Starting an Accounting Firm
After years of success in the accounting business and strong networks built over your experience, you may decide that launching your own accounting firm will be the best decision for you. While the type of work will be similar, there will be a new set of responsibilities that you will need to take on as a business owner, such as finding CPA liability insurance and other preparations that must be made.
Once you’ve decided that you have the qualifications, funding and a reliable pool of potential colleagues or employees to team up with, you will need to get into the planning stages of your business. During this stage, you will likely need to make the following considerations:
Establish your firm as a legal business entity.
Get your firm’s finances in order including business accounting, banking, and tax registration.
Ensure tasks such as CPA liability insurance, business insurance, licensing and permits are squared away.
Market your business to stand out from the competition utilizing local and online resources.
Though starting any business feel like a challenge, it can be rewarding to have control over the type of work you want to do, the talent you want to collaborate with, and the type of clientele you’d like to serve. With the right preparation, you can look forward to making the most out of your talents in your own accounting firm.