As your business grows, you may find that those empty chairs around the office are begging to be filled.
Who doesn’t like a bit more chatter around the office and an extra person waiting to use the microwave at lunchtime?
Your growing business also comes with growing financial records and more work needed to keep on top of everything.
The temptation might be to fill that empty space in your office with your very own in-house accountant or finance team.
However, hiring might end up being a costly mistake in the long run.
In the same way that dogs are for life and not just for Christmas, an internal accountant will need to support your business all year round, not just during your year end.
An accountant will become a valued member of your team and will need a competitive salary to reflect that.
It is worth remembering that, on top of that, you will need to provide pension and National Insurance contributions.
In total, this may end up costing you a significant amount to attract a talented accountant to your business.
If you do invest this money into an in-house accountant, and the time and energy it will take to train them to suit your specific needs, it may not be as long-term a solution as you would imagine.
A study conducted by ACCA found that flexibility and career growth is one of the most important considerations that influence accountants’ career choices.
Accountants may be unlikely to stay with your company as the ACCA survey found that “44 per cent expect to move to their next role in 12 months, rising to 69 per cent over the next two years.”
Outsource your accounting needs
The answer to your problems may be outsourcing your finance functions to an experienced firm.
Gain access to a broader range of expertise and the latest accounting technology without the significant costs associated with hiring a dedicated employee.
Outsourcing accounting means that you do not have to deal with the headache of holiday time or sick days as a robust accountancy firm will ensure that you never notice any issues with staffing.
Outsource your accounting needs so that you can focus on growing your business without the everchanging financial landscape holding you back.
Now is the perfect time to outsource your accounting, so speak to our team today.
