Four better things for business owners to focus on than bookkeeping

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Small business owners are often tasked with dealing with all aspects of running and building a company, with not enough hours during the day.

As the owner of a small company, you will probably find yourself tackling all areas of the business, from dealing with HMRC to finding new clients. However some tasks, like bookkeeping, really do need to be handed over to professionals so that you, as the company owner and the spark behind the enterprise, can concentrate on other aspects of the business:

Caring for customers

Your customers are the only reason you are trading, which is why customer service should be at the top of your priority list. You have to make sure that the products or services are of the required standard and any complaints are dealt with satisfactorily. If you are able to hire a customer service representative, you have to provide training so that standards are adhered to. Failure to maintain acceptable levels of customer service will result in lost custom and a damaged reputation.

Technology

Dealing with the IT in a company is a job that has to be dealt with as a priority, as a failure of systems can result in the loss of business or even valuable data. You are responsible for updating software, keeping track of orders, invoices and deliveries, and repairing any faults.

Marketing

The type of business you have will dictate the type of marketing strategy you employ. You may rely on printed materials like brochures and catalogues, or you may spend time at networking events, seminars and other gatherings of people in your sector. This takes time, but is another priority if you want to discover new clients and learn more about your chosen field.

Record keeping and taxes

All businesses require up-to-date and accurate records upon which to base their accounts. Failure to keep accurate records may lead to the company paying too much tax, or even being issued with a penalty by HMRC. As with all other duties, this is a priority task and has to be dealt with on a regular basis.

Although outsourcing duties may appear to be an extra expense, it can actually save the company money in the long term. Outsourcing finance and accounts would leave you free to deal with other aspects of the company. Contact us for more information about outsourcing.