Many years and countless hours of preparation and planning go into a new business. Entrepreneurs know that the odds are stacked against them, especially in this economy, but they proceed anyway because they’re convinced that their talents and knowledge will carry the day. Every aspect of the business is planned and success seems assured at the outset. What’s shocking is that even with this amount of preparation and planning, some decisions are made on a whim and those can be extremely costly.
In the Northeast, there are a multitude of options for looking for a good Boston accounting firm. Some specialize in large corporate accounts that require hundreds of employees to balance the books. Others work with tiny businesses that only require minimal paperwork. Deciding which to go with is extremely important because a mistake in how the business’ finances are handled can be disastrous. It’s critical to find a Boston accounting firm that has experience in working with the IRS on behalf of small start-ups. The IRS has different divisions and tax codes and finding an expert in the right area can pay for itself many times over in avoiding an audit and resulting penalties. Of course, there are fiscal issues that creep up that an experienced hand can help guide a new businessperson through. The problem is that a lot of Boston accounting firms can handle these issues. The trick is in finding which one will work best with you and want to help you succeed.
It seems odd to suggest that a Boston accounting firm wouldn’t want their client to succeed because if the company goes out of business, there is no revenue for the firm to receive. But new businesses have a lot of questions and some Boston accounting firms are too busy and can’t take the time to hold their client’s hand and walk through issues they may have dealt with hundreds of times in the past. For that reason, experience alone isn’t a guarantee of a successful relationship between a Boston accounting firm and their client.
That said, a good rapport with the Boston accounting firm isn’t the only way to find a good relationship. Finding a Boston accounting firm is critically important and working with a company that doesn’t have a good deal of experience in a particular industry isn’t advisable. Many Boston accounting firms suggest that accounting is accounting and that working with a diner is no different than working with a bank. That isn’t true because each industry presents its own challenges.
It is also recommended that new businesses attempt to find Boston accounting firms that worked with, and have references from, a lot of start-ups. The relationship between client and firm is important and this is where the customer service aspect is often overlooked. A big Boston accounting firm may not have the patience to work with a brand new company and a better option may be out there. It is definitely worth the time to pursue finding a Boston accounting firm that will take the time to answer questions they may find easy otherwise.