Shelley Nairn: Get good advice first

Shelley Nairn

Many people running a small business choose to make strategic decisions by talking with their family, going on gut instincts or throwing out ideas around the barbecue with some friends.

It's not hard to see why that style of choosing options might not give you the best outcomes.

When you're a small business, watching every dollar, it's not surprising that the idea of getting expert advice for your key business decisions is something you might reject as being too expensive or that it could make you feel vulnerable because your business is being opened up for scrutiny.

The benefit of that experience means a small business owner can access information that could have taken them years to find out.

Shelley Nairn

Larger businesses know the value of sound advice from somebody independent. It also means that they don't have to carry the cost of specialists in house, but can buy those specialists' services and knowledge as and when they need them.

As business advisers, we often find that when we start talking about people's business challenges, they soon realise that an independent adviser has a wealth of experience gleaned from many years of helping a wide range of businesses — different sizes, structures and sectors.

They also are up to date with the latest legislative changes and requirements.

The benefit of that experience means a small business owner can access information that could have taken them years to find out. An independent adviser's expertise also means they can prepare a business owner for the challenges and opportunities that lie ahead, depending on where in the life cycle of a business they are.

While cost might put you off seeking advice, I'd like to point out that many times when someone comes to us for help with a problem after it has occurred, we find out that if they'd only invested in some consultation much earlier, they would have saved themselves money and stress.

At Crowe Horwath, we have transparent pricing and a huge number of specialists in this region and as part of our company nationally, so you know you will always get the best and most relevant advice for your particular business situation.

When you start out, it's crucial to know how to structure a business. When you're growing, you can really benefit from knowing just how to do that without putting a strain on your resources.

What have you got to lose? Get qualified, independent advice before you make those big decisions.

For more information email shelley.nairn@crowehorwath.co.nz or phone 06 858 5540. This information is general and readers should seek specialist advice before making financial decisions.