When you think about the number of start-ups that fail in the first year of business, and when you consider all the challenges entrepreneurs face, it becomes clear to me that we must change the mindset of start-up businesses to realize the importance of working with an accountant. Does an accountant cost money? Yes, of course, which is probably one of the deterrents entrepreneurs see when considering utilizing a professional accountant. However, I prefer to look at it as an investment, not an expense. Entrepreneurs often don’t have the knowledge of the scope of work an accountant can perform.

Think of an outside accountant the same way you would a longtime friend, as a trusted source of information and advice, but when it comes to your business finances they likely have a lot more expertise and experience. An accountant’s scope of work does not end with tax preparation; they can and should be a year-round business partner that can lend expertise and perspective in your industry to help your business grow and navigate through an uncertain economy.