Tuesday, 30 June 2015

How difficult is it to set up a CA practice?

My parents started their CA practice a little over 25 years ago. They say how for the first 2-3 years they had hardly any clients to earn anything from. They had to draw money from their savings to meet office expenses initially. They would broom and mop their one room rented premises themselves, and also cut on personal expenses, bringing personal needs to only the bare minimum. So, one needs a lot of patience to keep going.

How quickly you build clients depends majorly on your networking skills. I would suggest speaking at ICAI's study circles, contributing articles to the Institute's journal and authoring a book on a professional subject in your free time to develop your brand name in the industry.

You must also build a circle of friends among young company secretaries, cost accountants and advocates so that there can be mutual sharing of work without any conflict of interest.

-Sarthak Ahuja

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