Hi Everyone, I was wondering if everyones businesses are picking up! I know its the busy period anyway for alot of people but have people seen an upturn in new business??
I was quiet in Oct and Nov and was heavily advertising and hoping to get some phone calls, but didn't get any. Now all of a sudden I have picked up 3 new clients in a week! One of them I have been working on for about a month and now it is mine but the other 2 were totally out of the blue!
I have also picked up on top of that a one off typing job for someone whos written a book and wants it typed up ready to go to the publisher.
So hopefully this is a sign of things to come for 2011 with abit of luck!
cheers
-- Edited by Amanda on Thursday 13th of January 2011 02:14:23 PM
I've not had any more business over the last few months. I've a few regular clients, but I find that most of my work comes in during April when people get their tax returns sent through. Last April I had 5 new people ring me out of the blue in the same evening, just a shame that they will only be once a year due to the size of the business.
Hello, In the short time that Ive visited this forum the thing that stands out is the sense of community. So, I was interested in Amandas enquiry about current trading prospects.
It must be heartening for those who are gaining clients in the midst of such a severe countrywide economic downturn. There are surely many however, who are unable to share in this good fortune. Recent figures on business start-ups suggest that failures are still too high compared with new ventures failures in 2009 were the highest since records were initiated in 2000.
It is evident that the South East, unsurprisingly, is faring best as this is the most vibrant part of the economy and has most of the faster growing Service Sector. It would be interesting therefore to take a straw poll of members of the forum to ascertain where the winners are located.
That wont tell the whole story, of course. There are going to be successes against the trend that can be attributed to superior marketing, specialised knowledge and various other competitive advantages. One also has to factor in the increasing number of people entering the self-employed field of bookkeeping. It has now become, thanks to the introduction of computerised accounting programmes, an easy in, easy out profession.
It is well nigh impossible for a trader to ascertain in advance whether a bookkeeper is sufficiently qualified to do the job. By definition, a small trader doesnt need to spend large amounts on a bookkeeping service when all that is required is a tidy set of accounts that can be approved by HMRC. At the earliest stages of a business a trader will probably be able to keep personal control of Debtors/Creditors and the bank situation. Labour/Material costs are probably under direct control of the proprietor too.
Its only when the business gets harder to control that the importance of a higher qualified bookkeeper becomes crucially apparent. By this time costs need to be analysed in more detail, Sales trends must be identified, Cash-flow forecasts become essential, and the bank wants more detail about day to day activities and monthly reports if loans are involved. Asset management becomes an exercise in itself and tax planning a bit more complex than taking a few liberties with the expense declarations.
Dealing with a company of more complex dimensions demands a different approach. There is more likelihood that an outside bookkeeper has to spend more time on the clients premises. There are possibly more HMRC returns to submit (eg CIS), Payroll becomes a bigger (weekly) issue and credit control discipline determines the survival of the firm.
I wonder how many in this community are seeing this kind of outsourcing growing, how much more complex and demanding the range of tasks. And probably crucially, how many are moving into the realms of direct competition with high-end Accounting Practices. If this trend is truly established it raises the level of practical skills and widens marketing opportunities available to bookkeepers.
