Own Business With No Practice Experience - Advice Please!

timsmith86

Hi everyone,

I am considering starting a bookkeeping business, potentially accounting for small business however I have no practice experience.

I currently work full time, where I have gained a lot of management accounts experience taking accounts to TB. Also, I am still studying ACCA and have children so am busy. This would be a "side hustle" to begin with to enjoy a bit of extra cash.

I understand there would be start up costs to begin, AAT licence, software, insurance etc., but would anyone have any other advice. Would it be worth, would there be much requirements for bookkeepers or would most small business expect to deal with all tax issues etc and unsure I could commit that time and attention?

Thanks to anyone who could share.

Tim

davealucas

@timsmith86 Assuming you have retained your AAT membership, it is likely you have as you appear to be aware of the licensing requirements, if you log into the AAT website, click on "My Career" and then "Licensed Membership", this area should give you most of what you wish to know.

TablesForce

timsmith86 said:

Hi everyone,

I am considering starting a bookkeeping business, potentially accounting for small business however I have no practice experience.

I currently work full time, where I have gained a lot of management accounts experience taking accounts to TB. Also, I am still studying ACCA and have children so am busy. This would be a "side hustle" to begin with to enjoy a bit of extra cash.

Tim

I'm sure you are aware of the relevant ACCA regulations regarding practising without a PC (have a read ACCA Regulation 8).