Professional advice

Professional advice from your business adviser, mentor, lawyer, accountant, financial adviser, banker or insurer can help you to set up your business to minimise your risk of legal or financial problems.

It is essential that you have the correct information when starting and running your business. A good adviser has expert knowledge of a subject, and can explain any rules and regulations that apply to your business.

Ask about fees

When choosing a business adviser we recommend that you ask for information about their fees upfront, as fees will vary. A higher fee may indicate the adviser has plenty of experience. A lower fee may not be a bargain if the adviser has less experience. An adviser can save you from making costly mistakes, so find the one that is best for you.

Do your research

Meet with potential advisers to discuss their fees as well as their qualifications, experience and how they can help your business. Request the contact details of current or previous clients so you can ask them for feedback.

Seek advice from multiple advisers

You may find that you need to ask more than one adviser for assistance on the same area. For example:

• Your accountant can help you to analyse your cash flow so you know how much of your budget can be spent leasing premises.
• Your solicitor can help you to investigate and understand a business premises lease to avoid unexpected rent rises.
• Your insurer can help you to take out the right level of insurance cover to protect your business.

Also consider...

• Ask your network of business contacts to recommend advisers.
• Learn how the Institute of Public Accountants, Queensland Law Society and National Insurance Brokers Association can help you find an adviser near you.
• Read more about starting a small business on the Australian Securities and Investments Commission's website.
• Contact your business or industry association for support and advice.