Buying A Business
Here are some things to think about when hiring an accountant:
1/ Ask other business owners who their accountant is. Ask your bank manager and financial advisor for recommendations. You may have a personal tax accountant; ask them for help (if they are qualified to deal with helping you to buy a business). Accountants normally specialize in different areas and industries, so you want an accountant with experience in your area. Keep a list.
2/Decide what you want an accountant to do for you. Do you want them to do the books, your taxes and give financial advice? Help you with buying a business? Maybe you just want them to undertake your business taxes?
3/ Once you know what you want from an accountant, start contacting the accountants on the list. Tell them what you are looking for and ask about their qualifications and experience.
4/ Are they easy to contact and do they return calls promptly? When you are buying a business you don’t want to be waiting around for your accountant to return your call – it could lose you the business.
5/ When talking with prospects look at how they speak with you. Are they easy to understand, or are they confusing? Your accountant needs to communicate with you easily and in a way you understand.
6/ Ask about their fees. You want to know what it is going to cost upfront.
Once you have all the information consider each carefully and take your time making a decision.