How to Start a Bookkeeping Business

Your accounting skills and eye for detail can turn natural ability into a profession when you start a bookkeeping business. Bookkeepers help maintain a list of deposits, debits and other financial transactions for an individual or business. Since a bookkeeping business relies on good service, it takes people skills and funding to start a new company.

Instructions

Difficulty: Moderate

Develop an Effective Bookkeeping Business Plan

1. Purchase bookkeeping software that is easy to use, inexpensive and compatible with your computer. The days of writing out every deposit or purchase order are long gone, and there are many software programs to help you get your bookkeeping business started. You can find bookkeeping software on the QuickBooks website (see Resources below).
2. Ask friends, family and colleagues whether their workplaces require auditing or bookkeeping services. Temporary projects can help your bookkeeping business build a reputation and gain references.
3. Engage in creative advertising as you start your new business. Guerrilla marketing efforts, like enthusiastic street teams or handing out coupons in comical outfits, can draw in younger clients looking for a cutting-edge bookkeeper. These efforts can be inexpensive and may create positive buzz about your business in the community.
4. Hire a small, permanent staff at the start of your business. A core group of accountants and financial planners can help to ensure a high level of accountability in early projects.
5. Find accounting and business interns at your local university. These students may be willing to work several days a week to help you with specific bookkeeping projects or general administrative tasks, like filing. With a solid staff of interns, you can get more work done and possibly find a new employee as your business expands.
6. Apply for small business grants through state and federal agencies. Many of these grants are available for entrepreneurs who are working in a growing field or utilizing high-tech solutions. You should seek grants if you are planning on expanding your IT network or creating a trial position within your company.

Tips & Warnings

• Keep your storefront or office simple when starting a bookkeeping business. Your initial expenses should be focused on employee wages, computing equipment and supplies that help organize your bookkeeping information. Inexpensive space can be found in urban enterprise zones or older office buildings in your city.