There are reportedly 30.7 million small businesses in the US. As a small business owner, it isn’t uncommon to wear many hats to run your business successfully. However, hiring a professional makes sense most of the time since you will waste much of your time attending to issues outside your core business focus without one. In addition, specific projects will require expertise you and your team may not have.
Here are four professionals worth working with to make your entrepreneurial duties easier.
Certified Public Accountants (CPAs)
The National Association of State Boards of Accountancy (NASBA) estimates that there were 669,130 actively licensed CPAs in the country as of August 24, 2021. Your small business needs a dedicated financial advisor, mainly for tax purposes. As such, it is crucial to hire a CPA to assist you with taxes and personal financial planning. A CPA can also help with accounting, auditing, compliance with various laws and regulations, business valuation, and other areas of financial management to save your business money. CPAs pass more rigorous state licensing, so these professionals are preferable to general accountants.
Lawyers are essential professionals you must hire for your small business right from the start since their input is invaluable in getting your business off the ground. For instance, choosing a business structure is necessary when setting up a business. Also, you may need help with filing state registrations or articles of incorporations, depending on what business structure you choose. Having a lawyer can help you navigate these essential processes at the genesis of your enterprise. Furthermore, your lawyer can help you draft employee, customer, client, or vendor contracts that are in your best interest. In addition, your attorney can represent your business throughout a wide range of litigation battles. However, it is essential to partner with the right law firm to obtain the best legal advice and representation, so keep this in mind.
When expanding your business or hiring new talent, recruitment is a necessary but time-consuming task that you must perform. Glassdoor estimates that the average interview process in the country takes almost 24 days and can last as long as 60 days depending on your location and industry. Thankfully, recruiters can handle the entire process of finding and screening applicants. As the final decision maker, you will only meet with competent and vetted applicants, saving you precious time and money. Also, recruiters are typically paid on a per position filled basis, so you only have to pay when you need to hire new staff, a win-win for any budget-conscious entrepreneur.
There is no denying that every enterprise needs various insurance policies depending on a wide range of factors like industry and location. Consequently, it is prudent to partner with independent business insurance agents since these professionals understand your unique operations and the type of coverage you need. In addition, your insurance agent can help secure quotes for the right coverage, assist you in understanding and purchasing policies, and ensure adequate protection.