New businesses have many accounting needs that are often overlooked. Many new business owners may not think to contact an accountant until they are already in operation. An experienced accountant’s support in developing a business plan, wealth of financial knowledge, and access to resources is necessary to the foundation of a new company. Whether you are a first time business owner or a seasoned entrepreneur, a dedicated accountant can provide a much needed service to a business owner as a consultant, offering critical financial advice and aiding in several crucial business decisions before a company begins operations. These decisions can range from choosing an entity type, financing the company, hiring key personnel, and record keeping. Additionally, a knowledgeable accountant can work with your attorney to ensure that all tax issues are properly addressed in your legal documents.
90% of startups fail within the first five years.* By checking each and every box in the correct order on an ideal startup timeline, your business will have a greater chance of succeeding. It has also been found that an entrepreneur who does not ignore anything has better odds of lasting longer than five years. Initial financial needs cannot be ignored. Let us provide you the tools and resources to help you reach the top 10%.
Partyka & Company, P.C. can assist in setting up your new venture and putting the appropriate processes into place from the start. Our team can help you to choose your tax entity type, work with your attorney to address accounting and tax issues in your legal documents, assist with decisions regarding funding, software, key personnel hiring and business process setup. This will lead to having a solid financial foundation while you begin to grow the roots of your company.
Our firm has decades of experience with several startup businesses in a variety of industries, and has assisted in developing and evaluating their accounting systems and procedures. We offer guidance that goes beyond accounting because we are professional advisors eager to help you grow your new business. Contact us today.
*Forbes. January 16, 2015. http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/3
