Starting a new business is about one of the most difficult efforts you can take on. As you may very well know, a lot of new businesses fail completely. If you want to succeed, you’re going to need some help. This help may come from professionals outside your own company. Having such people on hand can help your business survive and grow. Below are some examples of such professionals.
A CPA
One professional you need to have on hand is a certified public accountant. Starting a business is a very technical matter, and one of the most complicated aspects of any business is its finances. Unless you want to fall afoul of the IRS, you need to work closely with a CPA. A CPA can help you with things such as accounting, taxes, audits, business valuation, financial management, and compliance with a thick volume of business financial rules and regulations.
An Attorney
Second, you will need an attorney on hand. A business, of course, is a legal entity in and of itself. The number of laws you have to follow as a business owner on the federal, state, and local levels can be quite voluminous so it’s best to have a professional on hand who can assist in navigating everything you need to be aware of. You should have an attorney working for you the moment you found your business. In regards to founding your business, according to legal firms like the Carter West Business Law Firm, you need legal help in regards to startup counseling, the formation of a legal business entity like a corporation, employee contracting, founders’ agreements, and more. After you start your business, you’ll need more advice to conform to the law, avoid lawsuits and protect your business interests.
Insurance Agent
There’s a lot that can go wrong in the running of a business. Without business insurance, you are likely to be forced out of business by these threats. Business insurance can help protect you against things like fire, theft, natural disasters, lawsuits, and more. You’ll need health insurance and workers’ compensation insurance for your employees. Without things like litigation coverage, you could be forced out of business the first time someone launches a lawsuit against your company. You really can’t do without it in the modern marketplace.
There are of course other professionals you may work with in addition to CPAs, lawyers, and insurance agents. These can include business mentors, consultants, web designers, recruiters, and more. Overall, choose the professionals you will need to make your business successful. While you may want to, it’s really impossible to do it all on your own as a business owner.
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