As we know in today’s world the competition between companies is at its peak level. So it is very difficult and we can say a challenge for small business to survive in the market. Also small businesses generally own  less human resources and less technical capabilities to compete with large brands. They need a pillar that can support them in growing their business . Chartered accountant can help your small business succeed with the help of their knowledge, skill and expertise can do this.

They can analyze the threats and opportunities for business through their extensive knowledge in areas of accounting, taxation, auditing etc. With the help of understanding demand and supply they can easily convert the threats into opportunities. Many surveys state that whenever a small businessman needs advice, the person whom he trusts the most is chartered accountant.

Chartered Accountants can Save Your Money

A Chartered accountant can help a small business to succeed

• Providing Advisory services

Chartered accountants with their deep understanding of the subject of tax and finance can guide and help small businesses to choose the best option available. They can also provide the best advice for the payment of taxes and the various rates and taxes applicable in India.

• Saving time and money

In small businesses, most of the responsibilities and duties are on the owner’s shoulder.  So their chartered accountants help them to meet their legal obligations and provide the best possible knowledge .This helps them to save their time and invest their precious time to make profits.

• Assurance of the business

When a chartered accountant comes to your business, you feel secure that your business is in safer hands. Because a CA has deep knowledge of finances, he can invest the money in the best possible place and at the right time. It reduces the risk of losses in the business.

• Helps the business to expand

A Chartered accountant advises the small entrepreneur whether it is the right time for them to expand, diversify etc. by analyzing the market potential demand and supply. They can help to grab the wonderful opportunities that can help their business to reach high level and become profitable.

• Providing aid in obtaining loans and finances

As we know the whole documentation and paperwork of the business is in the hands of the chartered accountant. So they will be aware of the business’s income and expenses . That’s why they can provide the best advice to obtain a loan at the right rate of interest.

• Computer proficiency

Generally, small businesses do not have knowledge and availability of complicated and large software which are required for them. At that time, chartered accountants who have great proficiency and availability of this software can help them to increase their earnings .This will help to expand their market share.

• Helps in problem-solving

A chartered accountant can solve problems by analyzing the problems, finding the solutions available and choosing the best alternative solution. This helps the company to fix its issues and focus on profit maximization.

In conclusion, we can say that chartered accountants play a significant role in the growth of business. Their expertise in the area of finance, business and guidance helps the small proprietors to remove the obstacles in the path of success.