Running a small business comes with many responsibilities, and managing finances is one of the most important—and most challenging. From keeping your records in order to staying compliant with SARS and the Companies Act, the role of a professional accountant goes far beyond number-crunching. At SG&CO, we work with SMEs across South Africa to provide expert accounting services that help you make better decisions, remain compliant, and position your business for sustainable growth. Here’s why having an accountant isn’t a luxury—it’s a necessity.
FAQs: Why Your Small Business Needs an Accountant
What does an accountant do for a small business?
An accountant helps manage your financial records, ensures tax compliance, prepares financial statements, provides financial insights, and helps you make informed business decisions.
Can I handle my own accounting instead of hiring an accountant?
While you can manage basic bookkeeping, an accountant provides expertise in financial reporting, IFRS compliance, and tax regulations, helping you avoid costly mistakes and saving you time.
How can an accountant help me save money?
An accountant ensures you take advantage of tax deductions, prevents financial errors, and helps optimise cash flow, which can save your business money in the long run.
Do I need an accountant if I already have a bookkeeper?
Yes. A bookkeeper records daily transactions, while an accountant interprets the data, prepares IFRS-compliant financial statements, and provides strategic financial advice to support your business growth.
How can an accountant help with tax compliance?
An accountant ensures your business complies with tax laws, files accurate tax returns on time, and helps you avoid penalties from incorrect or late filings.
How does an accountant help with business growth?
By providing financial insights, budgeting assistance, and IFRS-compliant strategic planning, an accountant helps you make informed decisions that support long-term business success.
When should I hire an accountant for my business?
It’s best to hire an accountant when starting your business, but also when handling taxes, seeking financing, or planning for expansion.
Can an accountant help me get a loan or funding?
Yes. Accountants prepare financial statements, cash flow projections, and business plans that improve your chances of securing loans or investor funding.
How often should I meet with my accountant?
Regular check-ins, at least quarterly, help you stay on top of your finances, review performance, and plan for future growth.
How do I choose the right accountant for my business?
Look for an accountant with experience in your industry, strong financial expertise, and a track record of helping SMEs manage their finances effectively.
What is IFRS, and why does it matter for my business?
IFRS (International Financial Reporting Standards) ensures that your financial statements are structured correctly and comply with global standards. Having IFRS-compliant financial reports makes it easier to secure funding, attract investors, and stay compliant with tax regulations.
Why does my business need an accountant if I run a small operation?
Even small businesses must meet legal and tax obligations. Your business is a separate legal entity that requires accurate financial records and tax submissions. An accountant ensures everything is done correctly and on time.
How does an accountant’s outside perspective benefit my business?
An accountant provides an unbiased financial perspective, identifying risks, inefficiencies, and opportunities that may not be obvious from within the business. This helps you make smarter financial decisions and improve profitability.
Whether you’re a startup or an established SME, the right accountant is more than a service provider—they’re a strategic partner. At SG&CO, we give you more than just compliance. We offer insight, structure, and forward-thinking support so you can focus on what matters most: growing your business.
Let us help you stay compliant, make better decisions, and build financial confidence—get in touch with SG&CO today.
Accounting Services
We provide tailored accounting services designed to propel small and medium-sized enterprises towards sustainable growth and compliance confidence.