The transition from an idea to a formal business and from there to being an established corporation is based on crucial decisions. These choices decide the success or failure of your venture. And in order to survive, you need to make right one aspect of your operations – financial management.
An accountant is paramount to every startup wanting to transition into a legitimate business. Below are reasons you need to hire one for your startup:
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1. You need a specialized perspective on your finances once you’re running everything
When you first start out, you’re probably your only employee. That means you’ll be in charge of marketing, managing, and customer service. Keeping your books up to date is really important, and you can’t just skim over them or else you’ll be bankrupt before you know it.
2. Accountants brief investors on the financial viability of your startup
Investors aren’t impressed with ideas alone. They want to see figures, growth, projections and hard data. Even if you’re years away from luring in investors, having an accountant with your company at the start means having someone that knows, and has watched your finances from the very beginning.
3. Accountants make growth easier
While most entrepreneurs like to go with their gut when making huge financial decisions, accountants know when it’s a good time to expand, they know how far you can stretch your finances without putting your business at risk.
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Hi, my name’s Jack Bonner. I’m a college student born and raised in Arizona. I’m taking up finance to become a forensics accountant one day. Visit my page to know more.