Your relationship with your accountant should be a long term, trusting relationship. They should have a good understanding of you and your business in order to assist and advise you in the best possible ways. Not all accountants are the same, and it is therefore important that you choose an accountant that is right for you and your startup. Here are our tips on things to consider when choosing an accountant.
1. Do they get you?
You need to ensure that they understand you, and what you need. It is good if your accountant understands the industry in which you operate as there is often constraints or issues relevant to your industry that they should be aware of. You need to have a level of mutual understanding and respect.
2. Are they on board with your vision?
Entrepreneurs are often risk takers and can see the big picture. You need to ensure that when you have a start up you have an accountant that understands your vision and where you want to go and is helping you achieve this. You can’t afford to have advisers that are holding you back or taking you in a different direction.
3. Fee structure
A practical area you need to consider is their fee structure. Do they charge you for questions and advice? Do they charge you an ongoing fixed retainer fee or just for work completed. When you are running a startup and cashflow is limited you need to consider whether their fee structure is one that can work for you over the medium to long term.
4. Will they be with you for every stage
It is often hard to predict your future needs, especially when you are starting out. But you need to consider whether your accountant has the scope within their skills and services to be with you for all of your needs. If you are working with an accountant that only does tax returns then they may not have the ability to provide you with all the services you require in the future. It may be best to find an accountant that can start out with you at the beginning and continue to grow with you as your business grows.
Being a specialist in working with Entrepreneurs and Technology startups, if you would like help with your startup journey you are welcome to make an appointment with our team.