Often when we have a tough business decision to make we are at a loss as to who we should get advice from. There is often a fear that professionals have their own agenda so we shy away from asking. Instead many people turn to family or friends. While they might have your best interests at heart, they are often ill equipped to advise on business or finances. This can mean that you get the wrong advice and make ill informed decisions.
Here are 5 reasons why your first point of call should be your accountant.
1. Accountants are skilled and experienced to provide business advice
Accountants work with businesses all day long. They have business financial knowledge and education. They can help you see your current financial position and help model future predictions on your finances. They have a strong understanding of business rules, regulations and tax requirements to ensure that decisions you make are going to be in your best interests and you won’t have any nasty surprises later.
2. Accountants make decisions based on hard facts
We love a spreadsheet and reports. While a business owner may look at a decision with emotion an accountant won’t. We will help you navigate through the decision with hard facts. While we appreciate that there is often more to a decision than hard facts at least you know that we will be able to help you with the difference.
3. Accountants are fluent in the language of business
Unless skilled in this field a family member or friend may not understand some of the intricacies related to running a business, your accountant does. We understand business, how it operates and what it needs in order to grow and flourish.
4. Accountants bring order to chaos
We can all get absorbed in the day to day drama. There are deadlines and customers and machinery that doesn’t work and staff that aren’t performing. These things can rule you and your business. However, your accountant doesn’t see this stuff. They look at the facts and figures and can help you leave the chaos behind and look at the business from an ordered and organised position.
5. Accountants value ethics
Qualified accountants are ethical and value their position as your ‘trusted advisor’. They have an independent mindset that allows them to view your business from an outsider and independent from other obligations or opportunities. They aren’t trying to sell you anything, but rather provide a service of advice and support. So, if you need business advice please feel free to contact us.