If you plan on going into business and require some financial expertise, accountants are exactly what you are looking for. They have specialist knowledge in a wide variety of industries, and they know what to look out for when starting a new venture. It is important to hire a good communicator, someone who understands your vision,while also offering logical advice and support.
What Are Their Weaknesses?
Any honest accountant who runs their own firm will admit they have weaknesses, they don’t know everything and there is nothing wrong with that. But they should be quick enough to point out that they have other employees in their company who make up for what they don’t have, making their firm capable in every area. If they think they know everything, then you should start looking elsewhere, ignorance is not a good trait to look for in an accountant or any financial expert. A good accountant won’t be cheap, but they’ll be value for money, especially if you need assistance in starting up your own business.
Can They Answer Basic Questions?
If you plan on opening a new business and you require accounting services in Nottingham, organise a meeting with one of the many competent firms located throughout the city. Once you’ve organised a meeting, start with some basic accounting questions which refer to start ups. If you encounter a financial advisor who looks perplexed at some of your questions, then maybe they aren’t as experienced as they claimed to be. If they use excuses like “I’ll have to look into that more deeply” or “I’ll get back to you the next time” you know they’re avoiding the issue because they have no idea how to answer the question.
How Risk Adverse Are They?
You won’t find an accountant who will fully endorse all your ideas and advise you to take risks at every turn, it is just not in their nature, plus it doesn’t make good business sense. But, they should be willing to listen to your concepts and find ways to support you if you choose to operate your business in a specific way. You don’t want to work with an accountant who is too risk adverse, on the other hand, you should avoid a financial advisor who endorses your every move. Test them on personal strategies and see how they react to your plans, if you get satisfactory answers, then you know you’ve found a competent accountant.
Do You Understand Them?
You must work with an accountant who explains jargon, strategies and financial advice in layman’s terms, not someone who confuses you when you speak to them. If you come out of a meeting scratching your head, then your advisor was not able to communicate appropriately with you.
When choosing an accountant to help you with opening a business, you must find an individual who can provide clear and constructive strategies, not just someone who pushes their own agenda and fails to consider your concepts and vision.