Experts and Professionals Needed to Run a Small Business

Depending on the type of business you are creating, starting a small business can be daunting. Many areas of expertise and tasks need to be addressed, and handling them all yourself can become overwhelming. Some things may be in the areas of your strengths, but others may be outside of your wheelhouse. When starting your business and as it grows, your time may be better spent on high-value activities that help generate income for your business. Time-consuming tasks that don't generate much revenue or areas outside of the extent of your proficiency may be better off being outsourced to qualified professionals.

The following are some of the most beneficial experts and professionals needed to help run a small business. You should consider including them on your "success team."

CPAs

A Certified Public Accountant, commonly known as a CPA, is a state-licensed and certified accountant. A CPA can help you with your taxes as well as a wide range of other financial areas such as corporate finance, financial analysis, financial planning, venture capital, audits, etc. While many business owners are capable of doing their own accounting, a CPA's expert knowledge can be leveraged to save you valuable time and greatly assist your business in financial matters, such as finding all of the available tax breaks your business qualifies for.

Insurance Agents

Insurance is one of the primary areas in business in which it is vital to "get it right" by hiring a professional. Depending on the specific company, there will be various areas of the business that will require insurance. A Business Insurance Agent can help you determine the areas in which you will need insurance coverage and will assist you in getting that coverage at the best prices and with the best policies. These areas could include liability insurance, property insurance, business income insurance, data breach insurance, etc. These various aspects related to your business may require multiple insurance policies from different insurance carriers. A Business Insurance Agent can navigate this for you, saving you time and effort.

A Health Insurance Agent can help you find and implement the best health insurance plans for your employees and their families. Health insurance is a critical area that is complex in regards to all of the laws and regulations associated with it and the variety of options available. A Health Insurance Agent can make this process a lot easier by saving you the time and the hassle of doing it yourself.

Registered Agents

A registered agent is a designated individual or business that receives important legal documents on behalf of your business. These documents can include communications from the state regarding your business and service of process (SOP) communications if your company should be the target of a lawsuit. It is required in all 50 states for businesses recognized as legal entities to have a registered agent. Business owners can fulfill this task by being their own registered agents, but hiring a registered agent offers many benefits.

Registered agents must be available to receive official mail during all regular business hours. Therefore, hiring a registered agent allows you more freedom in how you operate your business, and it will not be necessary to always have someone physically present at your business locality during regular business hours. Hiring a registered agent also ensures that you are compliant with the law and will not miss or misplace any vital legal documents regarding your business, including service of process. These are some of the reasons small businesses should consider hiring a professional service to fulfill their registered agent needs.

Business Formation Specialists

Forming a business can be tricky; there is a lot to consider, whether the business structure is a corporation, LLC, or another business entity. This complexity is why it is helpful to hire a Business Formation Specialist. Choosing which business structure is the right one for your particular business is a necessary and important process. After this, you may also be required to file articles of incorporation or any other necessary state registrations. A Business Formation Specialist or service could help you navigate this territory, ease the process, and take the burden of sifting through the details and paperwork off your shoulders.

Lawyers

A lawyer could help you greatly in several areas in your business where legal knowledge is helpful or required. These areas could include drafting contracts, negotiating commercial leases, and dealing with intellectual property rights such as trademarks or copyrights. You may need to employ the skill sets of several different types of lawyers on an as-needed basis. However, it's better to have formed relationships with lawyers before specific legal issues may arise. They can help spot potential legal problems before they arise and can help safeguard against these problems.

Web Designers

A professionally designed website (or lack thereof) can hugely impact your business in today's world. Your website will serve as the face of your company to the world, and that is why it is crucial to put your best foot forward when it comes to your presence online. Many small business owners do not have web design experience but may consider building their own website to save money. While it may be tempting to use web design software catered to do-it-yourselfers, there are a few things to keep in mind.

While popular web design software such as WordPress, Wix, and Squarespace are convenient and offer an alternative to more knowledge-intensive forms of website building, they can also take a considerable amount of time to learn how to use, let alone actually build your website and have it come out the way you had envisioned it. Creating your own website with one of these platforms could serve as a classic example of a project that is severely underestimated in the time that it would take to complete it and the skill required. In addition to this, building your own website will require additional research on your behalf in regards to things like SEO that will significantly impact your business. There is also no guarantee that you will get components such as SEO right or that this aspect of your website would be just as optimal as if a professional web designer had done it.

The incorporation of a truly customized design and layout is also something to take into consideration. Many web design templates have somewhat limited customization and design options, which, if used, could run the risk of your website looking generic or like thousands of other websites. Hiring a professional can guarantee you will get a truly unique and professional look as well as the user interface and layout of the site you desire.

The main point to consider is that a professional web designer will probably complete your website in much less time than you would be able to. Additionally, they would most likely be guaranteed to produce far superior results, positively impacting your business. Also, any updates or additional changes that need to be implemented later could quickly be done by the web designer, saving you time and effort. These are some of the reasons it may be a good idea to consider hiring a web designer for your business.

Disclaimer: Incorp.com is not a law or accounting firm, and Incorp.com should not be relied upon to provide legal or tax advice. If legal or other accounting assistance is needed, we recommend that you seek the services of a competent professional. The content on Incorp.com should not serve as a substitute for legal advice from an attorney or accountant familiar with the facts and circumstances of your specific situation. Contact your tax adviser or legal counsel before making any decisions.