How to Choose the Right Accountant for your Business?

When you are first starting out with your business you are eventually going to get to the point where you need to hire an accountant to make sure that all your financial obligations to the Government where you operate are met.

Making sure that you choose the right accountant from the start can make all the difference in helping your business flourish and succeed. Also, making sure that you have an accountant when you need one can be incredibly beneficial; if the time comes to need an accountant and you don’t have one then that can be an incredibly time-consuming and even costly problem to deal with. 

There are many factors that you will need to take into consideration when choosing the right accountant for your business.

The first and main thing for you to consider is making sure that they are qualified to be even doing your taxes in the first place. It’s a good idea to hire an accountant that is qualified and experienced to be handling the taxes for the country that you operate in; if your business is set up in England then Omer & Company could be useful. 

It could also be a good idea to think about hiring an accountant that is a specialist in the industry that you work in. Different niches of business have unique tax requirements; so, hiring someone that is specially trained and experienced in handling the unique tax circumstances for your business might be beneficial. This isn’t a hard requirement though as many generalised accountants will still be qualified to handle your business’s needs. 

Another big thing to consider is budget. You need to determine how much you are able and willing to spend on an accountant. While an accountant will be an asset for your company, spending more money than you can afford will definitely not be helpful. However, not spending enough on the best accountant for the job might cost you more money in the future. It is about finding the right balance that works for you and your business. 

One thing that is highly recommended that you do when picking out an accountant or firm is that you don’t just go with the first person you talk to. You might not particularly enjoy interviewing many potential accountants but speaking to as many different options and weighing all the pros and cons will help you in hiring the right person or people for the job. 

If you are able to, another useful thing that you can do is think about getting a referral from someone that you trust. Not everyone will have people in their life that have been in similar situations to them but if you are able to get advice from someone whose recommendation that you value, then you might be able to use that to your advantage. One thing to consider with this though is that what works for one person might not work for you. If you go with someone's advice and it turns out not to be right for you then don’t hold on to them out of sentiment, you need to do what is right for you and your business. 

Choosing the wrong accountant can be a headache just waiting to happen, so taking the time to really consider your options and make the right choice for you is so crucially important to your business's success. Also, some of this might be trial and error; if you find that something isn’t working for you then you always need to be able to address the problem and make any changes that might be required.