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Small and medium-sized enterprises, or SMEs, are the backbone of the Welsh economy, providing more than one third of jobs and employing more than a million people.

Accounting for small business isn’t just about compliance, although of course that’s important – it’s also about strategic advice designed to help them grow. After all, every big company you can think of was an SME once.

The SME you own and operate might be in the process of taking on its first employees, so you need help with payroll. Maybe it’s expanding and you need guidance preparing compelling business plans to win the necessary investment. Or perhaps your management team needs support with cashflow forecasting, budgeting and reporting to enable thoughtful decision making.

It could even be as simple as needing your corporation tax return handled without hassle.

Whatever accountancy services your small or medium-sized business requires, Bevan Buckland is the adaptable, determined finance partner you need.

From manufacturing to technology, and from tourism to environmental startups, our team has experience working with SMEs in key industry sectors across South and West Wales.

We’ve also got a practical approach to tax planning for SMEs, identifying tax reliefs and allowances and advising on business structures that will maximise the amount of cash available for reinvestment while minimising your firm’s tax bill.

Small Business Accountants FAQ’s

How can accountants help small businesses?

Accountants are like the secret superheroes of the small business world. They don’t just crunch numbers, they provide valuable strategic advice that helps businesses grow and thrive. Accountants play a pivotal role in areas such as payroll management, cash flow forecasting, budgeting, and financial reporting, empowering business owners to make informed decisions. Additionally, they are essential in navigating the often complex world of taxation, helping small businesses identify reliefs, maximise allowances, and select business structures that optimise cash for reinvestment while minimising the tax bill.

How to choose a small business accountant?

Choosing an accountant for your small business is an important decision that requires careful consideration. You’ll want to look for an accountant with relevant experience in your industry sector. For instance, Bevan Buckland has worked with SMEs across various sectors in South and West Wales, from manufacturing and technology to tourism and environmental startups. Secondly, you’ll want a proactive partner who takes a practical approach to tax planning and can handle tasks like corporation tax returns without hassle. Finally, seek out an accountant who understands your business goals and can provide a tailored package of support to help you achieve them.

Should I hire an accountant for my small business?

Hiring an accountant for your small business can be a game-changer. As your business expands, financial management can become more complex and time-consuming. An accountant not only helps with compliance but also offers strategic advice to support growth. Whether you’re preparing business plans for investment, managing payroll for your first employees, or navigating taxation, an accountant can provide invaluable expertise and support. Ultimately, the decision should be based on your business needs, resources, and long-term goals.

What accounting software is best for small business?

The best accounting software for your small business will depend on your specific needs and the nature of your operations. There are a range of options available, each with its own strengths. Popular choices include Sage, QuickBooks and Xero, known for their user-friendly interfaces and comprehensive features. They offer functionalities like invoicing, expense tracking, and payroll management. It’s advisable to consult with your accountant or financial advisor to choose a software solution that fits your business best.

Talk to one of our expert small business accountants today so we can find out what you want your business to achieve and start to build a package of support that will help you get there.

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