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You may have a fantastic concept for a new business, or perhaps you’ve discovered an underserved niche dying for a service like yours. However, running a successful small business takes much more than a great product or service and unique branding. As a small-business owner, you also need the financial skills to maintain the books, track spending, prepare budgets, and effectively allocate resources. While many small-business owners have some of the skills needed to perform these tasks themselves, there are some compelling reasons to hire a certified public accountant to handle your business’s finances.

5 Reasons Every Business Needs a CPA

1. Saving Time

certified public accountantAs your business grows, bookkeeping and accounting chores will likely consume an ever-increasing portion of your workday. Having a certified public accountant take care of your finances will give you back hours of productive time each week that you can then devote to building your brand, attracting new customers, or developing your product.

2. Complying With Tax Law

Making a mistake on your business taxes can have serious consequences, potentially jeopardizing your new enterprise before it has a chance to take off. Certified public accountants are familiar with every aspect of the tax code and can help you avoid common mistakes and reduce your tax liability.

3. Maintaining Detailed Records

Having an accurate understanding of your financial health is key to the long-term success of your company. Certified public accountants have the expertise to ensure your books are up-to-date so that you’ll always know exactly where you stand.

4. Identifying Waste & Investment Opportunities

Certified public accountants do much more than daily bookkeeping. They will also regularly review your expenses, identifying areas where you may be overspending or underinvesting. Their advice can be instrumental in setting long-term strategic goals and in getting the most out of limited resources.

5. Securing Funding

A small business loan can provide the necessary capital to get a venture off the ground, but lenders need to see detailed business plans, profit-and-loss statements, and other financial instruments before agreeing to lend. A certified public accountant can prepare these documents for you, increasing your chances of getting the funding you need on favorable terms.

 

For over 30 years, William G. Molitor, CPA, has provided financial services to entrepreneurs throughout the Saint Peters, MO, area. Whether you’re launching a new startup or have been operating for years, you can rely on their certified public accountants to manage financial and accounting details while you focus on building your business. Visit their website for an overview of their services, or call (636) 926-0502 to make an appointment today.

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