13 Jul 4 reasons why new businesses should outsource their accounting and payroll
You’ve just started a new business, and you’ve already conquered some of the more difficult problems that come with getting established. Yet now that you’re ready to begin trading, you need to consider a long term approach to your accounting and staff payroll. Maybe you’ve so far managed to do it all yourself, but when your customer numbers climb and you have to hire more employees, where will you find the time to bookkeep? Here’s four reasons why new businesses should outsource their accounting and payroll.
1. You need to spend time actually running your business
The most fragile time for a new business is the first few years of trading, so you need to monitor every aspect of yours to ensure it runs according to plan. Are your staff fulfilling all of their duties? Is customer feedback positive? Outsourcing your accounting and payroll can relieve some stress by leaving you free to actually run your business.
2. You don’t want more staff than you need
You want as few expenses as possible when starting your business, so you should only employ who you absolutely need to. Even if hiring staff for other areas is a necessity, you don’t want to pay the salaries of an in-house accounting and payroll team when you could outsource for a fraction of the price.
3. You want to make sure your staff are paid correctly, and on time
You’re new to running a business so mistakes are inevitable, yet if your staff are not paid on time, or find mistakes with their wages, they may start to question their loyalty to your new company. Keeping your staff happy is a large part of ensuring your business runs smoothly, so ask an expert accountancy firm to take care of the payroll for you.
4. Save some effort and have a break
After months, maybe years of getting to this point, it’s great that your new business is starting to take off. However, make sure you don’t overwork yourself by trying to do absolutely everything; give yourself a break by allowing the experts at SQK Accountancy to handle the accounting and payroll side of your business, so you can get some of your spare time back.