Has anyone successfully restarted bookkeeping business in new area.
I closed my bookkeeping business in September 2010 as was no longer going to do due to having a baby in November. Now situation change and I am a single Mum so need to have an income again.
It was so long ago when I first set up my bookkeeping business 5 years ago that I don't remember best way to go about it.
Would need new trading name as going to become self employed (previously had Limited Company but estranged husband was director of it so will be closing it down)
How important is it to have a website? as I never did my own website before that was done by my husband then, is it easy to do yourself or better to pay someone if it is an important thing.
Is it still necessary to register for Money Laundering? (been out of the loop not bothering to keep up with the world of bookkeeping as originally going to be a Stay at home Mum)
Are those breakfast social business meetings a good way to gain clients, never did go to one because not very confident but since becoming a Mum have had to go to baby groups and got used to talking to new people so think I could probably manage it now.
Has things picked up at all since the recession, is it easier to pick up new clients?
I think that things have picked up dramatically since the change of government last year. Also we were given another little gem this morning in that HMRC is going after all the people who set up EBAY shops so I'm expecting an influx of worried day traders imminently!
I've seen no real evidence of Dalbir's point (2) about competing with offshore bookkeepers.
I know that some accountants do outsource some work to offshore entities but actually losing work directly to offshore is something that I've not really encountered for small to medium sized businesses which is largely the market that we support. And personally I cannot see Joe Bloggs plumbers packing their books off to Mumbai.
I suppose that cloud offerings are borderless but whilst the clients may be happy to do their books online I think that they still want a local bookkeeper who they can turn to rather than a faceless entity that they will not be able to get face to face help from.
Maybe I'm an ostritch with my head firmly stuck in the dirt (it is ostriches and not Emu's that do that isn't it?) but I don't think that the traditional business model of local bookkeepers will be threatened by offshore offerings.
Although, must admit that I do emphasise in my companies blurb that bookkeeping will only ever be performed by UK based qualified bookkeepers, accountants and PQ's which I think is a strong brand selling point.
In banking (my day job) people are choosing to move to banks that do not outsource reversing the trends forced upon people over the past decade.... However, I will admit that even though front office support is coming back to the UK, back office which customers don't see is still currently being offshored.
Good luck with the relaunch Alison. Doing the same myself from the start of August... Hope you're not in Staffordshire or we'll be fighting over the same clients.
If we are bagsy the limited companies.
kind regards,
Shaun.
P.S. sorry forgot. Websites are easy but quite time consuming to build. I use Namesco and their Sitemaster software. Will cost about £60 per year VAT inclusive.
I don't think many people gain business directly from their website but rather it's somewhere to point interested parties that you meet at networking events to in order to get a better idea about your business.
I would classify a website as nice to have but not essential.
-- Edited by Shamus on Friday 1st of July 2011 10:58:36 AM
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Haven't been on here for a while, but reading the above post, I am sorry to have to disagree with you Shamus, then that's what forums are for. I get aprox 60% business from my website being on google and 10% word of mouth/ 20 % repeat customers. If it wasn't for my website I think my business wouldn't do so well.
Just my opinion, this year I have been really trying to push my business, it is hard as I work full-time. Hopefully one day I will be working from home.
oh sorry alison, good luck with your business, re website I used 123 reg and purchased the domain and built my website myself, would say if you are pc literate and good at writing things up and used to word processing programs etc you should be able to do the website yourself. Does take hours and hours but should be able to build up over time.
don't ever worry about disagreeing with me. Where would be the fun in a site where everyone agreed with each other? I think espechially in relation to the finer points of tax rules disagreement and counter agrguement are particularly important. We seem to have hit the right balance on this site in that people don't just disagree but quote the specific rule, page, website where they get their information from. And people don't ever simply belittle a comment or the person making the comment which does happen on some other websites.
When it comes to websites it's always going to be a contentious area and I think that it's better to expect the worst scenario and be pleasantly surprised than sit back assuming that the website will bring the punters flooding in which in many cases it doesn't.
I don't think that it would ever be wise to adopt a business model that depended upon a website and yellow pages entry. You have to get out there and get yourself noticed so I'm a strong advocate of startups joining business network groups such as BNI.
Just my opinion (I've got loads of them). And disagreement is more than welcome,
talk later,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Can't believe they brought in yet another act, probably just so Inland Revenue make more money from those not registered a professional body. Might have to rethink things as don't think much of ICB or IAB, I was hoping that the government had finally seen sense and scrapped money laundering and making bookkeepers pay a fee to operate, they could not justify it when I complained through my MP who admitted that they voted on it not really understanding the consequences.
Maybe I will do AAT course whilst on income support (don't have to be looking for work if single parent with child under 5) as you get help towards studying costs then once passed think about starting up.
Just a quick thought - those baby groups that you've joined, worth mentioning to the other Mums that you're going to be starting up. Strangely I've picked up some work through this route, as there's often people whose husbands/partners are self employed and need help with their books/self assessment etc.
Google Sites do a free webpage which is worth looking at. You can also have email addresses attached to it as well as google analytics so you can see how it's being found and where people are looking at it from.
I agree very much with Helen about parent networking. One of my clients is a school parent.
I personally haven't bothered with a website, purely because I have been too busy to sort one out! I advertise in a local business mag and I have to say 90% of my business has come from there and the other is word of mouth and getting in with a few accountants. NEver done a breakfast club as got to get youngest off to school so not suitable, but I heard in the long term the are good. Network with Accountants' practices thats where you will really score. Also I think it depends where you live, I live in an area where there are loads of small businesses and I don't have much competition, the accountants don't want the bookkeeping and I have one other main competitor who I know quite well, but me personally it takes a while to build and now I'm drowning in paperwork and last month I even considered subbing some work out. Although in the end just worked night and day to clear some of it!
Good luck with it all, by the way what did you have in the end?? Boy or Girl?
Just a quick thought - those baby groups that you've joined, worth mentioning to the other Mums that you're going to be starting up. Strangely I've picked up some work through this route, as there's often people whose husbands/partners are self employed and need help with their books/self assessment etc.
Slightly different line of networking!!!
Helen
It's informal networking, as opposed to anything organised by 4N or the Chambers of Commerce, and it's really just an extension of telling all your friends and family, posting on Facebook, etc..
My children are in the process of passing through junior school and when parents stand around, get talking, etc.., it can be an effective way of getting business.
My very first (and now oldest) client was through talking to a mother at nursery. I was doing part-time temping at the time and she was working nights on the ward and setting up a care home, I mentioned I knew about book-keeping and I've not only been doing her books ever since but also help with all the admin too for her now two care homes a 27 year relationship, I actually sub out the book-keeping to a friend now but still do a day a week on her admin. Do yes the "school playground" is a good source of networking.
Hi all, I am ready to start a business on my own now. I am very happy for all you said, i have just finished my level 3 computerised bookkeeping and payroll with sage line 50. i will like to learn more about how to building up website. like Alison i hav three kids under 5. Is it a must that i should register with Money Laundering? and what other organisation should i register with apart from IAB, before i can practise
In relation to targeting mums for business, there is an accountant on Twitter @amyaccountant who does this. Might be worth looking her up or other accountant mothers to create a 'both bookkeeper and accountant (doing the work you don't want to/can't do) are mums' proposition. Lots of mums have businesses after all.
-- Edited by Dangermouse on Thursday 16th of February 2012 11:13:07 AM
