Duggal Professional Corporation

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 Accounting,       Tax,        Business Advisors

Ph. 780 863  2224,    info@taxcounting.com

CPA

The Importance of Business Consultancy in Your Company’s Growth

Canada offers a thriving market to businesses from various industries. Research has shown that nearly 75% of companies that experience significant growth do so in the first five years of being conducting operations. This means that the initial few years are the most crucial ones and serve as the ideal time for firms to collaborate with business consultancies.

So, what does a business consultancy do, and how can it help your company’s growth? Let’s take a closer look.

 

Understanding the Role of Business Consultancies

 

A business consultancy assists business owners and management teams in implementing changes that will help their firm grow steadily. It employs tried and tested skills and strategies to help the business perform better. Business consultancies act as the driving forces that enable companies to maximize profitability, refine their methods, and overcome barriers. They help instill a more sound understanding of business frameworks and industry trends, which ultimately helps companies make greater progress.  

A business consultancy typically does three main things:

 

Identify Problems

 

The first thing a business consultant does is assess and identify existing as well as potential issues. These may be old problems business owners haven’t successfully addressed or newer ones that may negatively affect their company. Expert business consultants will pick up on various issues, such as the ones related to corporate restructuring, business reporting, cash flow projects, and budgeting.

 

Importance of Business Consultancy


Strategise Solutions


The second phase of business consultation involves addressing the issues that they earlier identified. Business consultants will use their expert knowledge and skills to devise practical solutions for these issues.  They’ll use tried and tested tactics or innovate new solutions to best address the issues at hand.


Follow Up


Thirdly, business consultants follow up with their clients and get updates about their progress.  Professional business consultants exhibit genuine interest in their clients' financial growth and offer feedback to help them stay on the right path.

At Duggal Professional Corporation, we offer business consulting services that are tailored to each client. Our team works closely with business owners and managers to work out the best solutions and escalate their company’s growth in the early years. When you work with us, you get a personalized experience.

We also offer bookkeeping and payroll services. Get in touch with us today for more details about our accounting consultancy in Edmonton.

Importance of Business Consultancy