FAQs

How can an accountant help me in my business?

By helping you set up and maintain efficient record-keeping systems
By showing you how to handle payroll
By preparing tax returns and advising you on tax-related questions
By helping you prepare budgets and forecasts
By helping you prepare financial documentation
By helping you determine your current financial picture
By helping you secure financing (including SBA loans) through a banker or other lender
By helping you develop a business plan
By giving you objective help to evaluate the business

What tips do you have for selecting an accountant?

Ask for references
Select an accountant with whom you feel comfortable talking. Like other professional affiliations, your relationship with your accountant is long-term
Avoid the “brother-in-law” syndrome. Select an accountant who is professional and thorough
Try to find an accountant who has some experience in your field

What things do I need to bring with me when I meet with an accountant for the first time?

Bring current business records and tax returns
Bring your business plan
Bring payroll reports and records, if applicable
Don’t be afraid to ask questions
To maximize the results of your meeting with and accountant, come prepared with a list of questions and topics you want to discuss. Bring all paperwork needed to present an accurate picture of your business. Be candid with the accounting professional about your needs.

How can a banker help me in my business?

By providing loan assistant with the U.S. Small Business Administration.
By providing financing for working capital.
By helping you finance equipment.
By structuring repayment terms that match your cash flow.
By offering cash management strategies.

What tips do you have for selecting a banker?

Ask for references.
Look for a banker who really understands your needs. Like anyone else selling a service, lenders compete for your business. Choose one with whom you feel comfortable.
Look for a banker who’s in it for the long term. You’re seeking more than just a loan—you’re looking for a relationship that will last.

What things do I need to bring with me when I meet with a banker for the first time?

Dress and act like a professional. Put your best foot forward.
Prepare and bring detailed personal and business financial statements and tax returns (three years, if possible). These documents should show income and expenses for yourself personally and for any businesses in which you have a financial interest.
Prepare and bring a detailed business plan. This shows the banker you have anticipated most of the potential rough spots and are ready with solutions.
Fill out any forms the banker sends you completely and neatly. It helps the people at the bank evaluate your application efficiently.
To help you prepare for a meeting with a banker, consult the sections in this guide on accountants and lawyers.

How can an attorney help me in my business?

By helping you set up your company (corporation, partnership, proprietorship).
By reviewing proposed lease, sales and other business contacts.
By helping you understand and meet your responsibilities as an employer and to discuss employee benefits and employment contracts.
By helping you understand and meet any environmental responsibilities.
By advising you on tax, zoning, lien and foreclosure matters.
By advising you on collection efforts and bankruptcy, both from the creditor and debtor viewpoint.
By advising you on your relationship with a landlord or tenant.

What tips do you have for selecting an attorney?

Ask for references and resumes.
Interview candidates to determine whether they have the experience and expertise in the areas in which you need help.
Remember that your attorney will act on your behalf. Select someone who understands and can represent your interests.
Look for an attorney who is well-organized.
Make sure the attorney is someone you like and can respect. Otherwise you will be paying for advice you are not likely to follow.

What things do I need to bring with me when I meet with an attorney for the first time?

Bring copies of all documents that will be reviewed, i.e., leases, contracts or purchase agreements.
Bring all supporting paperwork—letters, records, etc. It’s better to bring more than less.
Have a clear understanding of the issues to be resolved and what you want the attorney to accomplish.
Don’t be afraid to ask what other specialties are represented by the firm.
The Florida Bar allows qualified attorneys to state their designation in the areas in which the attorney devotes substantial time, has substantial experience and attends the required number of continuing legal education courses in those areas. Certification indicates that the attorney has practiced for a minimum of five years, passed a written exam in the specialty area, demonstrated substantial experience in that area, and completed approved continuing legal education programs. Not all areas of practice have corresponding designations or certifications available.

How can a business consultant help me in my business?

By streamlining operations and/or restructuring the organization.
By improving controls and understanding of the business.
By providing customized training.
By improving communications and computer systems.
By fostering teamwork among employees, improving morale and reducing turnover.
By showing you ways to increase sales, recapture market share and enhance or increase market focus.
By showing you how to manage more effectively and increase productivity.
By solving cash flow problems and increasing profits.
By developing and writing a business plan.

What tips do you have for selecting a business consultant?

Ask for references.
Try to select a consultant who has experience in your type of business.
Try to find a consultant who has solved problems like yours for other businesses.
Look for a comfortable fit between your personality and the consultant’s.
Remember, you’re paying for the consultant’s advice and suggestions on ways to improve. Don’t take this as criticism. Implement recommendations quickly.

What things do I need to bring with me when I meet with a business consultant for the first time?

Bring all records that pertain to your situation or the issue at hand.
Try to have a clear idea of what you want the consultant to do for you.
Be flexible. Often a consultant will suggest steps that may seem unusual or unexpected to you.
BE as honest and candid as you can about your business.
To maximize the relationship with a consultant, contact him or her as soon as you know you have an issue. This will allow it to be resolved in a minimum amount of time.

How can an insurance agent help me in my business?

By protecting you against risks to your company’s property.
By providing financial means to replace lost assets.
By showing you how to minimize risks.
By updating your coverage to reflect changing needs.
By providing life, health, workers’ compensation insurance and employee benefits programs for you and your employees.

What tips do you have for selecting an insurance agent?

Ask for references.
Choose an agent who will provide you with regular updates to anticipate your needs as your company grows.
Look for an agent who has experience in helping you achieve your goals and objectives.
Select an agent who represents a well-established, financially-sound company with high ratings.

What things do I need to bring with me when I meet with an insurance agent for the first time?

Bring complete business records to help the agent determine what your insurance needs will be.
Bring copies of any old policies—even if they expired.
Bring a list of those companies (such as banks) that require you to furnish them with proof of insurance.
Many insurance companies provide coverage for all your insurance needs, i.e., life, health, employee benefits, property, casualty, and workers’ compensation, while others specialize. Your insurance agent will help you in selecting the company that will provide the coverage best suited to your company’s needs.

SBRN

The SBRN, Small Business Resource Network, helps businesses succeed by connecting them with interested, experienced professionals, service providers and government agencies.

FAQs

About the SBRN

The SBRN Helps Businesses Succeed and Grow