How Small Business Owners Can Better Focus On Generating Revenue
Posted On: 06/07/21 - 0

Focus on Generating Revenue 

For any business, the key challenge is to juggle between the many activities that are essential to your business’s survival. More importantly, generating revenue. Some tasks in your business are those that directly lead to the growth of your business. These activities bring in profits, more clients, and just as important, lead to the overall expansion of your business. On the other hand, there are other equally important activities. These tasks would include maintaining payroll, accounts payable and receivables, managing staff, etc. These non-core activities don’t directly boost your revenue.  But, that doesn’t mean a business should ignore their importance. Here is a list of activities on how small business owners can focus on generating revenue in their corporations.

Outsourcing Business Accounting

If you own a small business in Edmonton, you have a mid sized to large team of employees to assist with your business. Now, the question you face is who’s handling the accounting? It is important as an entrepreneur of a small business to maintain your financial records regularly. It is also important in hiring a professional accountant who is as passionate as your are about your business.  To reduce your overhead costs, it may be a consideration to outsource a service that specializes in small business accounting.

Outsourcing Business Bookkeeping

Bookkeeping represents one of those business functions that is imperative for any organization’s successful operation. The problem with handling bookkeeping on your own is that you won’t be generating revenue from it. Bookkeeping involves a considerable number of hours each week to stay on top of this administrative task. If you make errors, this can cost you unnecessary time and finances to correct the problem. In addition to that, you could be making critical business decisions based on misinformation by not having reconciled books. You need to be focused on providing stellar customer service, you simply don’t have the time to be reconciling/amending your books. This is why it’s important to consider outsourcing this all important duty to a firm that provides bookkeeping services for small business owners.

Outsourcing Tax Preparation

Every profitable business must pay it’s taxes. Why not align yourself with a licensed business accountant that is well versed and up to date in all current tax laws. If there are irregularities with your tax returns, this could become a concern of the CRA’s and quite possibly trigger an audit.

Looking to learn about how small business owners can better focus on generating revenue by outsource your accounting, bookkeeping and corporate tax returns? call Cheryl at 780-482-7297

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297