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Are you able to bootstrap without an accountant?
Date: Nov 16, 2020
A video is being shown
Am I able to bootstrap without an accountant as I launch my business?
Helen: “Some people might think that the last spend you’ll want to be making right at the beginning is with an accountant, because you may want to spend on marketing or how you’re going to sell your product, or you have to buy goods or make goods to sell.
These are all really important, but a lot of businesses actually fail in the first year because they have no idea where the cash is.
You need to be invoicing and being paid on time so that you have money coming in to the business and just really being aware of where you are with your finances, and typically finances do take a back seat as it might not be your go to area.
You might be focusing on launching your business and getting it out there whilst shoving receipts into a bag or box. Then you’ll have 12 months of information to deal with, or in some cases where you’re self-employed it could potentially be almost 2 years before you have to submit a tax return. At that point you’re having to go back through trying to remember what you were doing two years ago.
It’s worth just being on top of it from the beginning and having that person on the end of a phone who you can ask a question of.
So for us, no question is a silly question we’re there to help and support you as you launch, as you grow or wherever you are on your business journey.”