When asked why small businesses made the decision to deal with their finances themselves, the most common answer I get back is simply, “It’s less expensive.” As the owner of a small business myself, I can certainly understand the desire to want to save money to fuel back into your business, which is why I’ve decided to share a very simple secret with all of you: this is actually costing you money.
Not many small businesses have a background in finance – why would you, if it doesn’t pertain to your trade? However, without this knowledge, most government services and deadlines (i.e., payroll, HST, taxes) may seem confusing and hard to understand without researching a bit first. This is where you begin to lose money; every minute you spend on finances is time taken away from the business and brand you’re trying to build. Your time is one of the most valuable things in the workspace, and the less time you put into your business due to struggling to understand the financial side to it is money taken away from it. An hour spent doing calculated source deductions is an hour taken away from running your small business – and how much is your time worth to you?
Hiring a bookkeeper who comes prepared with the knowledge of these confusing government services allows you to put 100% back into your own business, while we put 100% into your finances. Why does your small business need a bookkeeper? So you can give your business the best of you, and get back to what you’re passionate about.
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