Is UK Business getting the right advice?

According to the recent article on 14 August 2015 by Ben Lobel on the Small Business website one in six small businesses have received poor advice from third party advisers, such as accountants ….

Now that’s disappointing isn’t it … but Ben does not actually list accountants when states that IT consultants are identified as the professionals most likely to give damaging advice.

The article is prompted by Direct Line for Business warning that there could be a case for said professionals being pursued for losses incurred as a result of giving substandard advice.

There is obviously a backdrop of poor advice that has prompted Direct Line for Business to issue such a statement, but when businesses are seeking advice and support from professionals I have to ask how do they choose who to use?

When choosing an accountant for instance, do they ask friends and colleagues?

What about the accountants Professional Qualifications and Experience?

What about testimonials from actual clients of the accountants?

I would always suggest before engaging any professional whether it be IT, Business and Management Consultants or Accountants check out their professional qualifications, check with existing clients about what to expect, ensure they are fully insured for the advice being given and above all … make sure you can actually talk to them and get on with them, the importance of this is often something underestimated by many!