Turning the Recession into Lemonade
Finding Opportunity amidst Economic Adversity
Stephen Fuller, the Dwight Schar faculty chair and public policy professor at George Mason University, believes “there’s always opportunity in adversity.” In an article published on Entrepreneur.com, Fuller explains that with an economic recession comes more creativity, as professionals look for innovative ways to overcome difficulty, and with more creativity comes a surge of entrepreneurialism.
Last week we discussed how you might know if your job is in jeopardy. With the recession, many are leveraging layoffs as the perfect opportunity to start their own businesses. Even those with full-time work see the economic downturn as a good prospect for launching their own financial practices. What will you do? When life gives you a recession, we suggest you make lemonade.
Making Lemonade: Becoming a Full-Service Financial Provider
Regardless of how difficult things may become, there are always two services businesses will need: accounting and tax preparation. The law requires it. Becoming a one-stop financial shop for local small businesses will enable you to have a competitive edge; prospective clients will appreciate the convenience and specialized services your business offers.
Small-Business Accounting
Over 85% of the opportunities in the accounting field are within small businesses. Universities prepare their students for corporate accounting processes, leaving a huge gap in the small business arena. And with the economic recession, more and more small-business owners are looking for proactive accountants who can make their businesses more profitable, enabling them to thrive their way through financial difficulty. Those who recognize this need and receive the proper training can take advantage of this fantastic opportunity by becoming small-business accountants.
At Universal Accounting, we understand the needs of the small business like nobody else. UAC has designed a curriculum specific to small businesses needs and offers the most complete small-business accounting course anywhere. It’s called the Professional Bookkeeper program and will educate you in the day-to-day accounting tasks required for small business. From establishing a business’s books from scratch to managing payroll, you will receive hands-on training that will give you the confidence and expertise necessary to take on the most diverse clients. Not to mention, we dedicate one entire course module to the process of starting and marketing your new accounting practice.
Tax Preparation
Tax season is a busy time that can ensure the tax preparer a lucrative start to the year. Unfortunately, the recession is causing many taxpayers to be more selective when choosing a tax preparer who can save them money now without costing them an audit later. Many find themselves more inclined to work with individuals who have earned valuable certification. Becoming a Professional Tax Preparer can put these prospective clients at ease.
UAC’s newly updated Professional Tax Preparer course will provide you with all the information you need to tackle the current Tax Code, enabling you to prepare most individual and business returns with ease. And if you ever have a question, UAC’s follow-up support system will be there to respond with professional, reliable advice.
Many see the recession as an opportunity to finally start the business of their dreams. Are you one of them? Take this opportunity to enroll in these complementary programs: the Professional Bookkeeper and the Professional Tax Preparer programs. Your future will thank you.
Resources
Wang, Jennifer. “Recession = More Creativity = Higher Rates of Entrepreneurship.” 3 February 2009. Entrepreneur.com
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