7TH SEPTEMBER, 2018

5 Ways To Grow Your Accountancy Practice

In an increasingly competitive market, it is vital for accountants to find new ways to grow their practices and stay ahead of the competition.

Growing your accountancy practice might seem like a difficult task, but it doesn’t have to be. In the article below, we outline 5 ways to grow your accountancy practice and find new business:

1. Automate Processes

Automation saves time and enables you to take in new clients. Choosing the right accountancy software is therefore essential to any accountancy practice looking to save time in its processes. There are many solutions in the market, so take some time to compare their functionality and time-saving features.

2. Be Unique

When businesses and self-employed prospects are looking for an accountant, they have to make an important decision. They might look for accountants that deal with a certain type of business or perhaps a practice that is locally based. However, with the increase in cloud accounting and other collaborative tools in the cloud, clients can now choose practices based anywhere in the country.

Many accounting practices look very similar from the outside (many even use the same corporate colours). Make sure you stand out from the competition with your brand identity. Becoming distinctive, choosing the right marketing strategy or going after a niche can help you gain new clients.

3. Connect With Your Clients

Having a close relationship with your clients will increase your ability to gain new business and obtain relevant first-hand information through which you can generate ideas to improve your practice and listen to your clients’ needs.

You can keep in touch with your clients by scheduling regular meetings with them and participating in events and networking sessions, but don’t forget about the possibilities that the digital world offers.

For instance, consider writing a blog to let your clients know about changes in legislation that will affect them and the services you offer in your practice, which will also increase the online visibility of your website. You can also repurpose this content as social media posts to reach a wider audience.

4. Find New Talent

Find employees with good technical, client service and advisory skills. Finding and retaining employees with the right skills will be one of the most effective ways of remaining competitive in the next few years. If finding the right qualified recruit seems like a difficult task, consider the flexibility that recruiting an apprentice can offer.

5. Offer New Services

As the accounting profession moves towards more automated processes that free up time for accountants to take up new projects, it is becoming essential for accountants to start offering new advisory services. Clients are starting to ask for a more personalised view of their companies’ finances, and new small business owners want to be advised on the future of their start-ups and how to grow their companies.

Consider offering new services such as R&D Tax Credits. Working with partners such as Tax Cloud makes offering new services much easier and without adding stress to an already busy workload. Simply refer the client and claim a referral fee. It’s that simple. Partner programmes are a very popular approach for Accountancy practices, just make sure you choose an R&D tax relief specialist that is personable, knowledgeable and professional.

Would you like to know more about how we can help you grow your accountancy practice? Contact us today.

Are you an Accountant or Financial Controller interested in more information on R&D Tax Relief?

Click here to download our free eBook - A Practical Guide to R&D Tax Relief For Accountants

Barrie Dowsett, ACMA, GCMA
Author Barrie Dowsett, ACMA, GCMA CEO, Tax Cloud
Latest posts
2ND NOVEMBER, 2018 How To Know If Your Business Is Entitled To R&D Tax Credits
25TH OCTOBER, 2018 Why Isn’t The Agricultural Industry Claiming R&D Tax Credits?
10TH OCTOBER, 2018 Is Your Business Eligible For R&D Tax Relief?
3RD OCTOBER, 2018 The Most Common Mistakes People Make With R&D Tax Credits
18TH SEPTEMBER, 2018 #1 R&D Tax Claim Portal ‘Tax Cloud’ launches Xero Integration
14TH SEPTEMBER, 2018 What To Look For In An Online R&D Tax Credits Claim Portal
7TH SEPTEMBER, 2018 5 Ways To Grow Your Accountancy Practice
31ST AUGUST, 2018 Common Pitfalls To Avoid While Claiming R&D Tax Credits
24TH AUGUST, 2018 How Far Back Can I Claim R&D Tax Credits?
17TH AUGUST, 2018 Should I Use a Specialist or My Accountant For My R&D Tax Credits Claim?
27TH JULY, 2018 3 Things To Consider When Making An R&D Tax Credits Claim
13TH JULY, 2018 R&D Tax Credits – Don’t Fall Through The HMRC Trapdoor
25TH JUNE, 2018 Tax Cloud Shortlisted for Innovation of the Year
8TH MAY, 2018 Visit us at Accountex 2018, London eXcel
30TH APRIL, 2018 Benefits of A Self-Service R&D Tax Credit Portal
13TH MARCH, 2018 R&D Tax Credits Platform Tax Cloud Celebrates 100 SME’s Seeking Expert Support
5TH FEBRUARY, 2018 How R&D Tax Credits Can Help Your Startup Grow
29TH JANUARY, 2018 Getting the Best Returns From Your R&D Tax Credits Claim
22ND JANUARY, 2018 Introducing: The Tax Cloud Partner Programme
18TH JANUARY, 2018 What Costs Can You Claim Through R&D Tax Credits?
9TH JANUARY, 2018 Common Misconceptions About R&D Tax Credit Claims
13TH DECEMBER, 2017 Tax Cloud at FinTech Connect Live 2017
5TH DECEMBER, 2017 R&D Tax Credits Made Simple For Small Businesses
4TH DECEMBER, 2017 Innovate UK Launches £50m Innovation Loan Pilot Scheme
3RD DECEMBER, 2017 Video Games Tax Relief Scheme Extended
20TH NOVEMBER, 2017 The 3 Things You Need To Consider When Making An R&D Tax Credits Claim
Popular Tags
Start your Tax Cloud claim now Discover if you qualify and ensure your R&D tax claim is maximised. Get started
Powered by

Myriad Associates helps businesses maximise tax reliefs and secure R&D grant funds. We specialise in R&D Tax Credits, Video Games Tax Relief, Innovate UK grants, Horizons 2020 grants, and Research and Development Capital Allowance Claims.

  • Submitting R&D tax claims since 2001
  • 100% success rate
  • Over £100m claimed and counting
  • Industry leading specialists
  • In-house technical, costing and tax experts
  • Member of the Research and Development Consultative (RDCC) committee

Meet some of the team behind Tax Cloud

Barrie Dowsett ACMA CGMA Chief Executive Officer
David Farbey MA, FISTC, FRSA Senior Technical Consultant
Deborah Chapple ATT Corporate Tax Senior Associate
Lauren Olson MA, MISTC Technical Consultant