Why small businesses need the best solicitor around

I constantly remind clients that you need to engage the best accountant, solicitor and bank manager to be successful.

The chief auditor of the CPA told me that engaging the services of an accountant can make a 15 per cent difference to your business. He also said that you must this maintain independent advice, as this can have big effect on your business.

Your bank manager can assist with growth and you should always keep them up to date on current issues. This can have a 10 per cent affect.

The most important connection, however, is your solicitor. Don’t use different ones. Select one and stick with them, as I’ve had the same one for 10 years dealing with employment issues, complex ATO issues that require a second opinion and chasing debtors who don’t pay, as well as my conveyancing. It’s been invaluable, and I would estimate it’s worth 20 per cent.

This is 45 per cent help on your business – just think about that. I know some businesses that solicitors and I have helped 100 per cent, as we saved their business.

When it comes to a solicitor, we recommend they are qualified in business as well as law. Cherry-picking services will only go so far, but if you want to be on their preferred client list, consider using more of their services.

How do you select them? Consider engaging the services of TaxAssist Accountants, as we are the one-stop-shop for small businesses. Not only can we look after your accounts, we and can put you in touch with the right service provider for you.

Visit one of our TaxAssist Accountants branches today for more information.

By Terry Murphy CPA
Last updated November 2018