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Growing a business

Cost Reductions for Small Businesses: Outsourcing

Cost reductions help your small business reach profits faster. As you grow, you may find it tough to keep up with all the daily tasks that keep your business afloat, but hiring employees is costly. Outsourcing some of the workload can help you cut costs to boost your bottom line.

Outsourcing tasks for your small business may seem like an added expense that you can’t afford, but it can actually help you cut your business expenses. When you hire an employee to help with the workload, you have to pay the salary plus other benefits. Supplies and resources for each staff member also increase your overhead costs.

When you outsource, you contract for just the amount of work you need done at any given time. It’s usually much cheaper to pay a freelancer for certain jobs than to pay a full-time staffer year-round.

Grow Your Business With QuickBooks

Another benefit of small business outsourcing is having access to an expert. For example, instead of hiring a full-time marketing staff member, you can contract a marketing expert to handle the work. You get quality results without spending lots of time and money on the project.

Outsourcing lets you focus on your favourite parts of work and the things you feel most comfortable doing. If you’re not comfortable with writing, you can outsource your website, blog, marketing, and other business copy to a freelance writer. Someone who writes for a living can produce quality copy quickly, while you can continue working on pressing tasks to keep your business growing.

Accurate record keeping helps you track your expenses for outsourced work. When you use QuickBooks Online, you can track all outsourcing and other expenses in real time with automatic backups in the cloud. You can also see how much you spend on any employees you have on staff so you can compare the two.

Getting work done quickly by pros through outsourcing can save you a lot of time and money. Consider outsourcing the tasks you don’t like, don’t have time for, or don’t feel comfortable doing to help boost your long-term profits.