Confidentiality and respect for client information is paramount to good bookkeeping. Supporting small businesses in compliance and day-to-day administration can alleviate small business owners from the often tedious tasks of administration.
This allows them to focus on what their business is good at and achieving their business goals. Increasing productivity, creative endeavour, research and development are just some of what small businesses can do well.
Small businesses play a significant role in the Australian economy, accounting for almost half of employment in the private non-financial sector and over a third of production. Small businesses are an important source of innovation in the economy, yet 57% of businesses with four employees or less fail in the first four years, according to the Australian Bureau of Statistics.
While there is a multitude of reasons why their survival rate is low, juggling administration, as well as building productivity, can be a significant contributor to failure. According to a report published by the US National Small Business Association in 2016, administrative burden outpaces financial burden as the largest burden facing small businesses. Meeting regulatory requirements, and accounting for everyday expenditure is often not within the skill set of small business owners.
This is where outsourced bookkeeping can be invaluable. The Investment Collective’s bookkeepers provide support for a growing business on a time/needs basis.
Organisation, accuracy, reliability, sensitivity, the ability to deal with a range of people and assimilate information readily, are just a few prerequisites for a good bookkeeper.
As your small business grows, you will more acutely feel the need for professional advice and assistance. At The Investment Collective, we have business and investment expertise which we will draw on to provide your business with the assistance and advice you need in order to expand your business or encourage it to thrive.
We will do what we do best: support and assist your business to grow. We know what it is to be a small business, how to grow a small business and how to succeed in a difficult environment. If you would like to find out more about how our bookkeeping services could benefit you and your small to medium-sized business, and receive personal advice, contact us today.