The Best Account Companies in the UK

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best accounts companies

The finance industry can be divided into several smaller sectors. These include financial planning; banking; investments and pensions; tax; and accounting. In this article, we look at the latter, and how you can get involved in the sector by joining one of its best franchises.

Accounting relates to the organisation and creation of financial statements that detail the expenditure and income of a company or individual over a specific period. This can be for the purpose of carrying out a business audit; reviewing its financial wellbeing and making sure its financial reports are accurate.

In the accounting sector, 58 percent of revenue is generated by accountants undertaking external audits audits of companies that they are not otherwise employed by. Internal audits, on the other hand, refer to business reviews that are completed by accountants that work within the business, and are less common. Obviously, in-house accountants are not likely to be completely impartial, so internal audits are usually just used by the company itself to review its performance and set new targets.

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Accountancy Sector Statistics

The accountancy sector as a whole generates a revenue of £5.5 billion, and this is set to increase. According to IBISWorld, the sector has experienced an annual growth of 3.5 in the last five years, and there is no reason to expect this to diminish. This is a sector that deals with huge quantities of capital; the 100 biggest accountancy businesses made a combined income of over £14 billion in 2016-17. But, shockingly, 75 percent of this figure was generated by just the top four companies in the category (Accountancy Age).

The sector also employs a large number of people. According to Oxford Economics and CCAB, more than 613,000 people held accounting roles in the UK in 2017, 432,000 of which were in-house accountants.

The Best Accounting Companies

If youd like to join a thriving industry that looks set to expand even further and help businesses achieve their financial targets, you should consider becoming a franchisee. By doing this, youll be able to take advantage of an established companys tried and tested business strategies and ongoing support. Lets take a look at the best accountancy franchises out there.

TaxAssist Accountants

One of the best accounting franchises out there is TaxAssist Accountants. It provides finance professionals to clients across the country, offering a range of different services, including bookkeeping, business plans, payroll, employment law, year end accounts, pensions and debt recovery.

The forward-thinking franchise has tried to distance itself from the traditional bookkeeping businesses that have lined our high streets for decades. Having created a striking brand identity with blue and yellow colouring, TaxAssist Accountants can reassure clients that their finances will be handled with professionalism and expertise.

There are now more than 200 franchised regions in the UK that are covered by the TaxAssist brand, which are home to a combined total of more than 71,000 clients. TaxAssist Accountants has been around since 1995, taking advantage of a gap in the market by providing its services to clients with a turnover of less than £2 million.

By joining the financial services firm as a franchisee, you can get involved in a huge range of varied tasks, such as managing profitability, arranging marketing campaigns, providing customer service and networking. You will be able to enrol onto a six-week training course to hone your skills and get access to the franchises technical helpdesk, webinars, masterclasses and update days for you and your staff.

Whats more, you wont be alone in starting your business. The franchisor will offer support with site selection, lease negotiation and acquiring planning permission for renovations. But it doesnt end there theyll also be right behind you as you recruit staff and organise the big launch day. Youll get all this for a minimum investment of £30,000.

Certax Accounting

If youre interested in financial services, another possibility for you is Certax Accounting. Like TaxAssist Accountants, it provides help with routine bookkeeping, accounting, auditing and company secretarial requirements.

The great news is that this national accounting franchise has been welcoming and training up franchisees since the turn of the millennium. That means it has plenty of experience when it comes to expanding its business. Today, there are more than 100 franchisees spread across the UK, and you can join them for a minimum investment of £11,750.

Certax Accounting offers franchisees the choice of three franchise packages: the Bookkeeping package (£9,995 franchise fee), the Full Accountants package (£21,750 franchise fee) and the Qualified Accountants Package (£11,750 franchise fee). The one you choose should depend upon your level of experience and the services you intend to provide.

Brokerplan

Finally, Brokerplan is one of the UKs most trusted finance advisory businesses. It has been helping clients since 2004 and specialises in a number of different areas. Short-term finance; residential, commercial, self-build and international mortgages; development funding; personal and business insurance; pensions; equity release; overdrafts; and asset finance all fall into Brokerplans portfolio of services.

You can provide clients with expertise in all these areas for a minimum investment of £5,995. This is a relatively affordable franchise opportunity, especially considering that you could stand to make over £150,000 in revenue after the first two years.

Brokerplan franchisees can benefit from the business case tracking software, which helps organise client projects, and their own website to market their services to potential and existing clients. When you first join the company, youll gain access to its full business launch package, which provides you with professional email addresses, as well as business cards and important documentation. It is this high level of franchisor support that enables new recruits to flourish under the Brokerplan brand.

As you can see, there is plenty to gain from joining an accounting franchise. To discover more profitable companies or browse franchises in the general sector of financial services, just click here.

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