4 Value-Added Services Accounting Firms Offer Businesses to Grow

1. 4Value-Added Services Accounting Firms Offer Businesses to Grow Processing financial statements is not the core task of your business. Spending hours researching tax compliance laws or to worry about every deduction of your employees’ payroll is the last thing you would have expected when starting your business. The financial aspect of your business can drain your energy, driving you away from the core products and services. If you want to grow your business, it is better to depend on a Manhattan accountant to take care of your finances. Here are some value-added services you can avail by signing up with an accounting firm. Bank financing Applying for a loan with insufficient preparation is a big mistake small business owners often make. This is the reason why many of the applications are rejected, and only a few of business become successful in getting the funding they need. An accounting firm can be of big help here as they help clients in preparing comprehensive loan proposals. If often includes documentation required for the application, business plan, credit report,

2. income tax returns, and bank statements. Accounting firms can also help you prepare for the questions lender will ask. Business valuation Many companies either do not know their company’s worth or believe that they are undervalued. Valuation is important to business success. There are a number of situations you may need to determine your business value, like business disputes, financing, succession planning, business sales, mergers & acquisition or bankruptcy. Business valuation analysis helps you know the true value of your business. Cash flow management As an accounting firm is already taking care of your finances, you can take their advice on an issue of cash-flow. Accounting firms can be an excellent resource for you in a number of ways, like develop cash flow projection, bills, and other key business needs. Business planning Several businesses depend on informed strategies outside their organization to shape their roadmap. If you are also one of them, you can take help of an accounting firm to put your plans and ideas on paper through business plans. It helps you to secure financing and prepare you for a new venture, expansion, buying a competitor or save struggling business. An accounting firm can also help you conduct market research to help you plan your potential moves. When it comes to evaluate and pursue new sources of revenue for your business, an accounting firm can be of great help to you.