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Why Should Start-Ups Partner with an Accountant?

By: kristallis

Actionable-Accounting-How-to-Distinguish-Yourself-as-an-Accountant-s-w313-h180-q75-m1457496774As a start- up, it is crucial that you find an accountant early on who will partner with you to help you and your company grow. If you find an accountant who understands your business, they can essentially guide you in the right financial direction.

Many start-ups come to an accountant too late in the game when big decisions have already been made and significant challenges and costs could have been avoided. What tends to be overlooked by start-ups and new business owners is that an accountant can offer a lot more to a start-up than just monthly reports and running figures.

A good accountant can partner with start-ups and act as an advisor on many business related decisions, which can ultimately be the difference between succeeding and failing. The role of an accountant and that partnership is multi-facet and often under utilised.

What can an accountant offer?

ADVICE

A good accountant will be an advisor to you. They will understand your business and the industry sector you are in. Your accountant will help anticipate the common pitfalls and issues that can and do arise. They will also be able to assist you with your policies and systems.

As an advisor, your accountant’s goal should be to help guide you to grow the business financially. They can assist and advise you on managing your cash flow and budget as you expand and help to ensure you calculate the risks.

Your accountant should be advising you on the correct structure for your business that is specific to your industry, size, growth projection and objectives. Overtime, this structure may need to change and your accountant can advice around timing and planning for this. Choosing the wrong structure can be a costly exercise for any business and should be avoided.

Your accountant should teach you and advise you on how to manage your budget and cash flow, which can equip you with the tools you need to run a profitable business. However, more often than not, in a start-up where you are time-poor, your accountant will be able to hold you accountable for the deliverables and assist you in sticking to your budget.

TECHNOLOGY & SYSTEMS

A good accountant needs to be across the latest technology and systems to help streamline your accounting and financial procedures. In doing so, they can partner with you and educate you on the appropriate software for your start-up business. Any start-up should have the latest technology and systems in place, so that your time and efforts can be streamlined and perform at the highest efficiency. Working in a paper-based environment, is no longer sustainable or efficient in this era. Especially in accounting.

If your start-up booms and you don’t have the correct systems in place to support that massive growth, you can essentially become undone as quickly as you grow. Unfortunately this is a common challenge that start-ups can typically avoid, if they are getting the right advice from the beginning. Just like when a business hasn’t got a website that supports the traffic to their site, if the systems aren’t inherently built for the growth projected, they will inevitably crash.

MENTORING

Your accountant will have experience working with businesses and ultimately seen what works and what doesn’t. By allowing your accountant to take on the role of a mentor, they can offer their first-hand experience and act as a sounding board. Working with someone you trust, who you can workshop the big decisions and ideas with, is invaluable to any business new or old.

Engaging an accountant from the beginning enables you to remain focused on your core competencies and establishing and building your business, while the secondary but equally important bottom line is being managed.

Essentially, the sooner you engage an accountant in your start-up, the more structure and better equipped you will be for growth and risk. It is never too soon to be putting systems, policies and technology into place for your business and seeking the right advice.

Source via Kristallis

About Ritchie Cruz

Ritchie has 20+ years experience in Public Practice, being trained as a Chartered Accountant in one of the largest 2nd Tier accounting firms in Australia. Experience also includes working in management positions in Medium to Large ASX Listed Companies. Recent experience includes working as a Group Financial Controller in medium size business going through the ASX listing process. Ritchie can offer big company management and reporting experience, to small & medium businesses.

Ritchie has a passion for small business start ups, helping clients grow from humble beginnings. See our small business start up page to see how your business can benefit.

Testimonials

  • Zac Fryer

    Director, Import and Distribution Company

    Ritchie Cruz provides and high level of accounting expertise and goes above and beyond in answering any queries we have.

    Read full testimonial
  • Jonathan Yeoman

    Director, Technical Design Company

    This is a new business startup and Cruz&Co. have provided great help, guidance and reassurance from the beginning.

    Ritchie has provided us with excellent service and…

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  • Napoleon Guines

    Director, Travel Company Operations

    Ritchie Cruz and Co are accommodating and have excellent service.

    Cruz & Co have impressed me the most is due to their efficient service.  They are…

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  • Daniel Robey

    I have and continue to recommend Cruz and Co to many businesses and individuals who are looking for a business advisor and accountant that goes over and above…

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  • Vanita Aloda

    Restaurant Owner

    Ritchie Cruz is my Accountant. We have a solid 10 year relationship.

    Ritchie as always provide me with honest and efficient service.

    Is a great communicator, always replies efficiently to…

    Read full testimonial
  • Kellie Pincham

    Director
    Automotive Parts Retailing business

    Cruz & Co offer a great professional and friendly service. Ritchie gave me confidence running the business knowing that he was readily available for…

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  • Jonathan Fambart

    Business Tax – Travel Industry

    Cruz & Co was introduced to me this year and it was the best decision for my sole trader and personal taxation affairs. Ritchie the…

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  • Dr Krish Perananthan

    Cosmetic and Implant Dentistry

    Ritchie was recommended to me by my father and I have also continued to recommend him to my friends. He is reliable, efficient and has a…

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  • Regina Wang

    Business Tax – Beauty Salon 

    Ritchie has been managing my tax matters as a sole trader for 2 years+. Always very responsive to my questions and make effort to reply…

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  • Jae Kwon Yoo

    Business Tax – Electrical Contractors

    Ritchie is awesome. He is very professional and responsive and he is always there to help you. He even replies during weekend. He needs some…

    Read full testimonial

© 2025 Cruz & Co.

  • Home
  • About
    • Meet the Team
    • Our Clients
    • Testimonials
  • Services
    • Tax Consultant and Compliance Services
    • Small Business and Sole Trader Accountant
    • Outsourced Accounting Solutions
    • Business Structure
    • Outsourced CFO
    • Working Visa Refunds
  • Resources
    • Tax Refund Process
    • Client Assistant Schedule forms
    • Downloadables
    • Helpful Links
    • Rental Property Cashflow calculator
    • SMSF Tax Refund Process
  • Contact Us
  • Blog