SELF ASSESSMENT

You want to be self-employed and since you are an accountant [with a CPA certificate] you are going to start a practice.

There are a few crucial questions that you need to ask yourself:

• Can you handle the start-up period; i.e., do you have enough working capital.
• Do you have the personality to be an entrepreneur.
• If you have a family, do they understand and support your plan.

Consider the advantages/disadvantages of the following:

• Build a practice from the bottom up.
• Form a partnership with an existing firm (practitioner).
• Buy a practice.

The next step, of course, is to build a business plan.