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Types of advice you’ll need

You have a lot to think about if you own or operate a business — but you don’t have to juggle everything.

Here are some things that might be top of mind for you, and the advisors who can help alleviate the load.

Even if you’re a sole trader, you don’t need to — and shouldn’t — go at it alone.

Even if you’re a sole trader, you don’t need to — and shouldn’t — go at it alone.

Lean on the wide community of business advisors, consultants and support networks available to help you and your business.

How can I be financially astute?

Who can help?

  • Bookkeepers
  • Accountants
  • IRD community compliance officers
  • Financial advisors
  • Budget advisors
  • Bank managers
  • Commercial lawyers
  • Business mentors
  • Insolvency advisors

Use this tool to test whether your business idea is feasible — and check for potential risks before you go full steam ahead. This will help you get an idea of whether your idea for a business will make enough money to cover the costs and show a profit.

How can I protect my business, assets and people?

Who can help?

  • Commercial lawyers
  • Industry networks
  • Insurance brokers
  • Accountants
  • Health and safety advisors
  • Risk consultants
  • HR advisors
  • Recruitment consultants
  • Employment lawyers
  • Employment mediators
  • Intellectual property and patent attorneys
  • Business mentors
Don’t underestimate the potential return on investment of getting professional advice.

Don’t underestimate the potential return on investment of getting professional advice.

Advisors can help fill significant gaps you may have in skills, time and resources. They’ll also help you build and maintain a healthy business.

How can I grow my business and develop my capabilities?

  • I want to validate my ideas and strategies.
  • I want experienced people who have walked in my shoes to be my sounding board.
  • I’m keen to develop my leadership skills and business acumen.
  • At some stage, I’d like to explore my opportunities to innovateexpand or diversify.

Who can help?

How can I put good systems in place — both internally and to build my customer base?

  • I need to set up and maintain some good digital systems.
  • Being able to easily resolve any tech issues I encounter is important to me.
  • I want to grow my customer base by marketing to the right people, at the right time, in the right way.
  • I’m keen to build my brand’s identity.
  • I’m always looking for ways to make the best use of my time.

Who can help?

  • IT consultants
  • Remote tech support
  • Marketing consultants
  • Digital strategists
  • Graphic designers
  • Branding specialists
  • Business mentors
  • Business coaches
  • Virtual personal assistants
GettingProfessionalAdvice

Expert view

Getting professional advice

Tax expert John Shewan recommends businesses of all sizes seek professional advice. Small businesses shouldn’t count themselves out of large professional service networks just because of their scale. Many large accounting companies offer in-depth services to 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.

There are lots of benefits to working with advisors, particularly when it comes to tax, compliance and Inland Revenue.

But working with a professional advisor is a two-way road. You need to prep and put in work to make sure you’re getting the most from your advisors.

“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 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.”

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