Specializationīookkeeping is a specialized skill-there are only so many people with the education, experience, and certification needed to keep books and make corresponding decisions. Many of these business owners do not have the time or skills to manage their books on their own, meaning there will always be potential clients available. There are more than one hundred million businesses in the United States and all of these businesses will have at least some sort of bookkeeping need. So why do so many people choose to start a bookkeeping business? Large Client Base The Benefits of Starting a Bookkeeping BusinessĬurrently, there are nearly two million Americans working as either a bookkeeper or an accountant (or both), making this profession one of the most common currently in practice. Many new companies will offer both bookkeeping and accounting services, depending on what their clients specifically need. Essentially, both bookkeepers and accountants keep track of important financial data (“the books”), but accounts are more involved in the financial planning process. While bookkeeping focuses on the recording and reporting of a business’s financial activities, accounting takes a deeper dive and also includes things like financial planning and analysis. Generally speaking, the responsibilities of bookkeepers and accountants consistently overlap, it is still a good idea to identify the differences between these two terms. In casual conversation, the terms “bookkeeping” and “accounting” are often used interchangeably. In this guide, we will discuss the most important things you need to know about starting your own bookkeeping business and how you can get started. Bookkeeping businesses have relatively low start-up costs and, at the same time, can still be very profitable.

With the right business banking partner, plan, and knowledge of the bookkeeping industry, you can open your doors and begin operating immediately. Starting a bookkeeping business from scratch can be difficult, but when done correctly, it can lead to a very rewarding career. Having a good bookkeeper can help a business monitor its financial activity, plan its future expansion, and establish a competitive advantage. In this guide, we will discuss the most important things you’ll need to keep in mind along the way.įor as long as there have been businesses, there has been a need for bookkeeping. Starting a bookkeeping business can be very profitable, but you will need to do some work upfront.