December is a time for reflection and business owners often spend a little time and/or thought at this time of year on how the last 12 months has progressed. What went well, what could have been better and how could they have improved on the results achieved.
Taking a good look at the support services around the business can be an important part of this process. Understanding what the business should expect from these services is a great starting point when working out whether any improvement could have been achieved.
Getting a good service from your accountant is a critical part of the foundations to ensuring the business has the best chance of financial success and indeed a great chance of survival if things aren’t going so well. Yet so many business owners assume that the services all accountants provide are the same and do not know what to expect to ensure they receive the best service for their needs.
Working with a good accountant can help your business grow and can also save you time. Working with an accountant that is not a great fit for your business could, on the flip side, cost you much needed time and money.
Business owners that benefit the most from their accountant will tell you that the key element for making a decision when hiring an accountant is how they will add financial value to your company. They look for someone who can act as a business partner and who can demonstrate the skills and knowledge of supporting a small business.
So when it comes to making an informed decision, is there a tick list that a business owner can use to help support the right decision? Not as such, however some of the most important questions that should be taken into consideration are listed below:
- Check their qualifications to ensure they are regulated by a professional body.
- The main two to look out for are the Institute of Chartered Accountants in England and Wales (ICAEW) and the Association of Chartered Certified Accountants (ACCA)
- Speak to other business owners and get trusted opinions.
- Experience is worth so much more than trial and error, gathering trusted experiences and opinions helps to speed up the process.
- Read the testimonials from the accountants’ clients.
- People are generally happy to share their pleasure when they have received a good service and a testimonial page can give a great indication of how satisfied the current clients are.
- Understand what you are looking for outside of standard Year End Accounts filing and ask whether they can support you in that area.
- There are many others areas of support that accountants provide, remember to check they have the capability to meet those needs.
- Check whether you are a good match.
- A good match for your business will have more than prestige, they will understand small business needs and will be able to offer relevant insights.
- Check their engagement levels.
Accountants do offer different levels of engagement, so it’s important to check how often you’ll be in contact, and whether you can communicate by email or telephone, how often and with whom.
Here at Keen Dicey Grover our clients are not just numbers to us – every one of them has different objectives and targets which we aim to help them to reach. The process of continuous communication is of utmost importance to us. We welcome your calls (and don’t charge you for speaking to us) so you can always get an answer to your query.
As all small business owners know, the financial red tape encountered in the day to day running of a business can often become a drain on precious time and resources. Our services are specifically designed to minimise the hassle this can cause and free up your time, allowing you to concentrate on what matters most to you.
Keen Dicey Grover
We care….. we really care.