If you are an accountant or a chartered accountant by profession and want to start your business there are many options for you. Here in this article, we list down different kinds of business ideas for accountants that can show you in the right direction.
To implement accounting business ideas successfully you have to be an efficient accountant. Along with that, you must have an acumen for entrepreneurship.
If you are doing a job as an accountant and want to start a business along with the job, you can do that. There are many business ideas for accountants that can be done in your free time after the job.
Business ideas for accountants are very lucrative. You can earn a good income from any of these businesses.
25 Business Ideas for Accountants
1. Tax Consultancy
Preparing personal or corporate income tax and filing them is a job that requires both precision and responsibility. That is why this is an appropriate business idea for accountants. If you have experience and knowledge about the provisions of income tax, you can start this business. Personal contacts along with online and offline marketing will give you many clients and a good income.
2. Corporate Financial Consultancy
Corporate financial consultancy is a high-profile business wherein the consultant gives directions regarding investment, insurance, tax planning, and financial allocations to fulfill the financial target of the corporate clients. This is a good and lucrative business idea for accountants. You can start this business even from your home. Good contacts, the website of your consultancy, and marketing will get you more clients.
3. Personal Financial Consultancy
Many people especially business owners or high-profile professionals, and celebrities need a personal financial consultant to manage their financial portfolios. This is also a good business idea for accountants. You can start this business with your contacts. Gradually you can add more clients through online and offline marketing and publicity.
4. Real Estate Appraisal
If you have experience in real estate and valuation, you can start the business of real estate appraisal. It has a good demand and hence a profitable business idea for accountants. You will need a well-planned marketing and publicity network to be successful in this business.
5. Forensic Accounting
Forensic accounting has great demand in corporate, insurance, police, and personal sectors. If you have exposure to forensic accounting, you can start your forensic accounting consultancy. You need to grow a good network with the sectors that need forensic accounting services. Ads and marketing are very important for this business idea for accountants. Make a website for your consultancy as a part of publicity.
6. Remote Bookkeeping
With the advent of so much accounting software and direct interaction through video conferencing, remote bookkeeping is a convenient as well as a lucrative business idea for accountants. You can provide this service from home and serve several clients, increasing your income level. Digital marketing and social media publicity are effective for the growth of this business.
7. Debt Consolidator
As an efficient accountant, you can start your business as a debt consolidator. This is a profitable business idea for accountants where you have to be conversant about the interest rates of different banks and financial institutions. Good marketing skills, digital and social media publicity along personal networking will get you more clients.
8. App Development
Are you a tech-savvy accountant? If yes then accounting app development can be your ideal business area. Accounting and bookkeeping apps have great demand in the market making them a very profitable business idea for accountants. Digital marketing and publicity play very important roles in making your app more popular and increasing your income.
9. Software Tutoring
If you are a tech-savvy accountant, then software tutoring is a profitable business for you. Many new and aspiring accountants look for such tutors. Thus it is a much-demanded business idea for accountants. You can teach personally, in the classroom, or online. Good contacts and marketing will get you more business.
10. Accounting Tutoring
Teaching accounting is a much sought-after business idea for experienced accountants. If you have sound knowledge of accounting and good teaching skills, a tutoring business will fetch you a very good income. Good contacts, referrals, and word of the mouth publicity will get you more business.
11. Online Tutoring
Online tutoring is also a profitable business idea for accountants. If you can teach well and have a good knowledge of digital communication you can start this business. You can teach students of different standards as well as young professionals online. Digital marketing and social media publicity will fetch you more clients in this business.
Furthermore, one can also create online courses on reputed online teaching platforms and can make good recurring money.
If you have enough capital you can start a microfinancing business wherein you can lend money to start-ups or small enterprises that are unable to get a loan from banks or other financial institutions. This is a good business idea for accountants because as an accountant you can judge the viability of the business enterprise and decide on giving loans judiciously. You have to invest in marketing and publicity for the growth of this business.
If you have a good academic record and teaching skills, you can start working as a teacher in a school or college, or professional institute. Good candidates are always in demand. Hence teaching is a good business idea for accountants. You can also start your teaching academy and earn more money. Good contact and referrals are important for this business.
14. Financial Blogging
Financial blogging is a much sought-after business idea for accountants. You can share your experience, expertise, and insight through your blogs. Relevant topics, a good writing style, and financial suggestions will get you more readers which means more income. Digital marketing and publicity are very important for making your blog popular.
Suggested Read: How to Start a Blog & Make Money
15. Write Books
Writing books on accounting and the ‘How To’ series and publishing them is a profitable business idea for accountants. You can start this business if you have sound knowledge of accounting along with writing and editing skills. High sales of your books will fetch you a good income. Well-planned marketing and publicity are important for boosting the sales of your books.
16. Audit Firm
Opening an audit firm is a profitable as well as a sustainable business idea for accountants. You can serve different types of business enterprises. Auditing is a mandatory procedure, you can earn a good income from your audit firm. You will need to hire a few people for assisting you. Good marketing and publicity will get you more clients.
17. Nonprofit Accounting Services
If you have experience in nonprofit accounting you can start your nonprofit accounting firm. Since nonprofit organizations have different modes of operations, their accounting procedure needs special attention and management. As there are many nonprofit organizations this business has good demand and therefore a profitable business idea for accountants. Contacts, referrals, and publicity are needed for this business.
18. Angel Investor
Angel investment is a good business idea for accountants. If you have money to invest you can consider this business option. Since this investment is for start-ups or new organizations in return for equity or convertible debt, you can earn good profit from this business. Marketing skills and assessing the prospect of the start-ups are necessary for this business.
19. Payroll Services
Payroll services are many sought-after services and a profitable business idea for accountants. You can start this business and serve different types of business organizations. Efficient and timely service are the keywords of this business. Good contacts along with marketing and publicity are essential for the growth of this business.
20. Venture Capitalist
A venture capitalist is also a profitable business idea for accountants. You can start a business as a venture capitalist using your accounting expertise and insight to judge the prospect of the new business where you are investing. Well-planned marketing and research are essential for this business.
21. Brokerage Services
Open your share or forex trading firm and provide brokerage services to your clients. You will get paid on every transaction and the profit earned. Good knowledge of the share market is essential for success in this business. Online and offline marketing and publicity along with personal contacts will get you more clients.
22. Risk Management Consultancy
Risk management consultancy is an important service for business enterprises as well as business owners. You can start this business and earn high fees as a consultancy. This business idea for accountants needs a good idea of insurance and other investment schemes for managing personal and business risks. Personal networking, referrals, and publicity will get you more clients.
23. Business Research Services
Business organizations as well as various institutes need different kinds of accounting-related research outputs. Hence providing business research services can be a very good business idea for you. Good research skills and presentation are essential for this business idea for accountants. Website, well-planned marketing, and personal networking are essential for this business to grow.
24. Debt Collection Agency
Collecting debts for different kinds of businesses is a profitable business idea for accountants. You can start your debt collection agency and get paid by commission on each case of debt collection. Appoint efficient manpower as field workers or collection agents for successful operation.
25. Business Plan Writing
Many aspiring businesses fail to get financial assistance or loan due to a poorly drafted business plan. If you have a business assessment as well as writing skills, you can start the business of business plan writing. This is a good business idea for accountants because they will be able to show appropriate financial projections in the business plan. You will be paid either a consultancy fee or a commission based on the value of the business. Personal contacts, referrals, and goodwill will give you more clients in this business.
It is without saying, accounting professionals have a wide scope of doing business and earning good profits. There are plenty of profitable business ideas for accountants that show them the path to success.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their businesses.