Well, the announcement has been made and most of the restrictions are due to end on 19th July, as a business owner are you ready?
It is of course likely to depend on many factors, such as; have you been open and trading at full capacity? Have you been able to open but with restricted availability? Have you been busier than ever? Are you struggling to fill vacancies? You may even have members of staff or even customers that are still very nervous about going back to normal.
If you work in the trades industry, especially anything related to housing, you have likely been very busy for quite some time now. You may actually find yourself short on time, I know the bathroom fitters I have booked are stacked out and working all sorts of hours to keep up with demand. It’s a very lucky place to be in.
Your struggles might actually be more to do with getting all of the materials you need? Supply has been much tougher than demand in a lot of cases.
If, on the other hand, you own and run a business in the hospitality sector, you have likely had to change the way you operate to stay afloat or maybe even had to close for some time. Hopefully that is all about to get easier, just the opening up to deal with now right?
Whatever your troubles have been over the last 18 months, now is the time to really focus on getting your business to move forwards. Did you know that around 80 per cent of UK companies fail within their first year? According to figures from the Office for National Statistics, only 42.4 per cent of businesses started in 2013 were still trading five years later. A primary reason why small businesses fail is a lack of funding or working capital, make sure you are on top of your finances so your business can stay on top. Running a small business isn’t easy at the best of times, but if you’ve got this far, you can do the rest, it’s onwards and upwards from here.
Whether you are stacked out with work load, struggling to hire staff in the hospitality sector or taking down those social distancing signs in your shop. Now more than ever is the time to be focussing on your business and your customers.
Outsourcing your bookkeeping is a very cost-effective way of helping yourself and your business. Having a good bookkeeper means you can save the time by leaving the bookkeeping to them and working on your business instead.
A good bookkeeper will be able to provide you with monthly reports so you can see exactly how your business is doing financially. This means you can make informed decisions about your business when you really need to, not when your accountant is finished with your books.
It’s going to be a busy time for any business owner, so why not put yourself ahead? Outsourcing to a bookkeeper means:
- Your books are done regularly (so you can see what is going on in your business)
- You don’t have to spend your valuable time doing the books (so you can do things more beneficial to your financial income)
- A bookkeeper is cheaper than an accountant (who doesn’t like to be cost effective?)
- Outsourcing means no additional staff (you only pay for the work done)
- You don’t have to do a job you loath (seriously… do you enjoy doing your books?)
If you think it’s time to outsource your bookkeeping, get in touch with Rosemary Bookkeeping, it’s what we do best.