| Some useful tips on setting up a bookkeeping business
This is some information taken from the pack you will get with your Practising Certificate. The pack contains more detailed information, advice on advertising, where to find clients and sample letterheads, business cards, advertising material and letters of engagement.
Where to find clients
Having been granted the Institute’s Practising Certificate, there are a number of ways in which you can begin to find clients, although obviously none are guaranteed and the level of success you achieve will depend on a number of factors, including the area in which you live, the type of businesses that operate in your area and the general hourly rates for work of this type.
The first is obviously to advertise. (See also Yellow Pages at the end of this document) Look at the classifieds section in your local newspapers. You will need to look at whether there are any other bookkeepers advertising regularly. If there are, then you may find that you have more competition for your business, although this is no bad thing, it just means that you will need to sell yourself, and your professionalism, better than the others do. Adverts from competitors will also give you some idea of the type of services they offer and perhaps even the ‘going rate’ for your area. Undercutting does not always work. Businesses need their books done properly after all.
How much to charge
The most difficult part of starting any business is deciding how much to charge. This depends on a number of factors, including your experience, locality, the availability of other book-keepers in your area and the current financial position of your client. We suggest that you should start by charging between £10 and £18 per hour. In some areas of the country, it is difficult to reach £10 per hour, and some clients expect to pay no more than £8. However, remember you are offering a professional service, and should be paid accordingly.
Use of the Institute Crest
As a practicing member you are entitled to carry the Institute’s crest on all your promotional material.
Put your membership number and the Institute’s crest on all stationery, business cards, leaflets, advertising – and don’t forget your website. You should also put a link on your website to the Institute’s site – speak to James at the Institute if you need help with this. Please note the Institute must approve all use of the crest prior to publication or transmission. Your membership number should appear below all uses of the crest. Please do not position the crest in the top righthand corner of your letterheads because this can be misleading – your letterheads may look too similar to the Institute’s letterheads. You will receive your copy of the Crest on a CD with your Practising Certificate.
We are here to help
Please remember that taking on your first client can seem very daunting. You may inherit a pristine set of books – but it is more likely to be a shoebox crammed full of receipts and bills. Many businesses let their books get on top of them before they look for a book-keeper. Some are prompted by a final reminder from the VAT man. But don’t panic! The Institute is always here to help and it is worth remembering that if everyone was good at doing their own books, there would be no need for your services.
And don’t forget to suggest to any new or prospective client that they should feel free to contact the Institute for confirmation of your qualification and membership.
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Yellow Pages
The Institute has negotiated a special Corporate Advertising Programme with Yellow Pages, under which the Institute will have a corporate advertising block in every local edition of Yellow Pages. As a member in practice you can now have an advertisement inside the block at a special rate, which we understand varies from around £80 to £120 for the whole year. Yellow Pages is a well-known source of good new business and we feel that this corporate scheme will add professionalism to your business – and the Institute. Full details and an application form will be sent when your Practising Certificate is awarded. |
What is it like?
To watch an interview with some of our members talking about working as a bookkeeper click here
The full pack is 9 pages of information to help you get started with your new business. The Practising Certificate also comes with Free technical advice and legal advice so if you have any questions you can call us and we will talk you through it.
Please note: members of the Institute who are self employed must have a valid Practising Certificate and valid Professional Indemnity Insurance. For an application form and further information please do not hesitate to contact us
For a no obligation quote on Professional Indemnity Insurance, click here |
