New Year is a good time to reflect on your role in your business, and especially on what areas of your business take up your time. One common issue with both business managers and entrepreneurs is that they have a huge workload and this causes stress, so how can you ease your workload?
How big a deal is stress?
According to Paul J. Rosch MD, the president of the American Institute of Stress:
“Chronic job strain can put both your physical and emotional health at risk.”
The Health and Safety Executive (HSE) has stated that businesses in the 2015/16 period lost 11.7 million working days through stress-related illnesses. The average number of days off work per case of stress, anxiety or depression was 24.
Business owners are the best people to work on strategies to grow their business, but they are not necessarily the right people to work on the day-to-day running of the business. A good business owner will be able to delegate jobs either through delegating or outsourcing.
Accounts outsourcing
One task area that managers and business owners can spend a lot of time on is the accounting and financial planning of the business. Even with accounting software to help, it can take considerable time to keep the financial records up to date.
Finance and accounting is one area that can be outsourced to an accounting service. This not only benefits a business by freeing up time, but a good outsource accounting service will bring financial expertise to the business that is valuable in financial planning, maintaining cash flow, and ensuring that there is sufficient working capital available.
What are the benefits?
First and foremost, accounts outsourcing saves you time, and this time can be used to create a more productive and better company.
Additionally, outsourcing accounts give you access to financial experts who thoroughly understand business and how financial planning can contribute to profitability.
Outsourcing can save you money on software too. Professional accountants use the top accounts software, which can cost several hundred pounds.
Lastly, outsourcing means that if your business expands and the accounting job becomes larger and more complex, you will not need to hire extra financial staff. A good account outsourcing firm will have the flexibility to adapt to any increase in your business.
All in all, it’s an approach that makes sense because it reduces the workload and the stress on business owners and management. Stress-free managers are not only happier, but more productive too. For an informal chat about how we can lower your stress levels and ease your workload, speak to Sollertia today.