An army of specialists for small business

SMALL business is about being a jack of all trades, but as you get bigger you'll need to know who to call on. Here's your ultimate array of experts.

small business

FINDING key people will help you keep your eyes on the prize, writes Claire Heaney

As your business takes those teetering first steps, you’re the jack of all trades – promoting, selling and managing it all.

But if it takes off you’ll struggle to keep it together, so who are you going to call?

Hayes Knight’s Vito Interlandi says wise business owners have a business plan.

“This will give a blueprint for where they are going, who they need and how they will do the things they hope to do,” says the accountants/advisers director.

The gaps will be filled by a combination of direct employs and contractors. Interlandi says people need to be clear about their motive.

“Are you starting the business to give yourself a job or are you planning to take on the world?” he says. “It’s an important consideration as to what the business may look like down the track and what personnel you may need.”

BOOKKEEPER

Institute of Public Accountants senior tax adviser Tony Greco says businesses need someone to code daily transactions and reconcile accounts.

“Some enterprising owners have taken on this task themselves with the aid of some clever software,” he says.

“Others use the services of a bookkeeper as they do not have the competence or time to devote to this task.”

ACCOUNTANT

As businesses constantly deal with the Australian Taxation Office, an accountant is vital.

“Some 95 per cent of businesses use an accountant for most of the tax compliance tasks.” Greco says.

LAWYER

“Before they sign any important document, such as a lease, it’s best that they have someone review such documents to protect them from unexpected surprises that lurk within contract clauses,” Greco says.

A lawyer will help with the structure of the business, especially if you wish to take on partners or merge. Trademark, copyright, intellectual property, consumer and employment laws also need to be covered.

BANKER

Get friendly with your bank manager before you need to.

Interlandi says an accountant can help tailor the banking services you need.

SECOND IN CHARGE

He says business owners should be organised so they can work on the business and not in it.

“If this means that you need an assistant, then consider employing someone who can fulfil the role,” he says.

MENTOR/COACH

It’s lonely work. Depending on the size of the business, you may wish to get a mentor, join an industry body or hire a coach.

LOGISTICS

No matter what size your business is, you need to know how you are going to get your goods to your customers.

Interlandi says small businesses can learn from their bigger and more experienced suppliers about logistics.

HUMAN RESOURCES

Once business owners start employing people they need to be across workplace laws, Interlandi says.

“Employer groups run very good seminars on employing staff, so I would recommend that people sign up for them.”

MARKETING

Getting help, either inside or outside the business, to cover social media, building a website and doing letter drops in the neighbourhood is essential.

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PROS HELP PLY HIS TRADE

Getting his speciality plywood, favoured by boatbuilders, architects, shopfitters and guitar maker Maton, to his customers was proving problematic for David Garvey.

“For a long time we ran our own vehicles, one large and three small trucks, but we got to the stage where there were people away sick, on leave, on rostered days off or whatever, and everything came to a halt,” he says.

Garvey, the owner of Plyco, says often he was forced to jump in the truck and make deliveries, taking his attention away from the business. After shopping around, he settled on a deal with logistics company Ontime Group.

Under the arrangement with Ontime, Plyco has access to a truck and a driver between 8am and 5pm, 48 weeks of the year.

If, for whatever reason, something happens to a truck or driver, Ontime will find a replacement.

Garvey says there is not much price difference, but it provides a sense of security to know deliveries will be made on time.