Can You be an Accountant and an Entrepreneur at the Same Time?

After reading the heading, you are probably wondering why it’s even a topic since most accounting firm owners have completed their masters degree in accounting at some point in their career. As it happens, not all accountants who have their own firms are entrepreneurs because there are definite differences between the two, which we will discuss next. So, can you be an accountant and an entrepreneur?

Can You be an Accountant and an Entrepreneur at the Same Time?

Taking Risks

Perhaps one of the biggest differences between the average accounts firm partner and the entrepreneurial accountant is the fact that the latter is willing to take calculated risks while the former isn’t. The job of the entrepreneur is to grow his/her business and growth cannot happen until and unless risks are being taken. The entrepreneur will try to be bold and go to places where most firms would not dare to, and that’s usually what separates successful entrepreneurs from the typical firm partner.

The Entrepreneur Takes Over

Although accounting entrepreneurs will still have to complete their masters of accounting degree and they will have to know each and everything that there is to know about the job, they will not delve into the actual details too much. Instead, they will let their inner businessman take charge over the accountant, which means most of their time will be dedicated towards introducing innovation, developing new or improved business models, and restructuring the manpower as is fit for achieving the next goal. In other words, the accountant will still be there to help when needed, but the entrepreneur must take a front seat since growing as a business is the target here.

Focusing on the Future

Not too long ago, people used to think that accountants were going to be replaced by technology and that has proven to be a fear without merit. Nevertheless, in order to stay relevant and remain profitable, the entrepreneurial accountant must focus on the future by incorporating technology and software as an integral part of the firm. There are resources out there that can be used to determine important factors such as future cash flow and events with accuracy and speed; both of which are hugely important in the accounting business. As an entrepreneur, it is your job to use the available technology to find better value for your clients, and in turn, for your own firm. Creation of new services which offer better value than the previous ones will set you apart from your competition and move you forward. Doing taxes and managing the payroll is not enough anymore because you need to find ways to help your client get more business or manage their present business in a more financially intelligent manner. After reading this, if you can see yourself as a future entrepreneurial accountant, it might be a good idea to get an online masters degree in accounting from a reputed university because that will give you the flexibility required in pursuing a business degree on the side as well. You can complete both in due time of course, but you will be losing some priceless years if you do. Whatever you choose, remember that the main idea is to think like an entrepreneur more than anything, but with the knowledge of modern accounting to rely on when you need to.

What Happens to Your Billable Hours When a Client Crisis and a Business Crisis Land on the Same Tuesday

Nobody writes about this part honestly, so I will. I spent time speaking with a chartered accountant in Manchester who ran her own bookkeeping practice while simultaneously building a subscription-based financial education platform on the side. She told me that the single biggest failure point was not time management in the abstract. It was that both roles demand your sharpest thinking during identical windows. A client's year-end panic does not arrive at a convenient moment. Neither does a payment processor refusing a batch of subscription renewals. Both will land at 9am on a Tuesday in late January, and both will feel urgent, because both are urgent.

The practical solution she found was not a time-blocking app or a morning routine. It was a written triage rule she created for herself: client obligations with a legal or regulatory deadline take priority over anything entrepreneurial without exception, full stop. That sounds obvious until you are staring at a product launch you have spent four months preparing, which is scheduled for the same week a client triggers an HMRC enquiry. Having a pre-committed rule meant she did not waste 45 minutes agonising over the decision. She already knew the answer. That saved her more cognitive energy over a year than any productivity system she had previously tried.

The numbers behind this matter too. In her first year of running both simultaneously, she estimated she lost roughly 30% of the hours she had planned to spend on the entrepreneurial side, simply because client work expanded into those gaps. She had budgeted 12 hours a week for the platform. She averaged 8.5. If you are planning to do this, build that kind of shrinkage directly into your projections. Do not plan for the hours you want to have available. Plan for roughly 70% of them and treat anything above that as a bonus. Your revenue forecasts and launch timelines should reflect that from day one, not after the first quarter disappoints you.

• Write down your triage rule before you start, not during a crisis
• Communicate reduced availability to at least two trusted clients in advance so the expectation is already set
• Keep a separate email address and phone number for the entrepreneurial venture so you can physically switch contexts rather than just mentally trying to
• Review the split every single month with actual logged hours, not your best guess, because perception of how you spent time is almost always wrong

There is also a professional reputation consideration that most dual-career articles skip past entirely. Your accounting clients hired you partly because you are focused, detail-oriented, and reliably present. If word circulates that you are building something else on the side, some clients will quietly wonder whether their books are getting your full attention. This is not always fair, but it is real. Being upfront about it, framing it as expanded expertise rather than divided attention, tends to work far better than hoping nobody notices. One sentence along the lines of "I am building a financial literacy platform which keeps me sharp on the communication side of finance" is usually enough to reframe the narrative before it forms on its own.

The short version: Yes, you can absolutely be an accountant and an entrepreneur at the same time, and the financial skills you already have give you a serious edge when building a business. The key is to treat your accounting expertise as a foundation, not a ceiling, and to carve out deliberate time for the creative, risk-taking mindset that entrepreneurship demands.

Frequently asked questions

Does having an accounting background make it easier to start a business?

It helps, because you already understand cash flow, profit margins, tax obligations, and financial planning at a level that most first-time founders have to learn the hard way. That said, accounting training can also make you overly cautious, so you need to consciously balance analytical thinking with the willingness to take calculated risks.

What kind of businesses do accountant-entrepreneurs typically start?

Many start with services close to their expertise, such as bookkeeping firms, financial consulting practices, or CFO-for-hire services. But plenty of accountants also launch businesses in completely unrelated fields, using their financial literacy simply as a management tool rather than the core product.

How do you manage the time split between client accounting work and running your own venture?

Strict scheduling and clear boundaries are essential. Many accountant-entrepreneurs start their business as a side project during off-peak seasons and gradually shift their time allocation as revenue from the new venture grows enough to justify the transition.

Is it a conflict of interest to run a business while working as an accountant?

It can be, depending on your employment contract, your clients, and the industry your business operates in. Always review your professional obligations and any non-compete clauses before launching, and be transparent with employers or clients where disclosure is required.

Related reading: I Asked AI What To Charge For My Consulting Day. It Told Me To Underchar.