You might not be great at every part of running your business, which is why developing a proper support system is key to your overall success. If finance isn’t your strong suit, it may be best to find a financial expert to help you manage your revenue, taxes, and other financial matters that come with owning and operating a business. Given the importance of having an accountant as part of your team, choosing the right one isn’t a decision that should be taken lightly. Here are five considerations to help you choose an accountant for your small business:
1. Look at Their Qualifications
You’ll benefit from an accountant with a lot of business, taxes, and accounting knowledge to advise you on ongoing business matters.
In most cases, choosing a qualified accountant with a strong financial background, good qualifications, – such as an account with a Chartered Professional Accountant (CPA) designation – and experience would be an ideal option for a small business owner looking to grow and succeed.
2. Find Someone You Like
It won’t matter how experienced or skilled an accountant is if you don’t immediately feel comfortable with them as a person. If you can’t connect with them on a personal level, your relationship ultimately won’t be successful.
Before deciding to hire a new accountant, ensure that you can see yourself working with them for many years to come. Changing accountants can be difficult and often creates unnecessary distractions.
3. Make Sure You’re a Priority
Don’t be shy to ask if your potential accountant has enough time for you. Having them answer your questions in a reasonable time frame will only benefit your business, and reduce the amount of stress for both of you.
4. Consider It an Investment
We all love to make the most of our budget but be careful about choosing your accountant based on price. The money you spend on good accounting and tax advice is an investment in your business and future success.
5. Be Selective
Sometimes, even with proper planning and due diligence, you may choose someone who’s simply not a good fit. While it can be uncomfortable to have this discussion with your accountant, the long-term benefits of having the best team possible are worth it.
Choosing an Accountant for Your Small Business
You work hard to build and maintain your business, so ensure you develop strong professional relationships as they’re integral to your business’ success.
The value of finding the right accountant who understands your business’ challenges and opportunities is huge, so take your time to find the right team member for you.
Small Business BC is Here to Help
SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our business articles.
