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Outsourcing for SME businesses

16th January 2018

Outsourcing for SME businesses

Is January and the start of the New Year a busy period for your business? Do you rely on key staff members to keep things running? What is your Plan B if those people are off sick or away on holiday? What happens to your business if you are ill?

As an SME business owner, you need to be on top of all these potential issues to avoid any damage to your business. Smaller companies often run on tight budgets and margins, so any additional or unexpected costs can make a huge difference to your success. Rather than managing everything in-house, it might be safer to consider outsourcing some critical functions, so that you are confident you can keep your business running smoothly.

  • IT support – there’s no need to waste time on your hands and knees unplugging computers and trying to fix printers. IT support for small businesses is really affordable, and a good provider can often fix most things by having remote access to your system. They can also make sure you are properly protected from cyber attacks, that your software is appropriately upgraded and that your data is regularly backed up. They can also offer useful advice on choosing and sourcing hardware and equipment.
  • Bookkeeping and accounting – as your business grows, you need to keep good quality financial records that comply with HMRC requirements. This is going to be particularly important as the Making Tax Digital framework is introduced. You are responsible for the accurate and honest financial reporting about your business, and about your individual tax, so it’s important to be sure you’re getting everything right. You may also be entitled to claim for a wide range of business-related expenses, which can help to reduce your tax bill. If you are over the VAT threshold you will also need to make a separate quarterly VAT return. Outsourcing all this to an accountant could save you time and money and remove all the hassle often associated with managing your business finances.
  • Administrative support – sometimes, keeping your business running smoothly is as simple as making sure your phone is answered and emails are read and responded to. When you are out on the road, or busy with client work, admin can be left behind, and you may miss potential new business simply by not being there. Using competent administrative support allows your business to give a professional response to enquiries, manage internal admin efficiently and leave you to get on with earning income.

At Wise & Co we have a dedicated IT support business as well as offering SME accounting services. To find out more about either of these outsourcing options for your business, contact our office today.

CLIENTS WORDS

Very sincere thanks for all of the advice and support we have received from Sharmini and her team over the many years they have looked after our tax affairs, and the helpful way in which they have guided us through the intricacies of taxation.
Personal tax client

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