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My aunt has a small business in UAE. At first she handles everything but after couple of months, she told dad that she felt she’s on the busy streets of Manila. What I’m saying is that she can’t handle things the usual way. With that my dad advises her to hire an accountant. I heard their very long conversation and the long talk goes on and on and my aunt end up hiring a part time accountant in Dubai to do the job for her.
Dad told me four reasons why aunt should hire an accountant. Here are they.
1. It is vital to the success of the business
Having an accountant will help you to see the cash flow of the business. You can accurately see if you are earning or start losing money. The backbone of the business is simply money. If you start losing up then you are done! Accountants are born for these specific tasks. So better entrust thins thing to them. They are the professionals.
2. Data analysis for growth and profitability opportunities
If your data is just hiding in the folders on top of your desk and you are not interpreting, analyzing or using it to help drive your business direction and decisions, you are totally missing out on a great opportunity! Your accountant will help you dive into the numbers and use them as your map for growth and success, for profitability in the future.
3. Tax
As we all know, we need to pay our taxes, and not just simply paying it, but paying it accurately. Tax computation is a long and difficult process. It is like entering a dark cave not knowing which way will lead to the exit. A wrong computation may lead to huge penalties or fines and worse case it will make the jail your second home.
To make sure that you are to pay the right taxes, hire accountants. They are well trained for this matter. They studied the course for years. So you are in good hands!
4. You need business plans
There are hundreds of reasons why business fails and one of them is lack of planning. When you asked a business owner why they failed their simple answer is they didn’t know where to start. On this scenario comes an accountant into action. A very good accountant will partner with a business to look at all the data and help build a road map to success. Poor planning isn’t necessary, and bringing a professional on board can help a small business plan for success.
As I understand these four things, I said to myself that when I start my own business someday, an accountant is my first employee.
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TAGS: Accountant in Dubai, Part-time Accountant in Dubai, Filipino Accountant in Dubai
