach a sustainable level, I would be able to make a move.
My advice would be to try and get a job in accounting first, so you can learn the right ways of doing accounting before you go out on your own and start spreading bad practice. It will only come back to hunt you.

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Old 6th July 2009, 08:44 AM   #9

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First of all make it clear what services you'll offer and what sorts of businesses you'll aim. Do you want to offer other services such as income tax returns, collection letter services or word processing? After you have done with it give it a go. You can also get some online tips, these will also help.

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Old 4th November 2009, 03:53 AM   #10

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Most of Bookkeeping Services has main focus on financial accounting services, bookkeeping accounting services and financial bookkeeping for small bookkeeping business.

So,Many other person prefer Bookkeeping services.

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