Start a Bookkeeping Business – How Easy is It?

Starting your own bookkeeping business is appealing to people for a number of reasons and it is quite easy if you find out exactly how to do it. It is a very low cost business to start up. You can start at home with just a small workspace, telephone and printer. It is also quite unregulated in many countries, which mean any one with some knowledge, and experience can use their expertise to start their own business.

Apart form a low cost start up, bookkeeping as a freelancer or contractor pays a lot more per hour than an employee gets per hour. This is a good way of increasing your hourly income with out too much effort. It does mean you need to attract clients and source your own contacts, but this can also be done cheaply with know how.

It will be important to price your services correctly as you need to cover your own insurance requirements and office costs, however with low overheads and an increased hourly rate it is possible for a good profitable business to be created quite easily.

It is also possible for you to continue with employment and work part time in your business. This will give you a sense of security still in paid employment until you have either the courage or the necessary client base to quit employment. This will also give you time to start building a client base or potential contacts prior to giving up paid employment.

Having a bookkeeping business is also popular as it can also be done around your own hours. You may find clients very flexible and accommodating of your working hours. You can work around your other commitments such as family or childrens activities.

Working solely from home is also possible with this type of business. Increasing technological advancements means people do not even need to walk into an office to do their work. There are issues with the source documentation from the business for a bookkeeper to undertake their duties, but this can be over come with couriers or post. Some small business operators only give the bookkeeper their bank statement with the items already pre coded and this prevents source documents being required.

Marketing your services will take time and you will learn some new skills. Marketing, advertising and sourcing clients will be important. Don’t discount the opportunities when you are talking with people to mention what you do. Many bookkeepers agree that word of mouth is their best source of clients.

One often overlooked opportunity is the business card. How many times have you been in a shop and they have needed to order something or contact you when an item arrives? Instead of just writing your name and number, give them a business card instead. It is amazing how many opportunities arise for you to do this. Even if they don’t need your service, someone who does might see your details.