Online Accounting Service Puts A Stop To Small Business Worries

Hands working on the calculator

Online accountancy service Magic Accounts is helping to put an end to the financial worries that plague many small business owners attempting to go it alone. Statistics show that 50% of small businesses worry about making a mistake when calculating tax payments, and 20% of these businesses experience some difficult in figuring out how much tax they should actually pay. A separate survey by recruitment specialists Robert Half UK found that cash flow was the biggest worry, with 46% of SMEs indicating concerns over their cash flow.

These worries, as well as issues such as growth strategies and general bookkeeping tasks, are hampering small businesses across the country, as they spend more time working out how should be put into HMRC than creating a strategy that will enable them to grow and become more profitable.

Laurence Collins, the Managing Director of Magic Accounts, the part-time accountancy service for small businesses, says, “Many people start their own business because they have a passion for something or have spotted a gap in the market. Having an understanding of tax issues is, of course, crucial, but spending whole days or weeks trying to wrap their heads around tax payments is preventing their businesses from reaching their full potential. Just as these business owners are passionate about their own work, at Magic Accounts we are passionate about helping SMEs to realise their potential by freeing up their time and relieving them of the burden of running their own finances.”

Hiring an online accountancy service to take control of the financial aspect of the business removes all of these worries from the minds of owners. They are free to throw themselves into the running of the actual business without panicking about tax returns or worrying about whether they will have enough cash on hand to see them through the next quarter. Having an accountant on the team, even on a part-time basis, allows business owners to focus on what really matters to their business and get back to what they are passionate about.

Not only do accountants take the reins on issues such as tax and cash flow, they are also highly-trained and experienced in what they do. So rather than fretting about whether they’ve done their sums right, or worrying about a miscalculation on their part resulting in a cash flow deficiency, owners can rest assured that their finances will be in highly experienced hands. Business owners do not need to be great at maths and accounting to create booming business empires; they simply need to learn when is best to outsource and add to their team.