Many small businesses are started by ordinary people who have a passion for a particular product or industry, but have no formal business training at all. There are many areas of business management that many small business owners do not fully understand. To be successful, many small business owners turn to outside professionals for help. These 3 outside professionals will aid the growth and success of your small business.
Finding out how much money a business is making, and if that business is turning a profit, can be more difficult than it sounds. This is where an accountant can help. In fact, an accountant can do so much more than track the money. Here are a few ways in which an accountant can help with your small business.
- Taxes. Tax law is complicated. Hiring a professional to do your small business taxes will ensure that the taxes are done correctly, which protects your business from problems later on.
- Small business loans. Your accountant can help you prepare your paperwork and secure the loans you need to grow your business.
- Business plans. If you're in the process of creating a plan for your small business, an accountant can review your plans and provide valuable financial advice.
Business consultants provide objective advice to business owners seeking to improve their business model and increase sales. Business consultants understand businesses on all levels, from staffing to supply chains, marketing and advertising to customer relationships. Business consulting services can help small business owners reduce waste and improve productivity.
As a business owner, you may not even be aware of the ways in which your business is inefficient, and you may not recognize the missed sales opportunities that occur on a regular basis. This is where business consulting comes in handy. Even just meeting with a business consultant for a few hours can be an eye-opening experience.
Lawyers are most useful when businesses undergo change. When businesses begin, when they grow and when they move locations, lawyers can provide information about zoning laws, employment requirements, local laws and regulations. As a small business owner, you may not need a lawyer on a day-to-day basis, but you will want to develop a relationship with a lawyer in your area so you can consult with him or her on an as-needed basis.
Establishing a relationship with these three consulting professionals will contribute to the growth and success of your business.