an article review

According to Blair and Marcum (2015), accountants and lawyers consider several considerations when deciding what advice to send to company owners who are just starting out. Several valuable considerations assist experts in providing realistic guidance to small business owners who follow their advice.



First and foremost, practitioners must comprehend the various variables that influence corporate organizations and individuals seeking business advice.



Startup costs, future liability, the number of shareholders, and the type of company in question are all considerations to consider. According to Knaflic (2015), it is very critical for business owners to always seek advice from professionals whenever appropriate. This is so because the professionals are in a position to identify the signals for noise, especially all factors that are highly likely contribute to the failure of the organization. Also, the professionals are well informed to provide a measure that professionals can take to curb noise.From the article, Blair & Marcum (2015) says that it is more crucial to consider all other factors concerning a business rather than focusing on the owners.



This is an important aspect when advising small business owners.



However, it is not wise to entirely scrap off the business owners as they are the driving force for the entities or the startups.At the same time, business owners should be aware of the kind of professionals that they seek advice from as each is more likely to lean on their line profession.



According to Blair, E. S., & Marcum, T. M. (2015), accountants are more likely to focus on taxation while attorneys will focus on the ability of the business owners to handle sophisticated paperwork.



According to Pakroo (2016), it will be prudent for business owners to be well equipped with information concerning their entities as well the business environment so that the advice professionals acts as a supplementary to what they already know. The professionals are not there to make the decisions for the owners; rather, they are there to help in making the most preferred and workable decisions.According to the article, the professionals help owners to understand how the structure of their business as the structure determines the rights and responsibilities of the owners as well as the possible liabilities they are likely to encounter.



According to Ferrell & Fraedrich (2015), all businesses are expected to act within the legal provisions and also, they need to make ethical decisions that will help in sustaining the stability of the firm.



Thus, the professional does play a major role in influencing the knowledge of the business owners and guiding them on what is expected of them in the business industry.In conclusion, startups businesses have very crucial elements that determine its success in the business environment.



Due to these inevitable complexities especially in matters to do with legal liabilities and taxation among others, the business owners would always seek advice professionals.



In as much as professionals help in giving the best advice to their clients, they risk being biased for learning more about the matters of their specialty. For instance, the accountants will focus on taxation. As such, it is prudent for the professionals to realize instances of biases to ensure that they give comprehensive advice to business owners.



References



Blair, E. S., & Marcum, T. M. (2015). Heed Our Advice: Exploring How Professionals Guide Small Business Owners in Start‐Up Entity Choice. Journal of Small Business Management, 53(1), 249-265.

Ferrell, O. C., & Fraedrich, J. (2015). Business ethics: Ethical decision making & cases. Nelson Education.

Knaflic, C. N. (2015). Storytelling with data: A data visualization guide for business professionals. John Wiley & Sons.

Pakroo, P. (2016). The small business start-up kit: A step-by-step legal guide. Nolo.

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