In starting your business you are going to need all the help you can get. Chapter 5 described the business support that is available. In this chapter we will concentrate on the help that you can obtain from professionals. There are three main categories of professional:Before we look at these individually, a few general words of advice are appropriate. When dealing with any professional, always check their credentials. You need to be aware that there are bogus operators in each and every field of life and you will not want to part with any money for advice that may not be factually correct.

 

Before you appoint any professional, make sure that you visit their own office. Take time to look around. Does it appear well organised and tidy? Does the telephone ring regularly? Are there general signs of activity? Whilst this sort of personal observation may not apply to consultants who work entirely from a home office, you should also check for relevant professional qualifications or accreditation from a recognised body. Accountants, for example, should be members of one of the three main professional accounting bodies: Accreditation should be from a recognised body which only proffers it after stringent criteria have been met.

 

For example, as a consultant I am accredited by the British Accreditation Bureau as a Certified Practitioner to work with businesses in the areas of strategic planning, fund raising and marketing. This accreditation was only gained after I had provided: In addition, I was subjected to a rigorous selection interview during which I had to give a presentation regarding my work as a consultant, outline in detail one of the consultancy projects that I had undertaken and provide documentary evidence of my professional and other qualifications with copies of the relevant certificates.

 

This accreditation is also subject to annual renewal, with at least three references being necessary from clients for whom I have undertaken work in the preceding 12 months.

Choosing And Using An Accountant

A word of caution to start with. Anyone can call themselves an ‘accountant’ or a ‘book-keeper’ despite the fact that they may hold no professional qualifications whatsoever. For obvious reasons, the quality of service that they provide, and the business help and advice that they offer, can vary widely.

All qualified members of the organisations previously referred to in this chapter will have undertaken rigorous examinations before being allowed to use the respective designatory letters of ACA, ACCA, or CIMA. In addition, they are all required to adhere to high professional standards and all of these organisations have established complaint and disciplinary procedures.

All members of these organisations who prepare or audit accounts are required to have a practising certificate. These are renewable annually provided the accountant complies with the requirements relating to professional indemnity insurance, continuing professional development, and the continuity of the practice arrangements outlined by each organisation.

How Should You Choose An Accountant?

The choice of an accountant is very important because they will probably be your primary professional business advisor. You should see them as being a partner, there to assist you with the running of your business. For this reason, the accountant you choose needs to be the right one for you from the very start. This means too that you need to like them on a personal level. They could be the best accountant going but unless you actually like them you are unlikely to be willing to accept their advice regardless of how good it is.

Choosing an accountant also involves the question of their fee. It would be inappropriate for a small business with limited turnover to seek to appoint an accountant from one of the major accountancy practices. The accountant you choose should be the one that is also being used by other businesses the same size as yours, although they will need to be able to cope with your business as it grows.

The question of what sort of fee is appropriate whether the proposed fee represents value for money. There is nothing to stop you from obtaining comparative quotations. As in any other market, there is plenty of chioce.