That dichotomy between success and failure for a startup in NYC is extremely narrow and the difference between success and failure can sometimes come down to luck or one simple mistake. These problems come about because most New York businesses face such significant startup expenses compared to many others in other places. A lot of individuals are foregoing starting up good businesses in a recession because there is such a low margin for error. The math in what’s saved by a good NYC bookkeeper makes any potential savings from taxes or expenses even more critical than they may be in other regions and a good bookkeeper may make starting that business worthwhile.
There are other services that the best NYC bookkeepers provide. One of the very valuable services to their clients that can be bigger than just saving tax dollars is in becoming a partner and a mentor to a new business. Good NYC bookkeepers do this without becoming too pushy or trying to take over the business. This can happen if the client and the bookkeeper have a trusting and open relationship. And by far, the most underrated factor in evaluating a new bookkeeper is their personality and bedside manner. A good NYC bookkeeper can make a new business owner feel extremely comfortable in knowing they have someone in their corner and that they won’t have any horrific financial surprises. With this kind of relationship, a NYC start-up is always viable regardless of economy status. But finding one that has patience and good customer service skills, not to mention the requisite experience, is not easy at all. And that decision is likely to be one of the 2 or 3 most important ones that a first time small business owner will face. It’s important because an error here can undo all of the other good work that a company may do. A great business plan and marketing strategy and loyal customer base can be undone with one angry IRS agent.
Deciding if a start-up is a good idea in this day and age also comes from observing the status of the US economy. A bad economy only exacerbates the potential pitfalls that these companies face. A business succeeding or failing can often come down to one or two key decisions made, often one of these is what financial representation they work with. A good NYC bookkeeper is going to pay benefits in every aspect of the business. For New York businesses trying to compete in the very difficult tri-state area in a recession, it is imperative for businesses to have the best financial representation. This is because new businesses, as everyone knows, see greater levels of state and IRS audits and having the best NYC bookkeeper can avoid most of these and win the inevitable ones. Having the confidence that that is in one’s corner can really make a business pursue worry-free on their core competencies.