Small Business ServicesMSPC does not categorize all entrepreneurs as one homogeneous group, and we understand that their accounting, systems and tax requirements differ greatly. We recognize that each enterprise is unique and faces its own unique challenges. These entities vary greatly in size, format, product mix, computer sophistication and customer-type. We customize our services to address and meet these needs. MSPC understands that emerging and smaller businesses are unique. Our professionals are familiar with the special characteristics of these enterprises. These can include the following: Owner-Manager Involvement - The vast majority of smaller and emerging businesses are closely-held. Typically, the shareholder-owner(s) and family members fill key managerial posts. Limited Financial Expertise - Many owner-managers are marketing, manufacturing, sales or research oriented, but are not fully conversant with financial, accounting and administrative issues. Entrepreneurial Management - The determination and motivation of the entrepreneurial founder drives the organization. The goals of the owner and the firm are basically the same. And, because the owner "eats, sleeps and breathes" the firm, it goes in the direction he has chosen, mostly "all by himself." Limited Middle Management Expertise - Professional managers usually are hired later in the company's life cycle. Thus, we find the entrepreneur 'wearing many hats' and thus too busy to focus on financial matters. Undercapitalization - Financing usually comes from banks, vendors, commercial finance companies or the owner's own (usually limited) resources. Thus these companies are often undercapitalized and highly leveraged. Lack of Supervision and Segregation of Duties - With limited resources and thin middle management, segregation of duties and supervision are often lacking. This responsibility is the direct concern of the owner-manager, who must stay involved. Informal Accounting System - Emerging businesses usually have limited resources and informal accounting systems. Inadequate controls usually have bad results. A growing firm can choke on an inadequate accounting system. Related Party Transactions - Business transactions between the owner-manager and the company, or with entities under common ownership or owned by close relatives, are customary in entrepreneurial situations. Such transactions can have complex income tax and estate tax implications. Our tax expertise is especially valuable in these situations. We can help entrepreneurs manage the difficulties associated with developing a new business and growing an existing venture. OUR POLICIES AND GOALS In retailing and manufacturing, it is our belief that a primary responsibility of your accountant should be to assist management in inventory control. This is especially true in today's ever-changing environment. New entrants into the marketplace have many concerns (i.e., competition rolls out a string of new products, prices are discounted, locations open and close, etc). There is great dependence on a large number of clerical-level employees to serve customers. You need reliable, accurate and timely information to protect your profit margin. Service organizations have a different set of needs. Our years of experience have prepared us to handle these challenges. In this regard, while we pride ourselves as a multidisciplinary firm, our internal disciplines such as accounting, audit, tax and consulting are strong and reliable. Our principals and staff work well together and have only one goal in mind - to provide quality and timely service to our clients. We succeed only when you do. |
| Contact James J. Flannery, Principal-in-Charge, for more information on our Small Business Services. |
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