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Growing Pains?
By Jason Dormer

It is a common challenge for owner run firms of accountants to reach that period of growth where there is too much work for one person but not enough to employ another.


Many accountants find themselves struggling to balance administration, marketing, client inception procedures, invoicing and credit control in addition to the core fee earning work of bookkeeping, VAT, accounts production and tax services.

We are often asked by our clients what options they have when faced with this challenge which is a direct result of the success of their business.

There are a number of ways, including:

Employ a member of staff
Advantages:

Disadvantages:


Using a subcontractor
Advantages:

Disadvantages:


Outsourcing
Advantages:

Disadvantages:

The above measures deal with the operational, fee earning side of the business. However, it is possible to greatly reduce time spent per client, without reducing quality, by putting in place some simple measures to increase efficiency and profitability without compromising quality. With these improvements, you may find that you have the additional time and profit required, without needing to employ, outsource or subcontract.

These include:

If you are reading this blog then the chances are you are in the position outlined above. Give yourself a pat on the back, you have reached the first stage of growth. The next step for you is of vital importance, make sure that you get it right for you and your business to move up to the next level.

If you would like to discuss your situation in greater detail then please contact us on 01268 417 631 for a free consultation.