Small medium sized business owners and directors always seek quick and cost effective solutions to their problems; however, from time to time some problems are encountered in achieving this goal.Some issues may be easy to fix and may be a ‘pleasant’ experience, such as addressing business growth, where to invest excess cash and so on. Others cause much concern, perhaps because of their complexity, urgency or their potential long term adverse impact on the business. Understandably it is not uncommon to find that small business owners are technically capable in their area of expertise, but when challenged to find solutions to business related problems outside of that area they must turn to experts or professionals in other fields.
Particularly in a startup company the accountant, solicitor or bank manager may be a source of help. However, it may be found that not all answers are available from that source. So to whom does the business owner turn? It may be trade associations, chambers of commerce, network groups, other entrepreneurs, and friends and so on. All may offer some advice but this may be an uncoordinated approach and costly in terms of time. This source of knowledge may be of significant value and should not be totally overlooked. However, start-up companies and small and medium sized business owners usually seek business solutions immediately. After all they do wish to succeed in their business venture and issues that jeopardize that success require resolution at the earliest opportunity.Consequently any delay in securing help from independent bodies or friends may be perceived as aggravating the problem to be overcome.
Unfortunately not all problems can be resolved quickly.
Some, perhaps many, business problems may be caused through a lack of planning or maybe lack of knowledge and understanding on the part of the small medium business owner. This may require investigation into the root causes of the problem in question, before action can be taken rather than develop a solution only to counter the ‘effect’ of the problem.Also in the business world, the level of government ‘red tape’ may be burdensome to the business owner or director, and adherence to all aspects of their legal obligations is usually mandatory. However, governmental influence may delay resolution of problems, and ignorance of the law is not be an excuse should serious consequences arise through non-compliance.In addition should cash constraints exist within the business, it may not be possible to ‘buy in’ the required level of expertise. This may burden the small medium sized business owner with gaining knowledge or learning skills alien to himself.