We all know that your business needs capital to operate, grow and turn a profit.

And we also know that private investors, bank loans and pre-agreed bank overdrafts are common ways to bring more capital into the business, or to extend your available funds.

What alternative routes are available for finding the capital injection you need?

1. Reward-based crowdfunding

Reward-based crowdfunding involves raising funds by pre-selling products or offering tiered rewards to a large online community. Platforms like Kickstarter allow you to secure upfront capital without diluting ownership or taking on debt. It’s particularly effective for validating market demand and building a loyal customer base before a full launch.

2. Government and corporate grants

Grants provide non-dilutive capital that requires neither repayment nor equity. Many national governments, NGOs, and corporations offer these to support innovation, sustainability, or social impact. While the application process is competitive and requires rigorous documentation, successful grants provide ‘free’ capital that can fund research, development, or specific expansion projects.

3. Invoice factoring

If your business has a B2B model with long payment terms, invoice factoring allows you to sell outstanding invoices to a third party at a small discount. This provides immediate cashflow to cover your operational costs instead of waiting 30 to 90 days for client payments. In a nutshell, factoring turns your receivables into usable capital.

Working with you to open up new routes to funding

If you’re looking to boost your capital, come and talk to our team about the best ways to access funding and bring your business goals to life.

 

The following content was originally published by BOMA. We have updated some of this article for our readers.

14 things you didn’t know an accountant could do

Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue. They’ll also remove or automate administrative tasks that distract you from your core business. Get an accountant and you’ll run your business with more clarity and confidence.

So what does an accountant do? The question is what don’t they do.

1. Launch a startup

Starting a new business can be exhilarating, but it takes more than a good idea. You need to know it will make money – and you need to convince investors and lenders of the same thing. An accountant can do that for you.

They’ll help test your idea, identify your startup and operating costs, and create credible revenue forecasts. They also know which lenders are playing ball at any one time, so you can approach the right people for finance. Plus they’ll work on your pitch, so you’re ready to impress those lenders.

2. Help with business strategy

There are so many moving parts in a business. Sometimes it’s hard to know where to focus. Accountants can help you figure out what’s important.

They’ll work with you to set goals – personal, professional and financial – then give you tools to measure your progress. You’ll end up with a set of key performance indicators (KPIs) that tell you how your business is doing.

If you have accounting software, your accountant will set up dashboards that allow you to check your KPIs at any time of the day or night. And if things aren’t going as planned, what does an accountant do then? They’ll help you troubleshoot the issues, test solutions, and reset your KPIs as needed.

3. Fix your cash flow

Many profitable businesses fail because they run out of money at the wrong time and can’t afford to pay suppliers or staff. Even a highly active business won’t last long if payments are slow to come in, or expenditure is too high.

Accountants know that revenue ebbs and flows, and that costs do the same. They’ll help you predict the effect on cash flow and come up with strategies to manage the situation. They’ll organize cash reserves and come up with a spending plan that ensures there’s always money in the bank. It’ll make payday less stressful, supplier relations easier – and sleep deeper.

4. Listen and support you

Being in business is tough. It can be lonely, too. When things seem too hard, and you start thinking about the cozy 9 to 5 you left behind, a top accountant can keep your head in the game.

They know how much your business means to you. They can reassure and reset you on your journey. And they’ll help you cope with stress by breaking down big business problems into manageable parts. Giving moral support is an important part of what accountants do.

5. Manage your debt

There’s good debt and bad debt. Your accountant can help you tell one from the other. They’ll find the least expensive borrowing strategies for your business – with the right mix of repayment flexibility and low interest. If you need refinancing, they’ll take care of that too.

Accountants will also advise when spare cash should be used to pay back loans, and when it should be reinvested in the business. They’ll do that by considering the numbers behind your business and looking at how your debt’s structured to develop a specific strategy for you. It’s not just blanket advice.

6. Deal with unpaid invoices

Unpaid invoices are a fact of business. Chasing those debtors is a distraction you don’t need, but you can’t afford to ignore the problem. Your accountant can take the headache away.

They can set up invoice systems that send automatic reminders to customers when their bill is due and/or overdue. Some accountants will even call businesses that don’t respond to emails.

If invoices remain unpaid after this, your accountant can arrange invoice financing – where a business will buy your unpaid invoices from you and chase the payment themselves.

7. Write and pitch loan applications

Applying for a loan is both an art and a science. A good accountant will do more than just pull together your numbers. They can help you craft a compelling story.

Lenders obviously need to see solid financials and credible forecasts, but that’s just the beginning. An accountant will tie it all together in a presentation that sells the wider vision for your business. There won’t be any spreadsheets. You’ll be armed with graphs and charts that visualize the numbers – allowing your lender to literally see the opportunity. And they’ll use powerful forecasting tools that loan officers trust.

8. Budget smartly

Detailed budgeting can eat up a lot of your time and energy. As a result, many businesses end up working off a vague set of numbers that are full of assumptions and estimates. Your accountant can help you produce a rigorous, accurate budget that gives you real confidence. You’ll know the real cost of doing business. You’ll know how much money you can reinvest. And you’ll know what you can pay yourself.

9. Get you staffed up

Need hired help, but not sure where to start? Your financial advisor can step in here too.

What does an accountant do to assist with your human resources?

10. Set up your cloud accounting software

Your accountant will automate a lot of your business’s accounting so that sales and expense data flows directly into your accounts. They’ll also set you up with invoicing systems that tell you what’s been paid and what hasn’t. Smart software will even send reminder emails to clients who haven’t paid so you don’t have to.

There are dozens of other automated systems they can implement for you, such as:

• • cash flow dashboards, so you always know where you stand

  • KPI tracking, so you can check overall business performance 24/7

  • automated accounts payable, so you’re always on top of expenses

  • mobile accounting apps that allow you to manage your finances from the road

11. Help you manage inventory

Do you spend a lot on storage, or lose money writing off obsolete or damaged goods? Or do you sometimes lose revenue because you run out of inventory? Smart inventory management is critical to doing good business.

Your accountant will identify the cost of holding inventory and come up with strategies to save some of that money. Plus they’ll review your sales data to help predict inventory needs, so you can place accurate orders. They can even set up software that tracks inventory levels and auto-orders items as they run low.

12. Make your business zing with efficiency

The cost of doing business can climb quickly with things like:

• • storage – physical or IT

  • energy – electricity, gas, utilities

  • employees (and downtime)

Do you think about these costs strategically? If you don’t have the time or expertise, that’s something an accountant can do for you. They’ll identify unnecessary costs in your business and help you develop more efficient ways of working.

13. Unlock the power of technology

Smart business software can automate a lot of the things you do manually. An accountant can take away those distractions by setting up affordable software for things like:

• • staff scheduling and time recording

  • point of sale

  • taking payments

  • customer relationship management

  • invoicing

  • payroll

This is one of the most important things an accountant can do for you. Automating business processes takes away pain, lowers costs and ensures everything runs smoothly. Just make sure you find a tech-savvy accountant that knows about business apps.

14. Bring some fun into your business – honestly

What does an accountant do? The easy answer used to be that they wore suits and sat behind big desks. Not even that’s true anymore. Many modern accountants have interesting backgrounds and will come into your workplace to see how your business actually works.

Check out accountant and bookkeeper stories to learn about financial advisors who come from rock bands, orchestras and cheerleading troupes, to name a few.

It’s easier than ever before to find an accountant who you relate to on both a personal and professional level – and they can make all the difference to how you run your business.

And let’s not forget tax

There’s more to tax than completing and submitting your returns. A great accountant will:

• • lower your tax exposure

  • help you deal with old tax debts

  • fix poor record-keeping

  • help you avoid audits

  • make sure your books are watertight if you’re audited

What does an accountant do? They make business better

If your current accountant is going through the motions, you’ll be amazed at the difference a top accountant can make. They can bring a ton of extra capability and insight into your business.

So what does an accountant do? Really, it’s whatever you need. Because if they can’t solve your business problem themselves, they’ll know who can.

Just remember that when looking for an accountant, consider more than their knowledge and skill. You should be able to have very frank conversations with them so find somebody you like. An accountant that’s easy to get on with and can do all of these things for you is out there.

How to find an awesome accountant

Nothing beats a recommendation from someone you respect and trust so ask friends, family and business partners what they think of their accountants. If you find that doesn’t work, you still have options. We’ve compiled a list of progressive accountants that offer a wide range of services and understand the power of business software.

Question: “Can cost-saving measures in the business truly be a key driver of profits?”

Running a profitable business is one of your key goals as an owner. Without profits, there’s no capital to reinvest in the business, no funds to grow the company and no money for your own dividend payment at the end of the financial year.

So, is cost-saving the answer in these challenging economic times?

Answer: “Careful management of costs is a fundamental way to improve your profit margins and profitability as an enterprise”

Cost-saving measures will have a direct and measurable impact on your profits. This is usually achieved via two main mechanisms.

Firstly, reducing your variable costs (like raw materials or direct labor) increases your gross profit margin. This retains more revenue from each sale you make as a business.

Secondly, lowering fixed overheads (such as rent or software licenses) directly reduces the total expenses on your profit and loss statement, leading to a higher net profit. This immediate bottom-line improvement makes you a more financially healthy prospect to investors and lenders – which, in turn, can often make it easier to access funding and grow the business.

Want to know more about cost-saving measures?

Talk to the team about your profit goals and we’ll advise you on the key ways you can reduce your overheads and expenses to drive improved profits.

 

The following content was originally published by BOMA. We have updated some of this article for our readers.

Question: “Can cost-saving measures in the business truly be a key driver of profits?”

Running a profitable business is one of your key goals as an owner. Without profits, there’s no capital to reinvest in the business, no funds to grow the company and no money for your own dividend payment at the end of the financial year.

So, is cost-saving the answer in these challenging economic times?

Answer: “Careful management of costs is a fundamental way to improve your profit margins and profitability as an enterprise”

Cost-saving measures will have a direct and measurable impact on your profits. This is usually achieved via two main mechanisms.

Firstly, reducing your variable costs (like raw materials or direct labor) increases your gross profit margin. This retains more revenue from each sale you make as a business.

Secondly, lowering fixed overheads (such as rent or software licenses) directly reduces the total expenses on your profit and loss statement, leading to a higher net profit. This immediate bottom-line improvement makes you a more financially healthy prospect to investors and lenders – which, in turn, can often make it easier to access funding and grow the business.

Want to know more about cost-saving measures?

Talk to the team about your profit goals and we’ll advise you on the key ways you can reduce your overheads and expenses to drive improved profits.

 

The following content was originally published by BOMA. We have updated some of this article for our readers.

As a small business owner, tax season often brings a pile of paperwork, and understanding which forms to file for your contractors can feel like a guessing game.

Here is a straightforward overview of the all-important 1099 tax forms.

Think of 1099 forms as ‘information returns.’ They tell the IRS and the person you paid (the recipient) how much money you paid them during the year. This ensures everyone is reporting all their income.

Which Form Do I Need to File?

The two forms you’ll encounter most often are Form 1099-NEC and Form 1099-MISC.

Form 1099-NEC (Nonemployee Compensation):

This is the most common for small businesses. You’ll use this form to report payments of $600 or more you made to an individual or unincorporated business (like a freelancer, independent contractor, or gig worker) for services performed for your business.

Form 1099-MISC (Miscellaneous Information):

This form is for other types of payments, also generally $600 or more, that are not compensation for services. Examples: Payments for rent (for office or equipment), prizes, and awards.

Please be aware that there are other Form 1099’s for different types of income, so if the NEC and the MISC don’t cover what you received payment on, then get in touch with us.

Quick rule of thumb: If you paid an individual or non-corporate entity $600 or more for their services, use the 1099-NEC. For most other business-related payments that meet the threshold, use the 1099-MISC.

Please note that beginning with the 2026 tax year, the threshold for forms 1099-K, 1099-MISC, and 1099-NEC increase to $2,000 and are increased each year thereafter based on inflation.

Key Deadlines to Mark on Your Calendar

Meeting the deadlines is crucial to avoid penalties!

The most urgent deadline is the 1099-NEC on January 31st (for both your contractor and the IRS). If January 31st falls on a weekend or holiday, the deadline is the next business day.

Best Practice: The W-9 is Your Best Friend

You can’t file a 1099 without the right information from your contractor! Before you issue any payment, you should have them complete a Form W-9, Request for Taxpayer Identification Number and Certification.

The W-9 provides the individual’s:

• Legal Name
• Address
• Taxpayer Identification Number (TIN), which is usually their Social Security Number (SSN) or Employer Identification Number (EIN).

Having a W-9 on file before you pay ensures you have all the necessary information for a smooth filing process in January. It’s an easy step that saves you a massive headache later!

Remember, failing to file or filing late can result in penalties, so preparation is key. Keeping good records throughout the year makes tax time a breeze.

If you are still unclear how to handle your 1099’s – get in touch with the team here and we will happily let you know what form you are required to either send or receive.

 

The following content was originally published by BOMA. We have updated some of this article for our readers.