It’s a beginning of the year again. The New Year is a good time to make resolutions.
Here’re some of the Top Ten New Year’s resolutions, according to About.com:
1. Spend more time with family and friends
2. Enjoy life more
3. Get out of debt
4. Learn something new
5. Get organized
What’s yours?
As small business owners, at the beginning of the year we are hoping that our business will be better than last year. We realized that we made mistakes last year and this year we make a promise not to make those mistakes again. It’s good! But how?
Say, we want to spend more time with family. How do we get more time? There are 24 hours in a day and it’s given. We cannot change it, can we? So How?
One of several things that you can do is let someone else does your clerical works. For example, let your accountant do your bookkeeping, payroll and tax remittances. By doing this, you will get your time back so you can fully concentrate on running your business. Not only that, but also you will be getting more accurate and reliable information so you can make better business decisions. You most likely will be able to save money, i.e. no more late penalties, etc. The bottom line your business will become more profitable.
Sounds good? Yes.
If you do not have accountant, go find one. There are so many accountants out there. But, please be careful in choosing your accountant. Make sure they provide all services you need, such as accounting, payroll and tax. So you do not need to deal with different company for different services. Dealing with one person is better than with two or more. You will save time, money and get better advices. I would recommend that you hire an accountant that suitable to your business that is specialized in small business, and can help you on tax planning.
How about if you already have one?
Do you meet them regularly, i.e. every month? Are they accessible whenever you need them? Do they provide all the services you need? Do they treat you as a number or as their business partner? Are you satisfied with their service? Etc...etc.....
Do not be afraid to change your accountant! I am sure you must have goals and objective when you start your business at the beginning. Therefore, if your accountant cannot help you to achieve your goals, do not feel bad if you have to fire your accountant. It is similar when you have to fire you employee because he/she is not productive or does not perform well.
Again, we are in the beginning of the year. It’s not too late to make a plan and make some necessary changes so your business can be more profitable.
