May 30, 2019
Most small businesses trying to manage without a bookkeeper will struggle, irrespective of how much they may enjoy that aspect of running a business, or even how proficient they believe themselves to be at it. The simple fact of the matter is that good bookkeeping requires time, patience and more time! Some busy business owners may be prepared to dedicate a good portion of their day to tackling bookkeeping matters, but most would be better off spending that valuable time on other important aspects of their business, such as dealing with employees and clients. There are multiple ways in which a bookkeeper can assist small business owners and enable them to spend more time running other aspects of their business, here are just a few of the ways in which they can help:
Tackling compliance and day-to-day administration:
A qualified and professional bookkeeper should support a business in compliance and day-to-day administration, alleviating such tedious and time-consuming tasks from the business owner and enabling them to focus on other valuable elements of the company.
Enabling business owners to focus on achieving their goals:
With the daily admin tasks taken care of by the bookkeeper, the company owner can shift their focus to increasing productivity, creative endeavour and research and development, all areas of a business that can lead to increased success and expansion in time.
Helping small businesses pass the test of time:
With recent statistics showing that almost half of small businesses with 4 employees or less, fail in their first four years, there is ample evidence to prove that having a bookkeeper can help increase a company’s longevity. With business owners juggling administration with building productivity, they are simply not able to devote enough time to ensuring that their business can not only stay afloat but thrive. Administrative burden is one of the most significant challenges facing small business owners today, and meeting regulatory requirements and accounting for everyday expenditure does not often come within the skillset of small business owners. Passing the test of time as a business, depends on many things, but having a bookkeeper can help you to greatly increase your chances of success and longevity. Not only do they relieve business owners of the administrative burden, but they can give insights and valuable guidance with respect to overall business plans.
A good bookkeeper should be organised, reliable, sensitive to the needs of you, your business and your clients and be able to deal with a wide range of people. If you want your small business to grow and pass the test of time, then you should invest in a good bookkeeper, and watch as they give you the confidence to expand and improve your businesses bottom line.