23 Apr When should a startup business invest in outsourced accountancy?
As a startup, you’re likely watching the pennies very closely. Startups generally want to keep as many essential business processes “in-house” as possible, because it cuts costs. While it can technically be cheaper, does that actually mean it’s what’s best for your business? The answer is no.
Here’s what outsourcing to an experienced and professional accountancy firm can offer you.
Peace of mind
Do you really know how to fill in your business VAT returns? Are you up to speed with the latest in financial compliance regulations? Can you balance your books? All of these require experience, time, and dedication – and in many cases, there are punishments for getting it wrong. Avoiding fines, investigations, and other business hurdles is a key reason to invest in outsourced accountancy as soon as possible.
When your business is starting up, you need every single ounce of energy and minute that you can spare. Accountancy takes time – especially if you want to avoid making mistakes. Choosing to outsource your accountancy requirements while your business is still a startup means you’ll have much more time freed up for other things. Ultimately this is going to allow your business to grow and develop that much faster.
When it comes to your business finances, it’s always preferable to start as you mean to go on. Working with a professional accountant as soon as possible means you’ll be able to use their expertise to lay the foundation for your financial systems to grow with your business. It’s so much better to implement a system that takes into account your projected growth than to try and re-work an inefficient system when your business is more established.
So when should startups invest in outsourced accountancy? Immediately!
It’s never too early to enlist the services of a dedicated financial professional who understands the specific requirements of a small business. Don’t think of it as a cost – it’s an investment, both in your future growth and your continued success.
For the services of an accountancy professional that you can trust, contact SQK Accountancy today.