Is outsourced finance suitable for a small business?

A small business with staff, VAT, multiple income streams or fast growth can need more finance support than a larger but very simple business. Turnover alone is a poor test.

It isn't only for large businesses

A small business with staff, VAT, multiple income streams or fast growth can need more finance support than a larger but very simple business. Turnover alone is a poor test.

Only use the support you actually need

A small business may not need every element of a full finance function. You might start with bookkeeping and compliance, then add reporting or strategic support as the decisions become more complex.

Where outsourcing should add value

Outsourcing is useful when it removes significant admin from the owner, improves the quality of the records or provides information that changes decisions. If it does none of those things, the service may be more than the business needs.

It should be able to grow with the business

A good outsourced setup should be able to expand without forcing the business to replace its finance process every time it reaches the next stage.