Outsourcing is vital for a small business looking to grow. It’s a tool that needs to be used properly in order to work successfully. It can be expensive but when it’s applied to the right areas, the cost is well worth it. If you’re looking to take your business to the next step, consider outsourcing within these sectors.
Most small business owners will handle the finances themselves at the beginning. However, as the company begins to grow – so will the accounting workload. It could become too complex for you to handle. Outsourcing accounts is a simple process and makes running your business much smoother. Also, you may need guidance on what investments to make, which is when it would be worth seeking out experts in corporate finance.
Similar to accounting, as your business begins to grow its IT requirements will become more complex. There are a number of benefits to outsourcing IT. These include up-to-date cloud services and security. Plus, an IT expert can create a secure database and backups for your business. IT outsourcing can give you peace of mind, and allow your business to function much better online.
Companies commonly outsource marketing. 42% of businesses in the UK don’t handle their in-house marketing, according to a recent survey. The results revealed that businesses preferred to get expert help with marketing. Digital marketing was the most common outsourcing work, with 63% of those surveyed saying they used an agency or freelancer to do it. Marketing is key for business growth and it requires skills and time that your current team might not have.
If you have a small team you might think you don’t need HR. HR takes care of recruitment, sickness, employee retention and issues. As the owner, this could be too much for you to take on alongside all other responsibilities. HR isn’t just a nice thing to have, but a necessity for future growth. There are five questions you need to ask yourself when contemplating outsourcing HR.
Outsourcing isn’t just about getting help from certain industries you lack the skills from. It also is designed to give you more time to run and develop your business. Outsourcing admin can help. It can give you more time and increases productivity.
While it may appear expensive, if done effectively outsourcing can help take your business to the next level. Do you have any other areas you think small businesses should outsource?