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Outsourcing Your Bookkeeping

October 26, 2010

You’re in business because you are an expert at a particular product or service. As you may be aware one third of new small businesses fail in the first two years and 56% fail within four years. Poor financial management is the main reason most, small businesses become failures. Often business owners want to maintain complete control of their business or that they are afraid outsourcing bookkeeping functions would be too expensive, or both.

What business owners don’t realize is that outsourcing the bookkeeping can save you both time and money. This will also allow you to put more focus on the business itself, which would give your small business a better chance at survival. And when you outsource to the right bookkeeper it can turn survival into profit.

Save your company time by outsourcing your bookkeeping to a trusted professional, this will free up time to do all the critical tasks you need to focus on to allow your company to grow and become profitable.

Save your company money, most small business owners will spend 10 to 15 hours a month getting the financials together and your hourly rate as owner is much more than what you would spend for the right bookkeeper. Employing an in-house bookkeeper can be expensive. That cost is not only a salary, but the other direct costs such as employer payroll taxes, workers compensation, medical insurance, retirement plans, and other benefits. Additionally, there can be vacation and sick days to consider as well. There are also the savings in both the time and money involved to place classified ads, interview and train an employee.

Can you really afford not to outsource?

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From → Bookkeeping, Business

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