We would all like to think that we know what’s best for our businesses, our futures and ourselves. However, in the sticky, tangled world of finances, one really bad decision can ruin a lifetime of work. A financial advisor can help you navigate through the tricky moments by offering knowledgeable, real world financial advice in the moments when you need it most.
Unlike an accountant or bookkeeper, which focuses on ‘the books’ – just one aspect of a business – financial advisors have a wide-ranging wealth of knowledge from which to tap. With their sites set exclusively on the growth and development of your business, they can help you forecast how to approach major business decisions, and whether to dive into them at all.
Expanding or Establishing a Business
If you are considering starting a new business or expanding an existing one, an advisor can offer real world analysis that includes things such as current and future industry trends, that will help you assess whether or not now is the time to invest time and money into a new venture.
Structuring
If you already have a business, but would like financial advice on the best ways to restructure it in order for it to run as efficiently and fiscally prudent as possible, a financial advisor can help you do that. By seeking the advice of a financial advisor, you will also avoid the common pitfalls and expensive mistakes that are often made by business owners who try to go it alone.
GST Advisory and Taxation Planning
Taxes are confusing for everyone. Even if you have a tax accountant in place, it is important to consult a separate financial advisor to maintain a fresh perspective. After all, your tax accountant may know how prepare your taxes, but his or her specialty may not be as broad as you need it to be, and he may not even offer in depth advisory services. With a financial advisor, it is their job to dispense financial advice, not prepare taxes.
Why hire a financial advisor? It simply makes for good business, and they will dispense the financial advice you need to help your business grow in ways you never imagined.