Introduction: Why Small Businesses Are a Huge Opportunity for Accountants
As the country recovers from its economic recession, there are tremendous growth opportunities for small accounting practices like yours all across the United States. Specifically, you have the potential to grow by offering your services to small businesses, a growing sector with a significant need for accounting services.
More and more people are going into business on their own, working independently, and freelancing. In fact, FreelancersUnion.org estimates that nearly 53 million working Americans are independent contractors. By IRS standards, these individuals are businesses in their own right, but they may not realize it. This means…
- They might need help with taxes and budgeting.
- They may not realize they have to pay quarterly taxes.
- They need help balancing their books.
And while that market is full of potential, it's not the only one that can boost your business. Nearly 46 percent of small-business owners (excluding freelancers) don't work with an accountant. That's a huge potential market.
46% of small businesses don't work with an accountant.
In this guide, you'll discover ways you can attract small-business clients and tips for ensuring that those new relationships thrive for years to come. Of course, with any growth comes new risk. That's why we'll also explore how to prevent these relationships from triggering professional liability claims. After all, letting opportunity turn into financial disaster just doesn't add up.
Next: Chapter 1: Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers