Chartered accountants are pivotal to an organisation’s functioning. They not only provide valuable suggestions and financial advice for business compliance with taxation and industry protocols but also make an invaluable contribution to their growth.
However, compared to the demand for chartered accountants, the number of CAs is only a mere 2.82 Lakh, as of April 2018; out of which, only 1.25 Lakh professionals were active then. Such disparity creates bountiful opportunities for CAs to capitalise on.
CAs can decide to start their firm with a loan for CA professionals to avoid any significant financial burden initially. There are several areas which a chartered accountant can cover in their practice, either solely or in partnership.
While in sole proprietorship, CAs can enjoy the liberty of solely focusing on their expertise and develop a substantial repute. In partnership, a CA can cover several areas of focus and manage a greater number of clients, thus enhancing profits.
On the other hand, chartered accountants can also choose to become a partner at a CA firm – established or new. CAs also bring in vital financial expertise to a firm, a number of chartered accountants are thus partners at firms.
CAs can also decide to avail a professional loan to facilitate the capital which he/she needs to contribute to become a legitimate partner or for any other financial requirement they may have.
