There is a belief among small business owners. They believe by doing everything themselves they can save money and time. I am here to tell you – from experience – this is wrong.
After running a small business for over 10 years I have learned that I am capable of wearing many hats but it’s best to let those who are experts in their fields work for you. A business owner who is chief cook and bottle washer will have challenges growing their business.
You probably believe you can do your bookkeeping and taxes because you know how. And that’s great. Then the challenge becomes time. Accounting work is time-consuming generally error-prone and subject to deadlines. If you are not up to date, CRA is on your back and you have no clue how your business is doing. Very risky!
There is no greater freedom than the feeling of letting go of some of those responsibilities. Hire an expert to take care of it for you, whether it’s your accounting, marketing, sales, HR or the many other experts who can help you run your business smoothly.