5 minute read

BUSINESS SENSE & SENSIBILITY

Why Use a Business Consultant for Your Business?

A business consultant is an asset to any sized business and is especially helpful for small businesses that are seeking general direction on how to enhance their approach, reach their target audience, and impress the market with a solid reputation. More than demonstrating the dos and don’ts of business, business consultants are trained to offer their expert insights on various workplace matters. You want a business consultant equipped to transform the entire workforce dynamic within a business operation, from the interactions of its staff to its influence in the market. Experienced consultants skilled to assist companies with eliminating unnecessary expenses and executing their sales projections are essential to offering an outside perspective of the business to make effective changes.

Business consultants provide advice and management to help improve the performance and efficiency of your business. For instance, creating solutions in areas of critical importance like finances is incredibly valuable. A great business consultant guides clients to a certified financial professional such as a Certified Public Accountant (CPA). If you have specific business goals related to monetary budgets and projections, or fiscal complications, a qualified business consultant would provide a trained CPA that could offer guidance to execute your plans and resolve any apparent issues concerning your economic matters.  A quality business consultant knows and understands that a CPA’s point of view is crucial to developing your small business and helping it to succeed.

Here are four sensible small business tips as an example of what your business consultant can offer you through an in-house expert CPA: A CPA’s Constructive Advice On Accounting

Tax Season Assistance

Business tax is an important element to record and manage, the perfect task to delegate to a trusted CPA. Your CPA can offer helpful tax advice and an effective strategy to set you up for tax season with the proper filing methods. Properly paying your taxes is essential for your business’s prosperity, so finding a reliable accountant for this responsibility is beneficial. A CPA will organize, prepare, and file your taxes and can even search for ways to cut your costs for the following year. Tax breaks are a bonus with a CPA’s assistance, so prepare to be made aware of deductions like driving mileage that can reduce your taxable income.

Payroll Patrol

All operating businesses maintain a staff that requires payment and with your continual expenses, it is difficult to keep track of every cost. A CPA confirms all your employees are fully paid and consistently monitors your payment activity through efficient payroll software. They handle payroll reports, taxes, and required documentation for this major business aspect to be accurately processed. CPAs possess financial knowledge and resources that will take care of this demand, benefit your business finances, and grant you peace of mind. With the combination of payroll technologies and a CPA’s expertise, this portion will always be fully addressed and maintained.   

The Best of Bookkeeping

In this digital age with an automated bookkeeping system, businesses no longer need a designated bookkeeper to review their expenses, investments, and entire financial statuses. This technology can truly boost your business’ productivity and overall performance in just a few simple clicks. Any qualified CPA can determine the right bookkeeping software for your business and help you develop a bookkeeping method to trace your financial activities with a thorough review. Staying up to date with your monetary movements is imperative for your business to continuously thrive. Integrating a software solution to analyze your books is extremely useful for long-term progress. Also, a CPA will know how to properly categorize your financial information to the income statement or balance sheet.  

Commendable Consulting

Every business owner needs substantial financial advisory. Whether you need economical guidance on occasion or a regular basis, receiving wise counsel when it comes to your business profits and payments is vital. For general questions, serious concerns, or in-depth planning, a CPA is the resource you need to consult with, regardless of the financial demand. Every successful business utilizes a CPA and you can too! As educated and insightful financial experts, CPAs are equipped to offer more than just suggestions; they are there to assist you in every area of your business. From financial ventures and budgeting to potential losses and unrewarding decisions, your CPA can deliver quality service for various financial needs. A CPA should be considered part of your team.  

Courtesy of Beech Hill Consulting Global IT, a professional business consulting services firm specializing in exceptional and creative care to help businesses prosper. www.beechhillconsulting.com

THE LIST

CHERYL'S FAVORITE RESOURCES

Knowing you’re not alone in your business and that helpful resources to take your business to the next level surround you can be a relief. Here are a few of my favorites, from networking to funding.

Goldman Sachs 10k Small Business Program www.goldmansachs.com/citizenship/10000-smallbusinesses/US/#

If you apply, use Cheryl P Williamson LLC as a referral.

Women’s Business Enterprise National Council

www.wbenc.org/certification/

WBENC is also an approved third-party certifier for the SBA’s Women-Owned Small Business (WOSB) Federal Contracting Program.

Lift Fund www.liftfund.com/

Assistance with loans, tools and resources to help entrepreneurs grow their business

Small Business Administration

www.sba.gov

The SBA has worked to ignite change and spark action so small businesses can confidently start, grow, expand, or recover.

www.mbda.gov/who-we-are/overview

Minority Business Development Agency

The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises.

The Walker’s Legacy walkerslegacy.com/

Walker's Legacy is a growing global women in business collective founded to establish networks of empowerment and access for women of color in business.

Black Alzheimer’s Brain Study blackalzbrainstudy.com/

Our mission is to create solutions for a healthier community.

Dallas Entrepreneurs Center

thedec.co

The DEC Network is a 501c3 non-profit organization driving innovation and economic impact by helping entrepreneurs start, build and grow their businesses.

DFW Airport Capacity Building Program Series

www.dfwairport.com/business/opportunities/bdd/capacitybuilding/

As part of our commitment to serve as a catalyst for the growth of small, minority and women-owned businesses, DFW is excited to once again offer the Capacity Building Program series designed to provide business skills training and guidance on doing business with DFW.