If you are a business proprietor, there is no doubt at some stage you’ll wish to hire an accountant. Whether you operate as a sole trader or a limited company, you’ll be seeking a business accounting solution to take care of your financial needs. With so many choices out there, the question is: where do you start? Hopefully, this brief guide can cover some of the main points to look for when hiring an accountant for your business.
This might seem obvious, but in the days of global industry, there is also global accounting. This means as an enterprise you can and may choose to outsource your accounting to go offshore. But is there any real benefit to this? In fact, you’re much better off choosing an accountant close to home. They are going to understand your business needs, the industry and market that you operate in, and most importantly they’ll know the local laws. The legality of finances soon becomes apparent when there may be one or two hoops you have to jump through that you hadn’t considered before.
Keep it Close to Home
The next point about choosing to first and foremost hire a local accountant is that you’ll have face-to-face access for those all-important meetings, whenever you need to have them. Sure, there are always telephone calls and video conferencing, but it’s not quite the same as sitting down and having a discussion with your accountant. Do you really want to drive half-way across the country to have a meeting with your accountant? It makes much more sense to hire a local firm to assist with your number crunching. That means someone based in Nottingham will hire their business accountants in Nottingham, someone based in Norwich will get their accountants from Norwich, and businesses in Nuneaton will find their accountants also based in Nuneaton.
So you’ve decided upon an accountant based in the same city or region you’re based in, but what now? A simple search in the phonebook or internet search will reveal 100s of different accountancy firms operating in a single city alone. Let’s say you are that business based in Nottingham, if you perform a search for local accountants, more than 250 will turn up. Now is the time to start considering the quality of their services. Do they have a good reputation? Are there adequate testimonials provided from other happy customers? Does their price match their quality? These are all questions you should carefully consider before hiring any local accountant.
So now that you’ve narrowed down your search into a) a local accountant, and b) one that offers excellent quality, you should also carefully consider the particular specialism the accounting firm has to offer. Business accounting is a broad category, and whilst many firms will be able to offer a bit of everything, it really is best you go with one who has experience in dealing with businesses that operate in your market place, that way they’ll know exactly the kinds of things you need and are looking for.
The Final Choice
If you can’t decide between an accountant to hire after considering their location, reputation, and specialism, then finally just go with your gut instinct! Often this is the only way to get things moving. If you are an astute business owner, you’ll usually get a good feel of the kinds of business partners you can work with, so going with your gut isn’t a bad compromise at all.