Why Did You Start Your Business?

People start their own companies for a number of reasons: To be passionate about their work, to earn more money, to be in control of their schedules. However, the reality of running a new business is often different than we imagine. As a new business owner, chances are that you are investing in your business, performing job duties that aren’t part of your core industry, and have less time than when you started.

Are You Spending Your Time Wisely?

Now that you’ve started on your journey as a business owner, it’s time to start achieving some of the goals you had initially. How can you free up your time, be passionate about your work, and make more money? By delegating certain company responsibilities to the right people, you will have more time to focus on the parts of your business that you enjoy. By shifting your focus, the time you spend working will be spent more effectively. This will create more revenue and that extra revenue means you can be more in control of your schedule.

So Why Should You Hire A Bookkeeper?

According to a 2017 survey by The National Small Business Assocation (http://www.nsba.biz/wp-content/uploads/2017/04/Tax-Survey-2017.pdf),

1/3 of small businesses reporting spending more than 80 hours each year JUST on federal taxes.
 

Other data shows that 40% of Small Business Owners say that Bookkeeping & Taxes are the WORST Part of Owning a Small Business.
(https://www.score.org/resource/infographic-look-accounting-and-taxes).

These numbers shouldn’t be shocking to most business owners. The reason is simple? You aren’t an accountant or bookkeeper.

When you don’t have many customers to manage, bookkeeping is fairly simple, but as your company grows, your bookkeeping gets more complex and will begin to take up more of your precious time. Hiring a bookkeeper will allow you to pay a fraction of the cost of hiring an employee and will make sure that your time is free to focus on the growth of your company.

What Should You Look For In A Bookkeeper?

There are a lot of accounting & bookkeeping companies for you to choose from. Choosing the right one is important. It’s easy to find a bookkeeper who can manage & maintain your books, but you should look for a company that will also help you create a system that will make it easy for you to manage your financial documents and understand your income & expenses.
At the same time you should look for a company that can understand your current financial situation and make recommendations, based on your financial data, for the growth of your company. In other words, make sure they are invested in the success of your company.
Why Hire a Bookkeeper as a small business?

Get in Touch With KHL Bookkeeping

At KHL Bookkeeping, we understand that as experts in our industry that we can help empower small businesses to make better financial decisions. We are based in Raleigh, NC, but can provide answers to questions about bookkeeping to any small business in The United States.  To talk to one of our bookkeeping experts, Call 919-283-6098 or contact us online today.

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