Tips for Selecting Your Ideal Support Team

October 22, 2015
Tips for Selecting Your Ideal Support Team

Discover the professionals that will help you reach business success.

Starting a new business is a challenge that requires a good support team. You may be an expert in your business field, or perhaps you have some basic knowledge of accounting, banking or law. Nevertheless, it is advisable to consult with an expert in each of these areas to maximize your company’s success and avoid legal problems. Some advice to help you select the best possible support team is presented next:

The bank officer: When selecting your banking institution analyze the range of services it offers, the location of its branches -to facilitate the deposits and management of the business- and the bank’s experience with your type of business. Before opening an account, assess the account service charges to avoid surprises along the way.

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The accountant: Hiring an accounting professional is really important for your business, particularly in its early stages. When you are preparing the business plan, the accountant can help you identify possible high expenses or expenditures that you may not have foreseen. Before hiring an accountant or firm, take your time to interview the person so you can be comfortable with their expertise in your business area. To maximize your investment, negotiate a service package that includes the bookkeeping, taxes and management consulting.

The lawyer: Your lawyer will be a key figure in all the stages of your business: from selecting the type of company that you want to establish to the evaluation of your lease or personnel contracts. He or she should have vast experience in your industry. Your lawyer will be your confidant; therefore you must feel comfortable with his or her capacity and have good communication.

Communication and teamwork with these three professionals will help you to comply with banking, accounting and legal requirements that would maximize the probabilities of your company’s success at long term.

This article is for informational purposes only and does not constitute an endorsement or guarantee of accuracy or applicability for any particular purpose. Neither Popular nor any of its affiliates, subsidiaries, or related companies shall be liable for any special, direct, or indirect harm stemming from the information contained in this article. Should you require further information or guidance on the subject of this article, you should always seek the advice of a competent professional of your choice.

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