15 Jun Is outsourcing to an accountant worth it for a sole trader?
If you’re a sole trader it can be easy to think you’re better off handling your finances yourself. But the reality is that investing in the services of a professional well versed in sole trader accounting can be one of the most valuable and beneficial decisions that you can make.
The benefits of outsourced accountancy
The benefits of outsourcing your financial requirements are manifold – firstly you will free up your valuable time. As a sole trader, every minute of your day is valuable, and your attention is even more valuable. With a finance professional handling the nuts and bolts of your finances, you are free to make more important decisions regarding the direction of your business, as well as able to spend more time actually running it.
Then you need to think about the propensity for mistakes – financial mistakes can be costly, whether it comes in the form of mishandling customer finances or problems with your tax returns. It’s easy to make these mistakes when you’re running yourself to the wire operating your business and then having to spend your time handling your finances yourself. A financial professional working on your behalf will avoid this risk.
Keeping things affordable
You might think the services of a financial professional are beyond your reach as a small business – but the truth is quite the opposite. There are many freelance accounting specialists and dedicated small business accountants available who have an intimate understanding of the types of services you need. Their packages can often be tailored to your needs, meaning you only pay for the things you will actually benefit from.
When you offset the cost of outsourced accountancy against the benefits it offers in terms of your business growth and freeing up your valuable time, it becomes clear just how much value it provides.
Get your accountancy quote today
If you’re a sole trader you definitely stand to gain a lot from the services of a dedicated accountant with an understanding of what your business needs. Contact us, here at SQK Accountancy today for more information, or to get your quote. We are experts in small business accounting.