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69. Having the right financial
advice is an asset businesses need to prosper.
Having all the relevant information on which
to base that decision makes good business decisions.
70. Having an accountant working
with you sounds easy, however choosing the right
one is important. It is very personal and therefore
there must be a good level of trust, get on
with each other and respect. After all you will
probably tell your accountant more about your
personal affairs than anyone else.
71.Using an accountant from
one of the recognized professional bodies probably
means he has experience of other start up situations,
use that to your benefit.
72. The right accountant will
be able to provide advise on business matters,
taxation, VAT and assistance in dealing with
the various authorities, e.g. VAT and Inland
Revenue.
73. A solicitor can be helpful
with key aspects when establishing a business.
Such as terms of Trade, Partnership contracts,
shareholders agreements are all necessary part
in the early stages.
74. There will also be circumstances
in your trading life when advice will be needed
and having established a relationship with one
who knows something about your business will
be helpful.
75. Compliance issues
and regulation are part of our everyday lives,
unfortunately these keep changing and you need
someone to advise you. A commercial solicitor
is required, check their experience in that
marketplace, if all they do is domestic then
will they be up to date in what is required.
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