As a chartered accountant, they start their career as an apprentice to gain initial experience and then they either work in an auditing firm, set up own practice firm, or set up a tax consultancy firm. Tax consultancy is a primary area of their expertise besides management and financial consultancy for Chartered Accountants. But, then the challenges that they face are gathering and increasing client base and managing finances of the business. So, before you start your firm, have a clear idea of the market and all the problems and issues that are going to appear in the near future.
One of the major challenges that a CA can face is the requirement of fund. This problem can be easily handled with the help of business loan for Chartered Accountants.
With the support of a CA loan, you can:
Use Client Management Software (CMS)
Client Management Software works great for CAs as it helps to manage their clients efficiently. It assists to track clients with inbuilt tracking and accessibility systems, to generate customised invoices with features like automatic conversion.
Expand the practice beyond tax consultancy
Apart from tax consultancy, you can provide management consulting services to your clients. You will be able to practice multiple streams and get a broader clientele for your CA practice.
To know the other factors, read: Tax consultancy: How to increase your clients?
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.