Starting Your Own CPA Practice
Congratulations! You’ve decided to set out and open your own firm. This is an exciting time for you -- and, perhaps, a little overwhelming. That’s why we’ve assembled resources to help get your accounting practice running and growing, from obtaining financing to business development.
Making the decision to go out on your own
Before you dive into your new venture, review this article about starting your own CPA practice to ensure you’ve thought through everything that comes with beginning a business.
Board of Accountancy requirements
Now that your decision is made, here’s what you need to do to be in compliance with the Board of Accountancy’s regulations.
- Check your status to make sure you have an active CPA certificate if you’re going to use the CPA credential with your firm name.
- Apply for a firm permit. A firm permit is required if you plan to use CPA in your firm name.
How to price your services
What do you charge for professional accounting services? There are a lot of options to consider. This blog post covers the basics of billing and pricing.
Building your book of business
There are many strategies to market your firm and gain more clients.
- Your website is your prospective clients’ first stop. Make sure you’re making a good first impression.
- Many small firms have a blog and write articles to increase their online search traffic. The MNCPA accepts article pitches and submissions for possible inclusion in our e-newlsetters and Footnote.
Want more help with business development? Check out the MNCPA’s business development resources.
Need to expand beyond your solo practice? Purchase a classified ad on the MNCPA’s website to reach qualified candidates.
State resources are available for business owners who suffer damage due to a natural disaster.
- The Minnesota Department of Commerce Disaster has a Disaster Information Packet to help guide individuals and businesses through the insurance and rebuilding process.
- The Minnesota Department of Employment and Economic Development has a fact sheet containing information to help your recover.
Data breaches are not uncommon, and small CPA practices are a prime target. Make sure you’re protecting yourself and your clients data with these cybersecurity tips, and understand what to do if your firm is hacked.
Other Minnesota business resources
Check out this database of statewide resources for entrepreneurs looking to start a business. You’ll find information regarding business financing, energy resources and workforce development.