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The importance of business advice

A company must have a risk map and a clear strategy on how to solve those problems that can happen only by the passage of time or by the growth of its operations; and one of the most important is undoubtedly a work strategy.

There are many business problems that can be prevented with good business advice, especially in a small or medium-sized company. To avoid major problems that arise in the company due to time, priorities or lack of knowledge, it is necessary for the employer (especially the small and medium-sized company) to have a human resources advisor, such as a lawyer in labor matters, a professional to legal issues, an accounting advisor who will indicate which are the strategies to follow to avoid legal, accounting or administrative problems.

business advisor

But what advice I receive?
Below we will share the types of advice necessary to avoid these problems and their reasons:

Accounting Advisory

Having an accounting advisor is not an obligation, but it can make your life easier and avoid major financial problems within your company, it is not necessary for the advisor to be in the company full time, you can request their services when you need it. Here are some reasons to hire accounting advice in your company: 

1. To develop your business plan

You have heard about the importance of having a good business plan, as well as the importance of having a realistic investment and financing plan. Your credibility is at stake. An accounting consultant can help you balance that point of realism that we sometimes lack when we start making projections. 

2. To establish the legal form of your business

Self-employed, Limited Company, Cooperative, Public Limited Company ... Not all businesses have the same legal structure. An accounting advisor can explain all the differences and help you choose the legal form that best suits your business idea.

3. Before your accounting control you

Even in the smallest businesses there may come a time when accounting gets big for us and there is no billing and accounting program that can do the job of an accounting consultant ...

In these cases, it is convenient to delegate part of the tasks to your manager so that he is the one who takes care of the heaviest part. And that is not incompatible with a billing program: your advisor can benefit from it to streamline work.

A professional analysis can not only help you know where you are (financial) in your business. It can also help you to know how to invest your resources, if you have enough resources to invest or if it would not be best to put your accounts in order and leave the investment for another time.

4. To deal with the Administration

An advisor will help you to have all the "paperwork" in order and how to respond to each of the Administration's requirements.

But not only that. It will also help you keep up-to-date on legislative issues that may affect your business such as tax or labor reform, as well as knowing what steps to follow when you are going to hire / fire a worker, make a purchase, expand your business or (Why not?) Sell it.

5. When you go to make important decisions

An "important decision" is a generic expression that can include many things. And so it is:

  • Apply for a bank loan or a grant;
  • Adapt to the growth of your business and all that it may imply (new employees, new machinery, new partners, new legal form);
  • Launch new products or services;
  • Buy a franchise
  • Buy another company
  • Sell your business

Ultimately, these are decisions that can change the course of your business and affect its financial structure.

An advisor will not only teach you how to make those decisions, but will make you see the "fine print" in each step: for example, if you are going to request a bank loan, an advisor can explain to you which types of interest are the most favorable for you. deal.


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