Outsourcing is the way forward for many SMEs
Outsourcing is no longer a consideration just for large firms. With the array of services available to businesses of all sizes, outsourcing can be an effective solution for small businesses who don’t want to take on staff dedicated to an area that may not require full-time support, whilst some businesses will simply prefer to keep the employee count down in the start-up phase.
There are many areas where outsourcing is valid and provides a great solution to getting some dedicated support without long-term commitment. Marketing is one such area; encompassing PR, social media or SEO services, this can be a time consuming and difficult area to navigate for a business owner without the knowledge or resource to dedicate to it, these these services can be really beneficial to business profile and therefore growth. Some businesses may also choose to outsource business operations functions such as telephone answering or project management. With these services just a Google click away in most cases, they’re not only generally easy to source but the rise in online reviews means a certain amount of research on their performance can be done without really putting in much effort.
Of course, in most cases, word of mouth recommendation is the best kind of endorsement for a service and any business owner considering outsourcing should try and seek recommendation from trusted colleagues and peers.
Other areas ripe for outsourcing can include law, HR, financial services and of course accountancy, but we have found that businesses are also looking for greater support in these areas – particularly with the arrival of auto-enrolment, businesses have had to bring on board financial service providers to help them put this mandatory obligation in place.
We often find that we may work with a business perhaps offering one service to them, but as they become aware of the other solutions available they are keen to add those to the outsourced list, as quite often, the hassle or time involved in performing functions such as payroll, monitoring and forecasting and other business accounting duties can outweigh the cost savings or the mistakes that can be made when there is a lack of specialist knowledge. Business owners must balance the resource and more often than not, their time is better spent in progressing the business and getting on with other business operations, rather than having to keep on top of accounting.
When an extra level of support is needed, business owners should certainly consider outsourcing. Adams Moore launched the Board Support solution specifically to meet the needs of busy business owners who might need that extra tier of support and someone to focus and keep an eye on the finances. We have found that in some cases, it has allowed the business to think about going to the next level and we have helped them identify opportunities they might not have spotted themselves!