Start-Up Your Company with an Accountant
Many entrepreneurs believe not having access to creative tools, software and space is the biggest obstacle to getting a business off the ground. According to Forbes, lack of capital is the biggest reason why startups fail. Having an accountant on your team right from the beginning can make the difference between success, and having to start over.
Contrary to popular belief, most accountants don’t just file taxes. When starting a business, the entrepreneur is typically the company’s only employee. This means running day-to-day operations, marketing, networking, and many other roles. Which leaves little time to manage the finances. Keeping the books and records up to date is vital for the success and growth of a business. Accurate books and records, along with timely financial statements are key to raising capital. As an added bonus, investors love seeing an accountant on the startup team.
Another benefit of partnering with an accounting firm that specializes in working with startups and entrepreneurs is tapping into their network of potential investors, business relationships, and entrepreneur resources. The St. Louis startup ecosystem is rich with hubs of activity from incubator spaces to accelerator programs and resource communities.
Resources such as the Cortex Innovation Community make St. Louis a vibrant and growing entrepreneurial scene. This community, formed in 2002, is home to a 200-acre innovation district located in historical Central West End and southeastern Forest Park neighborhoods. Surrounded by cultural and recreational resources, the community allows users to capture the commercial benefits of university and regional corporate research for St. Louis. With an abundance of opportunities, and companies like TechShop coming to Cortex next summer, St. Louis entrepreneurs have all the tools to create their dreams.
With the many resources available in St. Louis, the lack, or mismanagement, of capital shouldn’t be the reason your startup doesn’t succeed. Bring an accountant to your team and watch your company grow.