Having an independent CA firm might sound intimidating but this gives you the liberty to choose your clients, providing services as per your expertise and increase your performance with more productivity.
After the implementation of GST, CA firms in India have grown rapidly. As GST is a new and evolved nature of the tax system that brings different taxes together, the need to have a specialist in this new tax system has also increased.
The growth of Indian economy and its consistent nature of fitting into the globalized market – makes CA firms more demanded. Plus, it also provides ample opportunities to candidates to opt for CA articleship from these firms.
Following a step by step guide to start a CA firm can help entrepreneurs to establish their venture comfortably.
A few tips to expand your CA firm are –
- Build a network of clients from seniors. It is important to have cordial relationship with seniors as they can provide recommendations for potential clients. This will also strengthen the trust of clients and help you seek better chartered accountant practice opportunities.
- Try collaborating with new partners. New ideas will then be easily incorporated in work and will boost your productivity.
- Participate in conferences and business meetings. This will help you enhance you and your firms’ visibility.
- With the all engulfing GST, you can try and build better engagement with clients through specialising in it. Since this tax system is comparatively new to India, people are yet to get a grasp of this tax system entirely. By specialising on GST you can boost your business even more. Being proficient in taxation is one of the essential qualities of an accountant.
- Introduce new and complementary services to your clients; this will enable you to avail more clients and stay ahead of your competitors.
To run your CA firm smoothly, you may need a lump sum amount at times to make all deals toward profit. Often, investing in your CA firm can open up many potential aspects. Hence, you can opt for a CA loan from reputed NBFCs and avail the required funds.