Starting Up a Small Business (CPA or Accountancy)

Paper Summary:

This paper analyzes and examines issues related to starting up a small business (CPA or accounting firm). It examines step-by-step the stages required to set up an office from reason and motivation, to building a business plan, to necessary office equipment. It also discusses alternatives to setting up a small business such as working freelance.

From the Paper:

"Individuals who decide that working for a large accounting firm is not the right fit for them may decide to work as a freelance consultant or to partner up with fellow accountants or CPAs, and perhaps even lawyers. As with starting up a small business or striking out on your own, there are challenges in partnering with other individuals. For instance, some partners may have different visions about how to bring in and retain business or what areas to focus on. In addition, individuals may have different viewpoints about how compensation should be determined. For a partnership arrangement to work, the partners must agree to discuss the issues in a well-thought out, rational manner which allows for disagreement but also which emphasizes just resolution."

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