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There are a great many challenges involved in running a small business, and any number of issues, if poorly handled, can jeopardise its success. Small business operators don’t have the advantages of large corporations that can outsource many functions, or to employ qualified staff to manage operational areas, including accounting. The accounting function particularly is an area that is absolutely essential to the success and longevity of a small business, and since it is unlikely that such a business could afford a full-time accountant, it is vital that the services of a small business accountant be engaged and that they are consulted on financial matters. Once the decision to engage a small business accountant has been made, the next step is to find a suitably qualified person or accounting company to approach. There are a number of ways this can be done, but often this very important decision is reached without a lot of research. This can place the business in a difficult position, as the accountants Brisbane chosen may not be properly qualified, or may not have the experience the business needs to grow. It is extraordinary that small business people who usually go to great lengths to recruit the right staff, do not put in the same effort to find a small business accountant. Short-listing and reference checking are standard recruitment techniques to find staff but business operators rarely use the same approach when looking for a suitable accountant. Making a short-list from word-of-mouth recommendations from trusted friends or colleagues is an excellent place to start. If this does not provide enough information, the next step is to research websites in the target area which have testimonials from clients, or use social media such as Facebook and LinkedIn looking for links. A phone interview will whittle down the short-list, so the business operator should make a checklist of questions or points to cover which should include getting information about their areas of accounting specialisation, the industries they are familiar with, and how the business will be serviced i.e. will it have an accountant looking after it exclusively, or will the business be dealing with a number of staff members. From here, it should be relatively simple to select two candidates to approach for a face-to-face discussion. The interview is the final step where the business owner can meet the candidate accountants, discuss service delivery and fees, and most importantly, ascertain if there is a genuine interest in the business, and the possibility of a long-term relationship. This is important as the accountant Brisbane who is finally engaged should also be able to assist with developing short-term and long-term strategic plans. Selecting the small business accountant who is best suited to assist a particular business is a serious matter as the most successful businesses generally have a relationship of trust and longevity with their accounting advisors. Giving this task the attention it deserves could mean the difference between success and bankruptcy.
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