Small businesses urged to choose advice carefully

Small businesses and potential business buyers have been advised to consider their sources of advice carefully.

A recent article from Jonathan Richards, writing for smallbusiness.co.uk, highlighted the benefits that can come from working with professionals who bring a range of specialist skills to the table.

However, it pays to choose carefully. It's usually quite easy to tell who isn't interested in a mutually beneficially business relationship, but it's still worth noting that hard salesmen are usually worth avoiding.

According to Mr Richards, some of the best advice actually comes from mentors and coaches rather than professionals. This is because they are “in it for more than the money” and have “a built-in desire to help and support”.

Networking events for entrepreneurs can also provide business buyers and sellers with access to a group of people with similar expertise.

But whether you pay for advice or happen upon it organically through connections, take some time to get to know the person or group that are offering the help and don't rush into a deal that you aren't sure about.