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How a CA Loan Can Help You To Build Your Practice At Home

  • Highlights

  • Build a home office

  • Purchase office equipment

  • Hire new employees

  • Invest in new technology

When it comes to chartered accountants, clients are often spoilt for choice. Moreover, many CAs also have their own practice. However, building your own practice commands work, effort and commitment. You need to have a written business plan, and most importantly enough capital for it.
Professional business loans for chartered accountants are a good way to get this capital. Today, even NBFCs like Bajaj Finserv offer these loans at attractive interest rates and pre-approved offers which help you access money without submitting an application for it.
Moreover, you can even set up your CA practice at home with CA loans . Here are a few ways you can this loan to build your practice at home:

1. Build a home office

To set up an accounting practice in your home you need to build an office, with appropriate interiors and equipment. You can set up a waiting area for your clients, and a cabin for yourself, in a pre-decided area of your house.
You could also set up cubicles/cabins for any employees you may hire. A Wi-Fi connection for your clients in your waiting area would be an added bonus, allowing them to stay connected while they wait.

2. Purchase office equipment

Office equipment is an essential part of any office. You need desks, chairs, personalised stationery and so on. Having custom envelopes, letterheads, etc., with your company’s name and logo allows for personalised communication.
It also adds legal value to your communication like invoices and so on. Bajaj Finserv Business Loans for Chartered Accountant give you the liquidity to arrange all of these for your home office.

3. Hire new employees

While hiring new employees is not mandatory, it is a good way to expand your business. This allows you to commit to more clients more comfortably, knowing that there are enough people to finish the work. This, in turn, generates more revenue.

4. Invest in new technology

Accounting, like many other industries, is an area where big data and technology are beginning to play a major role. There are many cloud accounting software applications that have been created to ease the paperwork involved in accounting. They track income, expenses, profits, tax, transactions, etc., making the whole process much easier.
However, this technology isn’t cheap. The cost of implementing big data and cloud accounting software may run into several lakhs of rupees, the funds for which can be easily procured through business loans for chartered accountants.

5. Market yourself

The loan also makes it a lot easier for you to market yourself. Aside from business cards and stationery, it also allows you to post digital advertisements and work on getting people to know you. Find out how it is you have been getting new clients till now, whether from recommendation or some other means. You can then use that information to create a client acquisition strategy. Thus, this loan helps you take care of financing needs of your practice at home and take it to the next level.