As an e-commerce entrepreneur knows, you may start your business alone, but to thrive you need a carefully curated team of advisors. Even if you’re a solo entrepreneur, hiring the right advisors and accountants can make all the difference to the potential your business has to scale.
Whether your e-commerce business has a busy office of employees or is simply a solo venture, you won’t get far without looking at the big picture. While all accountants should be able to help you avoid financial errors, it takes an e-commerce specialist to help you grow your business to its full potential.
What is accounting for growth?
Accounting for growth is a term that is not heard nearly often enough for a fledgeling business. Few entrepreneurs start their e-commerce business with an eye to make some side-hustle money as their final goal. If you are investing time and money into your e-commerce business, you want it to go somewhere. You want to scale your business, so it becomes a profitable and dependable source of income. By accounting for growth, we mean focusing on the big picture; how you are going to get your business to the next stage and beyond.
A modern business
Modern business is moving quickly. Apps, marketplaces and new legislation are appearing thick and fast and should all be used to your advantage. The information can be overwhelming to an entrepreneur, especially if they are working solo. Then there are automation options, workflow design, dropshipping – all matters which can affect your bottom line now and prepare or limit your business’ future growth.
An accountant with their finger on the pulse can assist with everything from app recommendations to e-commerce VAT accounting, stripping back the superfluous information and giving you their clear and bespoke advice.
Accounting for growth with e-commerce fluctuations
E-commerce is a tricky market that requires a degree of flexibility and scrutiny of many moving pieces. It is rarely a matter of simply “selling more”. There are countless variables to examine – the best-selling platforms for your products, competitive price-points, marketing and brand awareness, bringing in new product lines, national or international selling.
Get the help you need
Traditional accountants simply do not have the sector knowledge to know how to support your growth and as such may stifle your business’ ability to grow. E-commerce accountants are specialists that keep up with the trends and requirements of e-commerce business. We can help guide you to make the right financial choices, whether that is finding an injection of capital, switching sales platform or diversifying your stock and market.
If you are ready to discuss the true financial potential of your e-commerce business, contact us today. Our team will be happy to analyse where you are now, and what steps we believe will realise your financial goals.
The best time to act is now.