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Setting up MIP

Richardc1994Richardc1994 MAAT, AAT Licensed Accountant Posts: 11
Hi,

I am currently completing AAT Level 4 and hope to be finished by June. I have a goal to set up my own practice on the side of my current job which I work in finance for a telecoms company. Recently I attended an AAT Be your own boss seminar which gave me a lot of insight into this area.

I have just turned 22 and the problem I have is that I am not sure if clients favour more 'experienced' accountants to do there work. I feel as if potential customers might not feel as 'safe' as they would with other professionals because of my age.

Has anyone had any experience with setting up a practice or trying to acquire clients and came across the same problem?

Richard

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    I was classed as a young accountant. I started my own practice aged 23. My time in life meant maybe I had more experience than others not necessarily in practice but in general life. I moved out with my girlfriend aged 16. Bought our own house at 18 and also got married. At age 23 I had three children too.

    I do look younger than my age as well. Without going into great detail (see some other posts of mine for that) it has not held me back. I now run a successful practice with 2 members of staff and just recruiting a third and I've just turned 30.

    I did get plenty of experience in a small practice doing a varied role for a vast range of clients. This set me up well with some great experience to take forward.

    Good luck
    Regards,

    Burg
  • Richardc1994Richardc1994 MAAT, AAT Licensed Accountant Posts: 11
    I agree, I think as long as you feel confident and you are competent you can carry out the task in hand it shouldn't be a problem.

    Given the feedback I am probably going to look into some voluntary work in a local practice before I pursue this any further.

    Burg - what age were you when you first started working in an accounting practice before you set your own up?

  • Lucy_MLucy_M Feels At Home Registered Posts: 136
    Personally I have found that you can never satisfy everyone. Some clients will value your youth and enthusiasm, some would prefer more experience. I am not a suit and tie type and I can tell when I meet some prospective clients that that is what they want, it used to bother me but I'm not willing to be someone I'm not and most of my clients like my less formal approach. It's their choice at the end of the day.
    Get some more experience and then you can be confident with what you can offer.

    Good luck :)
    MarieNoelle
  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    @Richardc1994 I did bookkeeping and incomplete records to basic TB for a bookkeeper in the evenings from around age 19. This training later proved invaluable as when I joined a practice I already had the basics sorted. I was working in a different role unrelated during the day at this time.

    I then got a role in a practice just after turning 21 and left aged 24 almost 25. Most of this time was on incomplete records again but doing full accounts production and tax. A good small practice where I got an involvement in many different areas.
    Regards,

    Burg
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