Empower Your Business

Accounting is Just the Beginning

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Where To Go for Business Advice?

A recent business survey had an interesting section on where business owners go for advice:

64% Accountant/Bookkeeper The score this option gets is well-deserved, subject to the accountant being an experienced old-hand with SME’s and not just one who churns out tax returns!
32% Business
Associates/Other Business People
If they’re experienced and running a successful business, yes a good idea. However, in some cases it’s a case of the blind leading the blind! (I hope that saying is still OK to use these days!)
26% Bank Managers/Advisers Traditionally this was a good option, as bank advisers see the good and bad in all sorts of businesses and also know trusted advisers to refer to.
However, they are still employed and therefore lack that key experience of running their own business. In addition, given the banking
industry’s desire to reduce their payroll costs many bank managers are a bit wet behind the ears these days!
17% Business
Mentors/Advisers/Coach
Excellent idea, provided they are providing value-for-money advice and are suitably experienced. The best are often free (other than the $100 registration fee).
See: www.businessmentors.org.nz I am a volunteer Business Mentor with this excellent government sponsored body.
17% IRD On tax, yes, and even then with a slight bias one would have thought! There is no grey with the IRD, just black and white, until they do an about face and change their minds about something! Are they going to point out all the deductions you haven’t claimed?
13% Don’t ask for help Knowing small business owners well, I’m surprised this is not higher. Fear of incurring costs, too laid back, an attitude of what is going to happen will happen anyway – they’re all alive and well!
8% On-line Interesting this, as it’s bound to grow leaps and bounds over coming years as the amount of useful information on the internet doubles every few years. US web-sites in particular have a huge amount of useful business advice and tips on hundreds of business topics, all for free.
6% www.business.govt.nz Yes, there is some useful information on here but it’s a bit basic and too impersonal.
6% Chamber of
Commerce
Useful, especially as the Chamber of Commerce will be able to put you in touch with trusted advisers in all fields of business.
4% Software
Provider
A strange one this! On their software, yes, but otherwise?

If you need advice in your business contact Nick on 0800 ASK NICK or email nick@abac.co.nz