For new businesses having the correct financial support is essential. Whether the long term goal is to grow your business locally or achieve world domination; it is important that you get off on the right foot and stay that way, particularly when it comes to your finances.
From bookkeeping, to payroll and invoicing and of course the dreaded tax and VAT returns; business finance is complex and requires care and attention that many would agree can only really be provided by an accountant.
Contrary to popular belief, an accountant is not just a “suit” in a high flying corporate office! Accountants are financial professionals dedicated to providing experienced advice and support to ensure finances are well looked after, cash issues are quickly resolved and saving is easy.
Small business owners often hesitate to invest in an accountant, out of fear that fees may be unaffordable and commitment may be marred, after-all with so many big clients why would your small business matter? However, just like there is someone for everyone; there is an accountant for every business too!
Searching for the right accountant? Then keep the following in mind...
What do you need?
Whether you are new to business finances or are a self taught whizz at managing invoices and payroll; before you begin your search for the right accountant it is important to first consider what your business needs.
Do you require an accountant to take charge of everything? Will a lot of handholding be needed or will you be able to work with your accountant on different areas, simply requiring assistance here and there?
Determining the type of service you require and quantifying your expectations is the best place to begin.
Care and attention
From late invoices to problems with cash flow, assistance with tax and vat returns; your business finances will actively require care and attention 365 days a year. With that in mind, are you sure you will get the right level of care and attention from an accountant?
From the fear of being pushed aside for bigger clients to wondering what will happen if your accountant takes unexpectedannual leave. There are a number of issues regarding the level of care and attention that drive many small businesses to opt for an in-house accountant.
Discuss all issues and find out as much as you can before you make any form of agreement. You can easily find a number of outsourcing specialists and accounting firms that are dedicated to small businesses only.
Knowing just what to expect will ensure that you get the service your business needs.
For many small businesses and start-ups in particular, the current competitive market has made risk assessment essential.
From knowing where savings can be made, to determining whether or not a specific purchase is right for your business; are you making the right moves? Have you invested in an accountant that is experienced enough to manage your business finances and ensure you are safe from risks?
Accountants are open about the level of experience they have, so make sure you ask all the right questions and get all the information you want before doing anything else
There is no reason why you cannot find the right accountant, whatever your business.