Going into business for yourself is a highly rewarding endeavour, providing you with greater control over all aspects of your career and income. It also comes with a number of new considerations and challenges that can quickly overwhelm someone who is just starting out. Running your own business can sometimes be an isolating experience. Without associates or colleagues to collaborate and share ideas with, it can often leave business owners second-guessing their plans, or avoiding calculated risks out of fear of making the wrong decision. This can lead to stagnation, which isn’t ideal for any business enterprise.
McCay Duff LLP has been partnering with entrepreneurs for decades, going beyond providing essential tax services. We develop long-standing relationships with our clients, acting as a sounding board for their own ideas, and providing regular strategic and proactive advice. Our team of business consulting and taxation professionals take the time to learn each client’s individual goals from the outset, and then we strategize on how to help them get there.
We are invested in our clients’ success and are always on the lookout for solutions for our clients, to help solve problems and identify new opportunities. We begin each new client relationship by ensuring we provide responsive and accessible service. We understand how frustrating it can be to feel like you are at the bottom of a ‘to-do’ list, and we endeavour to make sure every client knows how valued they are by returning calls and emails quickly and making ourselves available for discussions.
We regularly offer proactive advice based on a client’s specific goals and needs. We frequently reach out to clients unprompted, simply to check in and see what new challenges might benefit from an informal strategy session. Our younger entrepreneur clients especially appreciate our efforts, since they can often feel like they are making decisions in a vacuum. We bring our experience and perspective to the table, help put numbers to a potential plan, and sometimes even raise challenges to ensure our clients have thought about the next steps from all angles before proceeding.
McCay Duff LLP Entrepreneur Services That Go Beyond the Numbers
We go well beyond tax advice by providing comprehensive operational advice and strategic planning for business owners. We advise on a wide range of issues, including:
- Business growth for new or plateaued businesses: We offer strategic advice to help clients grow and push their business to the next level. We look at potential options for growth, ways to improve profit margins, and effective strategies to manage costs.
- Calculated risk analysis: Business inherently involves risk; it’s unavoidable to a large degree. But the right team will help reduce that risk and provide much-needed strategy to ensure risks are calculated and managed. Our clients sleep better at night knowing that they can rely on our depth of experience and our track record of helping businesses succeed. We often share strategies that have worked for our own firm so they can benefit from them as well.
- Improving cash flow: Cash flow can be a challenge, especially for new businesses. Whether you’re managing receivables effectively, or have too much money tied up in inventory, we will help you see the big picture with respect to your cash on hand, and help you improve liquidity whenever possible.
- Tax savings opportunities: Business owners sometimes fall into the trap of thinking there are magic loopholes to avoid taxes, but really, it’s about implementing effective long and short-term strategies. We work with our clients to help them save and defer taxes, as much as possible, using reasonable and proven strategies.
- Exit strategies: When you are considering exiting your business, the process can seem daunting. We help clients plan ahead to design a strategy in advance and then work towards it. We’ll help you identify a tax plan if you are planning to sell your business or transition ownership of a family business to the next generation. We can also help you gain an understanding of the value of your business and how you can maximize the value leading up to a sale.
Connecting Clients to a Network of Professional Support
Business owners often need the assistance of more than an accounting firm to effectively manage their needs. At McCay Duff LLP, we learn what challenges our clients are facing and if we can’t assist them directly, we’ll connect them to trusted partners who can. Our team has a number of connections with other professionals to whom we refer our clients. Our endorsement and referral of a client creates an automatic level of trust, particularly with lenders, which can benefit our clients significantly.
We have a broad network of trusted partners in various industries, including:
- Financial advisers
- Human Resources
- Business brokers
The team at McCay Duff are first class professionals. Beyond their astute accounting knowledge, they value our relationship and proactively advise us on our evolving needs. Being specialized in healthcare, we’re grateful that Dianna has a deep understanding of our practice complexities. They are instrumental in our sustainable success. From a personal and professional perspective, we’re in great hands with McCay Duff.Richard Levesque, Ottawa Derm Centre Inc.
Contact McCay Duff LLP in Ottawa for Strategic Advice and Accounting Services for Entrepreneurs
At McCay Duff LLP, we are highly invested in the long-term success of our clients. One of the joys of our role is to highlight for clients where they were when they began working with us and pointing out their growth over the years. It can be easy to overlook your successes while you’re managing the day-to-day aspects of your business, but it’s important to see the big picture and celebrate milestones.
We work with business owners to provide comprehensive services well beyond the preparation of annual tax filings. Our experience working with business owners gives us insight into hundreds of operations. We know what strategies work, and which ones to avoid, and we pass this knowledge on to each of our clients.
To learn more about how the Chartered Professional Accountants at McCay Duff LLP can assist you or your business, please contact us online, or by telephone at 613-236-2367 or toll-free at 1-800-267-6551.