11 Dec Think you can’t afford outsourced accountancy? Think again
As a small business owner, you know the importance of making every expenditure work for you.
Many business owners feel that accounting is something they simply can’t justify outsourcing – but the reality is that small business accounting is always affordable, no matter your circumstances.
1. Scaling cost structures
The first thing to consider, whether it’s sole trader accounting or all other forms of small business accountancy, is that the costs actually scale with your requirements. As a small business, your accounting requirements are relatively small and straight forward, which means your accountancy team will be able to help you relatively affordably.
As your business grows and your financial requirements become more complicated, such as potentially dealing with payroll as you take on employees or becoming VAT-registered as you reach the threshold, then, of course, your accountancy costs will grow. But the important thing to remember is that they will always be proportionate, relative to your turnover.
A team of dedicated small business accountants will look at your financial requirements and your budget, using both to formulate a plan of action that suits your needs while remaining comfortably affordable.
2. Return on investment
Something else that’s very important to consider is the fact that you’re not actually spending that money, in the sense that you’re getting nothing back from it. Outsourced accountancy is actually a very valuable investment that can provide you with a range of ongoing returns on that investment. Those returns will only grow the more you invest.
The returns themselves are varied and range from being able to make potential savings in the way you spend your capital, improvements in your bookkeeping systems to allow you to isolate costly issues, and avoiding costly mistakes in your payroll and tax returns. You’ll also free up more of the most valuable resource you have – your time.
Make your investment today
Whether you’re contemplating starting a business or you have already started trading, outsourced accountancy is an investment that will continue to pay dividends. Contact SQK Accountancy today to learn just how affordable it can really be. We’re accountants who are based in Manchester and specialise in businesses just like yours!