As a small business you wear many hats that include cook, janitor,
bookkeeper, bottle washer, manufacturer and any other title you need to
give yourself in order to get the job done. Yet there are certain areas
where you should never scrimp on either hiring talent in-house or
outsourcing to a qualified expert. Small business accountant can provide
one of these expert services that should never be overlooked in a small
business. The reason why accountants are so important is because they
protect the business from insolvency, tax evasion and its consequences
and can provide advice and consultation on running the business more
efficiently. Here are the 10 reasons you should hire one today.
Number one: better finances
An
accountant can also provide you with advice on how your personal
finances should be custom tailored or integrated with your business
depending on the legal status of your business. If your house is in
order most likely your business will be too.
Number two: no lies
An
accountant is paid to tell you the truth no matter how bad it could be.
If you of a spending problem and accountant will tell you to cut up
your credit cards and to stop spending before you send your business
into debt and possibly failure.
Number three: savings
An
accountant is especially skilled in reading the financial masterpiece
that is your business. They will be able to tell you where you are
spending outside of industry averages and where you can possibly save
tons of money.
Number four: tax consultant
You can be
assured that the government will take their pound of flesh but an
accountant can ensure that it is only 1 pound instead of 10.
Number five: asset management
Should
you buy new equipment or use the existing ones? Should you finance,
lease or purchase that equipment out-right? An expert will be able to
tell you the best option to save your company money and leverage credit
to your advantage.
Number six: financial systems
Have you
seen the complexity of financial software lately? Whether you use
industry standards or your own bookkeeping methods and accountant will
be able to get your books in order and suggest the best method of
keeping them that way.
Number seven: planning for the future
Being
a business owner with many jobs to do, sometimes takes away from the
ability to plan the future of your business. The advice of an accountant
quarterly can make sure that you still have your eye on the future plan
of the business.
Number eight: networking
Did you ever
think that you could use your professional consultants for networking
and referrals to actually increase your business? These professionals
generally have large networks of business contacts that could aid your
businesses growth plan.
Number nine: investment
As a small
business owner does not often happen that you have more money than you
know what to do with and need investment advice, it with the aid of an
accountant you can reach this critical step and use their investment
advice as well.
Article Source: http://EzineArticles.com/8121141
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