WorldExecutivesDigest | 3 Outsourced Services Your SME Needs | Like it or not, you can’t do everything to keep your small to medium business afloat. Some important business tasks require a specialist. Here are three things you should not outsource if your run your own business.
Outsourcing has a bad reputation. This is because people imagine outsourcing business functions to huge corporations abroad, who churn out impersonal rhetoric on your business’s behalf. This isn’t the case most of the time. In fact, when you don’t have a giant operation yourself, outsourcing is more necessary than cost-cutting. Your average SME owner can’t afford to hire a full-time IT technician. Their only option is to outsource to another company. The old ways of believing that this cost jobs have become outdated. Rather, it creates work. The demand is still there, it just shifts in the availability of the role.
Here are some SME business processes that you should consider with all this in mind.
3 Services your SME Should Outsource
There are several facets of your business best entrusted to an outside source. Especially so if that source is a specialist. Here are the top three roles that you may need to invest in as a small to medium-sized business owner.
1 – Financial Advisors
All businesses go through peaks and troughs in terms of growth. When your SME starts to turn serious profits, you are going to want help to manage that money correctly. Hiring a financial business consultant allows you to foresee all your options, including things like taxation. Even if your business has cash flow problems, a financial consultant can piece together an escape route. They can advise on better ways to reinvest profits to drive more leads for your company. A good financial consultant is worth their weight in all the gold they make you.
2 – Accountant Services
It is hard enough to do your day job and keep track of your incomings and outgoings, without having to put all that information into the forms that the government give you every year. Hiring an accountant can save you weeks of work. The trick here is to put a price on your time. Charge yourself by the hour to complete tax return forms. If your hourly rate exceeds that which you would pay an accountant, then that accountant is a worthwhile investment of capital.
Accountants ensure you are never late to file. They help you avoid surplus taxation and keep track of your expenses. If your business is in the arts and maths is not your strong point, an accountant can quite literally keep you out of jail.
3 – Advertising Agencies
Nowadays the advertising agencies of old have given way to digital marketing agencies. If you own or operate an SME, then you probably have these people in your inbox already. Many of them promise to get you to the top page of Google and some of them even have the capacity to do it. Read plenty of reviews before you decide on the right agency for you. Overall, they present good ROI and bring in regular leads.
