A small business is equally vulnerable to the tides of economic change. While change isn’t bad in itself, it can throw you off balance. Whether you survive or thrive depends on how prepared you are.
With COVID-19 impacting almost every aspect of business, it’s more important than ever to get your finances in order. This is especially vital when your startup transitions from an idea to a viable company. Many startup owners feel they don’t want or need to hire an accountant. However, outsourcing your financial concerns to a bookkeeper frees you up to focus on your business. Here are five key benefits of hiring a bookkeeper.
With the end of the financial year around the corner, you’re probably busy planning for the next one given the prevailing economic malaise. However, there will be significant differences in the way you approach it for 2020/21. As a small business, you may have realised the cushion between survival and collapse is very thin. In this post, we’d like to present some tips to help you plan a budget in a crisis.
If you haven’t transferred your bookkeeping to a digital format and enlisted remote help to ensure it’s getting done correctly, now is the perfect time to do so. With many companies effectively closed down due to the pandemic, and others operating on a limited service, it’s an ideal time to be streamlining your operation and cutting waste. Here we discover four reasons why online bookkeeping is likely to increase your profitability: