No matter the age or scale of your small business, seeking various types of advice can be beneficial. Engaging with professionals such as accountants, business mentors, and industry connections can assist you in:
- Solving problems
- Generating and discussing ideas
- Enhancing your skills and knowledge
- Identifying additional support when required.
The following are common business topics paired with the types of advisors who can provide valuable guidance to alleviate the burden.
I want to better understand my finances
Advisors can provide assistance if you relate to one or more of the following:
- I want to check if my concept is financially feasible.
- I need assistance to manage my daily finances and cash flow.
- I want to minimise my taxes and maximise my profits.
- I’m considering exploring funding options to expand my business.
- I’m thinking of selling my business and would like to determine its value.
- I need help to manage my debts.
How much money do you need to start a business
Introduction to business finance
Choose the right types of funding
Who can help:
- Accountants
- Bank managers
- Bookkeepers
- Budget advisors
- Business mentors
- Commercial lawyers
- Financial advisors
- Insolvency advisors
- Inland Revenue community compliance officers
Tip
Even if you are self-employed, it is unnecessary and unwise to navigate the business world alone.
Make use of the extensive community of business advisors, consultants, and support networks that are available to assist you and your business.
Can I turn my idea into a business?
Advisors can offer valuable assistance if you wish to delve into one or more of these inquiries:
- Does my idea address a problem or meet a demand? Does it possess a unique selling point?
- Who are my competitors, and is the market size sufficient for my concept?
- How feasible is it to launch my idea? Do I possess the necessary skills and resources?
- What’s the best way to raise the money to get started?
- Can I meet expenses and generate a profit?
Questions to ask yourself before you start
Developing your unique selling point
How to research your market and competitors
Choosing the right types of funding
How much money do you need to start a business
How business advisors can help
Who can help:
- Bookkeepers/ accountants
- Business advisors (business specialists)
- Business coaches (action-oriented)
- Business mentors (general knowledge, guidance)
- Financial advisors
- Industry networks
See also:
How business advisors can help
Regional Business Partner Network
I want to protect my business, assets and people
Advisors can provide assistance if you find yourself in one or more of the following situations:
- I need guidance on registering my business and staying compliant with licenses and approvals.
- I want to safeguard my most valuable business assets.
- I would like to identify, register, and protect my intellectual property.
- I need to stay updated on health and safety matters.
- I want to ensure I hire top-notch personnel and fulfil my obligations as an employer.
- If I choose to purchase another business or sell my own, I seek assistance to secure the best deal possible.
Registering with government agencies
Common business asset checklists
Simple steps to protect your intellectual property
Buying a business or franchise
Who can help:
- Accountants
- Business mentors
- Commercial lawyers
- Employment lawyers
- Employment mediators
- Health and safety advisors
- HR advisors
- Industry networks
- Insurance brokers
- Intellectual property and patent attorneys
- Recruitment consultants
- Risk consultants
Tip
Don’t underestimate the potential return on investment that comes with seeking professional advice.
Advisors can assist in addressing any gaps you may have in terms of skills, time, and resources. They will also support you in developing and sustaining a thriving business that aligns with your desired scale.
How can I grow my business?
Advisors can provide assistance if you can relate to one or more of the following:
- I want to validate my ideas and strategies.
- I strive to enhance my work-life balance.
- I want experienced people who have walked in my shoes to be my sounding board.
- I am eager to develop my leadership skills and business acumen.
- I would like to explore opportunities for innovation, expansion, or diversification.
- I have an interest in exporting my goods and services in the future.
What you need to know about exporting
Who can help:
- Advisory boards
- Boards of directors
- Business coaches (action-oriented)
- Business mentors (general knowledge, guidance)
- Incubator and accelerator programmes
- Industry networks
- Management consultant
See also:
New Zealand Chamber Network — Chambers of Commerce
Selling through e-commerce — Ministry of Primary Industries
New Zealand Trade and Enterprise
Regional Business Partner Network
How can I develop my skills?
Encourage your team to learn and develop new skills so they can make a greater contribution to your business. You can explore training options and receive assistance in selecting appropriate courses.
Study and training — Connected.govt.nz
Free training for Kiwi small businesses — Digital Boost
Furthermore, you can seek the guidance of advisors to enhance your own leadership abilities and understanding of business.
Who can help:
- Advisory boards
- Board of directors
- Business coaches (action-oriented)
- Business mentors (general knowledge, guidance)
- Incubator or accelerator programmes
- Industry networks
- Management consultants
See also:
New Zealand Trade and Enterprise
Regional Business Partner Network
How can I establish effective systems, both internally and for expanding my customer base?
Advisors can provide assistance if you find yourself in one or more of the following situations:
- I need support in establishing and managing effective digital systems.
- I want to be equipped to address any technological challenges I may encounter.
- I aim to expand my customer base through targeted marketing strategies.
- I am eager to develop and strengthen my brand’s identity.
- I constantly seek ways to optimise and maximise the use of my time.
Who can help:
- Branding specialists
- Business coaches (action-oriented)
- Business mentors (general knowledge, guidance)
- Digital strategists
- Graphic designers
- IT consultants
- Marketing consultants
- Remote tech support
- Virtual personal assistants
Expert view
Getting professional advice
Tax expert John Shewan advises businesses of all sizes to seek professional advice, particularly in the areas of tax, compliance, and dealing with Inland Revenue. Collaborating with advisors can bring numerous benefits.
However, engaging with a professional advisor requires active participation from your end. To make the most of their expertise, you must prepare adequately and maintain an open and receptive mindset.
“You do that by asking them the right questions, by making sure you’re prepared and willing to be absolutely open to them,” Shewan says.
“My advice to people is to spend a lot of time preparing before you go and consult with a lawyer or an accountant. Get maximum value out of the time. Make sure you put the pressure on them to deliver value to you.”
Small businesses and self-employed individuals should not assume that they are excluded from accessing comprehensive professional services due to their size. Many accounting firms offer specialised services tailored to the needs of small and medium-sized businesses.
“It’s a little bit of a fallacy that the big accounting firms only look after big clients, that’s not the case,” Shewan says.
Are you struggling with accounting and business management for your business? We are here to help! Get in touch with us to discuss how our expert services can support your business’s success. Contact us today to schedule a free consultation and see how we can add value to your operations. Please find us on Facebook | Linkedin | Instagram – Follow us and give us a like to see more updates and news.