Why enticing extra clients is key in a furlough-free future
30th Jul 2020
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The end of furlough is coming – and soon.
After the Summer Statement, we know that once we reach October, that’s it for furlough, and there will likely be some major ramifications.
Many business commentators are expecting significant job losses.
As the Coronavirus Job Retention Scheme ends, along with some other Government financial support packages, for accountants this may mean:
Business clients cut back on spending, including on the services they’re willing to pay you for
You lose some clients whose firms are sadly no longer viable and have to fold
You have an influx of requests for support from clients who require and seek even more expert advice
New companies look to outsource their accountancy responsibilities to you
Keeping a strong client base
To maintain a healthy client base during this time of economic uncertainty, you may need to look outside your typical sectors and work towards attracting new clients.
This may especially be the case if, for example, you look after a lot of businesses in one of the hardest-hit sectors, like hospitality.
You might need to consider offering a wider array of services to those remaining to ensure they can succeed.
It could mean going beyond your traditional offerings and moving even more into the advisory space.
Expanding your client base and services
How can you expand services and grow your client list?
Knowing you need to do this is one thing, but how do you do it?
Especially when you have to also keep up with your day-to-day compliance and business as usual.
Increasing the speed and efficiency of your essential processes can free up time for you to focus on expanding your services and attracting more clients.
This was the challenge for Christine Aplin, Founder and Certified Bookkeeper, Caplin Bookkeeping.
She said: “I wanted to provide as many services as possible because I didn’t want to limit the clients I could take on. I knew having the right tool in place would make everything much more streamlined, enabling me to handle a larger workload and many more clients.”
She turned to Taxfiler for support, having seen the benefits and times savings it could provide when looking to cater to a wider client base, and has stuck with it ever since.
Christine explained more about how Taxfiler has helped her offer more services, streamline processes, and gain more clients in this case study here.
Taxfiler’s award-winning online accounting and tax software is available from just £10 per month. Almost 9,000 practices now trust Taxfiler to file their statutory accounts and tax returns with Companies house and HMRC. For more information please visit taxfiler.co.uk