Things to Consider when Setting up your Own Accountancy Business

If you are a qualified accountant and have been working for someone else for a while, you may now have the urge to set up your own accountancy practice. Whether you want working hours that suit your life better and offer more flexibility, have a way of operating that you think will work well for you or think that you would prefer to work for yourself, it might be time to set up on your own. But before you do there are a few things to think about.

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Where will you be based? Are you going to be working from home to start with, and if so, do you have a good space at home to work from, or would you be better off renting some office space near where you live, or where your clients are based?

How will you operate? Have you thought about any specialist skills that you have that you can bring to your clients, software for IFAs like Intelliflo, and what services you will offer?

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Have you met the legal requirements? To run your own accountancy business, there are some legal requirements that you need to meet, as well as registering your company – it is important to look into this and what you need before you make the leap into setting up on your own.

Will you need any other staff to help you? If so, what hours will you need them to work and how will you go about recruiting suitable staff?

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