Outsourcing business tasks is becoming more and more common thanks to the fact that more and more business owners are reluctant to commit to employing people.
In the past, if a business owner needed a marketing expert or a bookkeeper for example, the tendency was to hire someone and create a ‘mini department’ within their business for that function. In part because of the growing number of costs and responsibilities associated with employing people, outsourcing is fast becoming the preferred option for many.
Put simply, outsourcing is just a case of getting an expert from outside of your business to deal with your specialist tasks and paying them a fee to do so. It may be that you outsourced your bookkeeping, your payroll, your copywriting or your marketing. Irrespective of the task, if managed in the right way, outsourcing can add real power to your business elbow.Online Generator Little alchemist Gems
Take for example your bookkeeping. If you’re a small business owner, the likelihood is that when you started out, you tried to do absolutely everything yourself in order to keep costs to a minimum. That said it’s probably also the case that you reached a point whereby you realised that this was false economy. Outsourcing your bookkeeping is a great way to make sure your affairs are kept in order, at the same time as freeing yourself from the responsibilities of the task. By outsourcing your bookkeeping, you’ll:
- Save money. Outsourcing your bookkeeping means you only pay for what your business needs. Unlike employing someone to do the job in-house, you won’t need to pay for periods of sickness or holiday pay. This means that outsourcing represents real value for money.
- Have an efficient expert on hand. A high quality outsourced bookkeeping service will be run by experts who are up to date with regulatory requirements as well as being fast and efficient in their role. These people live and breathe bookkeeping and know exactly what’s required to do the job correctly. You can benefit from this expertise on a pay-as-you-go basis, only ever paying for what you need.
- Be more effective in your own role. If you’re burning the midnight oil doing bookkeeping or having to put off other tasks to get the job done, then the chances are that you’re missing out on other, more valuable business opportunities. Irrespective of whether it’s you, or another member of your team who’s taking responsibility for your bookkeeping, there’s no getting away from the fact that the opportunity cost is probably higher than you realise.
- Have peace of mind. When you outsource your bookkeeping to a reputable and trusted firm you have all the back up of their expertise as well as the peace of mind of knowing that they have the required insurances and guarantees that your job will be done correctly and on time. This level of guarantee is rare when you retain the task in-house.
- Be free. It’s uncommon to meet a small business owner who says they love bookkeeping and the notion of being free of the task is highly appealing to most. By outsourcing your bookkeeping you get the best of both worlds. You get to do your job and you know that your bookkeeping is being done by an expert. That truly is win:win.
If you’d like to chat about the pros and cons of outsourcing your bookkeeping, why not get in touch? We’re here and available to give you an impartial view of how your business might benefit from this opportunity.