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Running a Small Business
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Finding Business Advisors

It's just about impossible to run a small business all by yourself. Even if there were enough hours in the day, you'd have to be an expert in many fields. The smart small business owner recognizes the need for specialized help and seeks out the best professionals to provide it. When running a business, your natural inclination is to try to save money any way you can. But it's unwise to avoid getting good legal advice when you need it. A good small business attorney can help protect you and your business from legal troubles involving licensing, employees, vendors and customers. A good attorney can also help when you're looking for investors or dealing with bankers. Word-of-mouth is one way to identify potential candidates. Ask other small business owners if they would recommend their own attorneys. You also can check with the local bar association or look through legal directories in the reference area of your public library.

When interviewing a prospective attorney, be sure to ask what other types of small businesses the attorney represents and how long he or she has been practicing law. Finally, check with the state bar association to make sure the attorney is a member and is licensed to practice law in the state where your small business is located.

Remember, your attorney needs all the pertinent information about your business to best serve your legal needs.

So when you hire one, be honest and tell him or her all the facts--good and bad--about your business. As your small business grows, you may need to retain a payroll service and an accountant to keep your books in order and to keep current with IRS regulations. Again, ask other small business owners for recommendations. If you have an attorney, he or she may have suggestions.

Retain someone who is compatible with your management style, as well as someone who is good with numbers. And be sure to use this professional wisely. Accountants don't just prepare income tax returns, they help with tax planning and financial reports and provide assistance in securing business loans.

To maximize the assistance you get from your accountant, be sure to discuss your plans and objectives and explain clearly what you expect from the accountant's services. Keep good financial records, and keep your accountant posted on changes and new directions in your business.


 
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