Home Based Accounting Business

Considering starting your own Bookkeeping or Accounting business? Read on to find out how!

As more and more small businesses starting up, fueled mostly by the recession and exit of jobs, there are many opportunities to be successful providing accounting services for small company owners. As accounting practices get more and more clients, you might wish to work for them on a self-employed basis.

On the basis that you already have the skills, qualifications, knowledge and experience to execute this type of work, following is a list of the things you will need to get started.

An office and desk.

Preferably at home initially (to keep costs down) but may be rented too. A quiet area is ideal and the less chances of being disturbed the better. Having room for storing documentation is a necessity and build in a growth factor too! Each client will require a few files and possibly large amounts of files, documents etc so it may be worthwhile renting some storage space to avoid cluttering your home or office.

If you decide to operate your new business from your home, you start-up costs should be quite low, especially if you already have a desk and computer. However, you must buy professional indemnity insurance at the correct level before you proceed. It is usually against the law of the land to work without this insurance.

In addition to having a reliable computer and suitable accounting software, backup procedures and storage need to be fully considered in case of failure, fire or theft. You should have a good idea of the stationery you will require from your past experience. See to it that this is available for use when your business commences.

A dedicated telephone, fax and email would be useful plus an answering service to avoid missing any clients.

Once done, you are nearly ready to begin. You will need business cards and a letterhead.

The next stage is possibly the most important – marketing. The hardest part for most home based businesses is attracting clients. If you lack marketing skills, learn some or outsource this function if you can afford too.

These methods can be utilized to attract customers:

- By word of mouth. Tell your family and friends you have started a business. Get them to tell their friends.

- Business networking groups can provide clients or referrals

- Have a website created – make sure the designer knows how to plan it so that your potential clients will find you when looking

- You may get some free advertising in local business directories; both on and offline.

- Business associations and forums can be joined

- Seek and join your local business chambers

- A special offer may attract your initial clients and get the ball rolling.

- A referral strategy will help leverage your marketing efforts

Using as many as you can of these techniques will bring you clients. As time goes by, determine which methods work best for you and do more of that! Each marketing tool is like a net or trap. The more you set, the more clients you will catch!
Discontinue methods not producing results and focus on those that do. This can vary from one location to another.

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