Today, many small businesses are implementing outsourcing, which is the term used when a business hires an independent contractor or another business to complete a task.
The benefits of outsourcing over hiring new employees are many. Here are just a few:
- You don’t have to keep someone on the books during “slow” times.
- There are no benefits or employee taxes to pay.
- In many cases, you have a global talent field to choose from, rather than having to hire someone from your local area.
Below are a few areas in which outsourcing could benefit your business.
Accounting Outsourcing
Instead of keeping an accountant on the books or having your administrative assistant keep track of your finances (yes, some business owners have their assistants double as their accountants – YIKES!), accounting outsourcing is generally a wise move.
Just be sure that the person you choose has the necessary credentials and is familiar with the tax laws that pertain to your business. Also, never hand total control of your business finances over to anyone.
Always keep a close eye on the books.
Payroll Outsourcing
This type of outsourcing is one of the areas that nearly every business with employees could benefit from.
It is usually inexpensive to hire a payroll company and they will usually take care of all of the payroll tax requirements. Failure to comply with such requirements can result in heavy fines and, while the regulations are not complicated, just having to take time to learn them can be a pain.
Having this burden lifted is a big plus for most business owners.
Marketing Outsourcing
Many small business owners are great at whatever it is they do, yet some are lacking when it comes to marketing.
Perhaps they don’t have the creativity, or they might just be short on time. Because good marketing is vital to the success of your business, it might be good to consider marketing outsourcing.
They can develop just a simple ad or an entire marketing campaign. That’s part of the beauty of marketing outsourcing – you only pay for the job you need.
IT Outsourcing
Since many small business owners are not as computer savvy as their business may require them to be, IT outsourcing is one of the fastest growing areas for outsourcing.
With IT outsourcing you can have them develop and maintain websites, take care of remote backups of your systems and even troubleshoot and fix many computer related problems remotely. All for MUCH less than putting a good IT guy on your payroll.
Other outsourcing possibilities include software development, legal matters and writing needs among others.
There are wesbites, such as Guru.com and Elance.com, that are good starting points for small business owners looking for some freelance help.
Outsourcing can save your business time and money. It also removes the need to lay people off should business slow down or your needs change.
If you’ve never considered outsourcing, give it a try. You’ll likely find it to be a wise decision.
