1. Technical Proficiency Staff
Skilled and motivated employees are required for the success of any organisation.
The central problem most CA companies face today is retention of workers.
The attrition rate of posts, trainees and junior accountants is extremely high, leaving companies to look out for fresh ones time and time again.The working environment is very structured and organized.
A meritbased culture where successful performers are given the opportunity to learn new skills and experience.the attrition rate of posts, trainees and junior accountants is extremely high, leaving companies to look out for fresh ones time and time again.
2. Applicable Trade License & Government Approval
According to the basic principles of the state government, a CA firm is required to register and register for a professional tax registration, approval by the Municipal Corporation and a commercial license.
Chartered Accountants may set up a CA branch office anywhere in India, irrespective of where you are registered or head office.
3. Infrastructure and Office Running
Ensuring your CA firm's high-end office location is becoming important in the competitive world. The equipped office is completed with technical expertise and infrastructure.
However, renting or hiring a property at prime locations can burn a hole in your pocket.Chartered Accountants
Acquiring an official property at Connaught Place in New Delhi cost you around 2-3 lakh per month.
Add electricity and computer costs to it, and it's going to pile up like a mountain of expenses.
4. Latest Use of Technology
In addition to basic infrastructure and good staff, the best CA firm should also imbibe the latest technology developments to provide workers with the best facilities.
Technological advances such as cloud computing, blockchain technology and automation are revolutionizing accounting techniques.
The 2016 National Accounting Practice Management Survey found that 56 percent of accounting firms use these advanced techniques to improve productivity.
Installation, maintenance of the infrastructure and labor charges for these technical elevations that cost you about 10 lakh, along with monthly maintenance charges.
Such costs could add up significantly and could be a source of damage to your vision of running a successful CA business.
High training costs and the implementation of the latest technology for your company may come to a standstill, but with Chartered Accountant Loans from banks or Non Banking Financial Corporations, you can turn your business into a highly successful business unit.
