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accounting small business ideas

Accounting Small Business Ideas

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As an accountant, you have the skills, experience, and knowledge necessary to provide service to a variety of individuals and organizations. Whether or not you do so through your own small business is your decision.

Have you caught the entrepreneurial bug? If so, here are several accounting small business ideas to consider:

  1. Bookkeeping. There is no denying the fact that many companies have turned to advanced software for this task. However, there are many that still realize the importance of having an experienced bookkeeping professional at their disposal.
  2. Tax preparation. Individuals and companies alike despise tax season. How would you like to make life a little easier on these people and organizations, all the while earning good money? Tax preparation professionals are in high demand. Almost every individual and business in the United States is required to file a minimum of one tax return. Talk about a market that is ripe for the picking!
  3. Financial advisor. Are you qualified to provide financial advice, along with accounting services? Becoming a financial advisor could be one of the best business decisions you ever make. There are many people (and companies) that require the services of a qualified financial adviser. They need advice and guidance on everything from how to overcome debt to the best ways to save for retirement, and much more.

According to Statista, "revenue of the accounting, tax preparation and payroll services industry in the United States reached approximately $137 billion" in 2013. This number is expected to increase to the $160 billion range by 2018.

While a large portion of revenue is generated by top accounting firms, such as Deloitte and Pricewaterhouse Coopers, smaller operations are in position to achieve great success as well.

The accounting industry is growing. The only question is: will you take the first step in starting a small business in this space?