Local accountancy office with a small team

Local shops, restaurants, tradespeople, landlords and small companies that prefer a nearby accountant they can meet.

Monthly or annual fixed fees per client, plus fees for payroll, company formation, tax advice and other one-off work.

• Qualified or experienced in accounts and tax
• Managing and training staff
• Building local relationships
• Good systems for deadlines and workflow

• Rent and staff costs are fixed, so check you have enough clients to cover them before signing a lease
• Anti-money laundering supervision is required, check with HMRC or a professional body
• Professional indemnity, public liability and employer's liability insurance once you hire
• Staff need training and supervision, and mistakes on client work can be costly
• Check data protection duties and the rules on which services need specific qualifications
• Workload peaks around tax deadlines

Startup costs are typically around £5,000 to £25,000, depending on the premises, fit-out, equipment and staff. Because rent and staff costs are fixed, check you have enough clients to cover them before signing a lease.

Monthly revenue is typically around £3,000 to £15,000, depending on client numbers, the services you offer and your team size. This is revenue before rent, salaries and other costs, and workload peaks around tax deadlines.

Check anti-money laundering supervision with HMRC or a professional body, plus professional indemnity, public liability and employer's liability insurance once you hire. Also check your data protection duties and which services need specific qualifications.