This article has appeared in this months’ Business Network magazine:
‘Small business owners have been told that looking after the books is a waste of their valuable time and they should concentrate on running their business .
That was the advice given to small business leaders by Garry Carter, Chief Executive of the Institute of Certified Bookkeepers.
Mr Carter added that too many business owners believe that they are saving money by doing the books themselves when they are wasting valuable time that could be better spent running the business.
‘Small business owners have to become jacks-of-all-trades’ said Mr Carter. ‘Human resources, payroll, recruitment, hiring and firing, marketing, health and safety, EC legislation, VAT returns and financial control. Most business owners have little or no financial training or background and learn on the job. This can be costly,both in terms of time and penalties when things go wrong..
…It should be a simple calculation of how much the the business will have to pay a bookkeeper to take over the books and how much extra work the owners will be able to do on the business with the time that is saved.
Only take on someone who talks to you in a language that you understand’
All good advice!