How is completing the financial admin tasks in your business affecting you?
According to a report issued by Starling Bank, the average micro-business (a business that has less than 10 staff a turnover less than 1.7 million) spends 15 hours per week or 19% of their time in total doing financial admin tasks.
The report studying more than 1,000 micro businesses, found that the smallest firms were disproportionately affected by this, with sole traders spending almost a third (31%) of their time on financial admin work, and companies with one to four employees devoting a quarter (25%) of their time to it.
The report also found that a third (32%) of micro business leaders saw accounting as the most stressful part of running their business and the most likely to eat into down time. With one in ten firms (11%) reported that they had sleepless nights about financial admin work and 12% admitted that it negatively affected their holidays.
Interesting the report also found that 88% of business leaders who employed an accountant and used the cloud accounting software Xero were still operating after 5 years compare to 41% of business owners who decided to do the admin tasks themselves.
The facts speak for themselves.
We can give you back 15 hours a week.
You can enjoy your down time.
We can take away the stress.
You can have a holiday and relax knowing everything is taken care of.
We will work with you to ensure your business is the success you dream of.
At Get Smart Accountants we work with our clients to drive growth and help them achieve their dreams.
If you’d like some advice or support to get your business moving in the right direction, then we’d love to hear from you.
Call Emma or Paul on 01902 212937