When we are raising finance for businesses one common stumbling block is the delay in getting all the required financial information together. From the annual Accounts to Management Accounts, the financial aspect of a business is a blind spot for many business owners.
A recent survey carried out by You Gov found that 62% of business owners found running a business a ‘constant challenge’. One thing many business owners find difficult is to let go of tasks they find tedious or time consuming. This inability or unwillingness to delegate comes down to mindset and in this survey 37% said they struggled leaving employees in control.
One of the many tasks business owners try to tackle is financial control; 25% of those surveyed said they have problems with this aspect of their business. Furthermore 22% said they spend over 10 hours per month on ‘behind-the-scenes’ admin work.
All of this leads to one major downside… 73% say that they can’t set time aside to plan ways to grow their business. Think of the missed opportunities.
So the solution is to outsource those tasks you hate. There are plenty of people out there who can take these tasks away from you. When it comes to preparing Management Accounts, doing the VAT and chasing outstanding invoices get a bookkeeper in to do this for you.
It’s all about freeing up your time so you can concentrate on what’s important to you. An added bonus of course is that when a deal of a life time lands on your desk you have all the financial information ready to go which makes our job in getting you finance that much easier.