Accounting, financial, insurance, legal or tax advice are all areas that entrepreneurs should seek out the help of professionals. And rightly so, a mistake in any of these specialised areas, can be expensive.
Next time you think DIY, rather let the professionals handle it.
These are the business fundamentals you should rather leave to business advisors
1. Drafting contracts (e.g lease agreements, supplier contracts, customer terms and conditions)
2. Intellectual property protection (e.g trademark protection).
3. Dispute resolution.
4. Bookkeeping and structuring of financing solutions.
5. Protecting your business and family against the risk of loss or theft or the consequences of your untimely death or disablement.
6. Provision of employee benefits such as pension or provident funds.
Checklist for choosing accounting, financial and legal services
- Can your business afford their fees?
- Are they reputable service providers?
- Will they work in a way that suits you?
- Are they big (or small) enough to cater for your needs?
All information courtesy of ‘The Essential Guide for Small-Business Owners’ by Nedbank.