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The recession is a different environment from boom-times (er.. yeah?) so have you spoken to your accountant about what options you have to strengthen your finances?
A straw-poll of freelancers and contractors told me yesterday that only 17% of freelancers are talking to the accountant.
Why aren’t freelancers talking to their accountant. Perhaps the equally improtant question is: why are accountants not speaking to their clients?
Now is the time to review your finances with your accountant and make any interventions to avoid crises later on.
You might be thinking that your finances are OK and cashflow is positive. Cool. But will it stay that way, and if it doesn’t, will you know what to do?
Speak to your accountant and discuss what decisions and actions you will take in the event of losing a contract or a client.
If your accountant isn’t keen, then question their value and dedication to your success! As a small-business owner, you need as much quality advice as you need to maintain cashflow and growth. This is a specialized subject – so you need specialist advice.