After qualifying the chartered accountancy course successfully, CAs mostly start their career as an apprentice to gain initial experience. Next, while some choose to work in an auditing firm, others set up their practice firm. Since tax consultancy is a primary area of their expertise besides management and financial consultancy; they also set up a tax consultancy firm.
Now, there can be two primary concerns when establishing a tax consultancy business:
Gathering and increasing client base.
Managing finances of the business.
Both these concerns relate in many ways because expanding the client base also requires investments. However, before starting a firm, an individual must first have a clear idea of the market that he/she will operate in. Plus, CAs should also assess the probable roadblocks before starting their CA business in the tax consultancy area.
How can CAs increase their clientele?
Chartered accountants might require external financial aid to expand their client base. One can avail Business Loan for Chartered Accountants from Bajaj Finserv, a reputed lending institution in India, to help in this task.
Professionals new to this field organise workshops for reaching out to a broader potential clientele. These seminars allow them to interact with other CAs and potential clients and demonstrate their knowledge. Consequently, such gatherings add to market goodwill as well, since prospects get to know a CA’s proficiency. Increased market reputation aids in the expansion of one’s client base.
Chartered accountants use a Client Management Software to manage their clients efficiently. Such software's help CAs track their clients with their inbuilt tracking and accessibility systems. Furthermore, CMS allows professionals to generate customised invoices with features like automatic conversion.
Efficient client management thereby increases a CA’s market credibility, which contributes a lot to his/her client base. You can again use Business Loan for Chartered Accountants from Bajaj Finserv to get the CMS.
While tax consultancy is your primary operational area, you can also provide management consulting services to your clients. Practising in multiple streams not only increases your professional expertise but also gets you a broader clientele for your CA practice.
As a chartered accountant, you can also increase your client base in the following manner:
Joining various networking groups and local commercial chambers to expand contacts.
Maintaining a healthy post-service relationship with existing clients also helps. This aids professionals get a broader clientele by word-of-mouth referrals from the existing ones.
Providing incentives to their existing clients for references. This aids them greatly in customer retention as well as clientele expansion.
So, these are some ways in which CAs can increase their number of clients. And for taking the significant steps, they can always avail Business Loan for Chartered Accountants to use them at their own discrete.
Bajaj Finserv offers customised loans specifically for chartered accountants to meet their every requirement, be it business or personal. Moreover, such loans are granted to the applicants within 24 hours, with minimal documentation formalities. Also, chartered accountants can avail loans for up to Rs. 35 Lakh and repay throughout a flexible tenure from 12 – 60 months.
A Business Loan for Chartered Accountants doesn’t require any collateral either. Therefore, individuals do not risk losing their assets in cases of default in repayment.
Additionally, Bajaj Finserv also provides pre-approved offers to its existing customers. These offers apply to personal loans, home loans, business finance and various other financial products and services. This process of getting finance is not only simple but also time-saving. Before availing this offer, check your pre-approved limit by submitting only a few details required.