Why Fallon & Byrne should have used a professional.
Fallon & Byrne, the Irish award-winning food business, have gone into liquidation. According to news reports the owners “left the financial administration to an under-qualified bookkeeper” InsolvencyJournal.ie. Their tax debt has been reported as being €1.4m.
Who do you get your business advice from? What comeback do you have if that person gets it wrong?
When you engage a professional business advisor, check that they are a member of a recognised professional institute; you can do this either online or through a phone call to the institute. Membership of professional institutes is only open to properly qualified practitioners; members in most cases must demonstrate annually that they have undergone additional education to keep their knowledge up to date; they pay annual membership fees in order to be recognised as a professionals and most importantly they will be required to carry Professional Indemnity Insurance in the unlikely event that they ‘get it wrong’.
This your assurance that you are getting what you pay for. Of course there are cheaper options but can you afford the risk of trusting your business to a non-professional?
Bright Star Marketing is a member of the Institute of Management Consultants in Ireland, a Member of the Marketing Institute of Ireland and carries Professional Indemnity Insurance.
Call us today to kick start your business in 2012 - we provide a free initial consultation for new business start ups* – call 086 3893547 for details.
12 January 2012
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