The Answer

Most business owner-managers find that they spend only a small percentage of their time on important strategic planning. A great deal of their effort is spent on the day-to-day running of the business - the 'housekeeping' side of things.

But do you really need to do all this work yourself, when it is possible to get someone else to do it for you? The chances are that significant parts of the car you drive are not made by the manufacturer whose name appears on the badge, nor even assembled in their factories. Some motor manufacturers now outsource not only parts but complete assemblies - steering, transmissions, engines, interior assemblies.

The rapid development of internet and web technology has enabled many accounting activities to be outsourced, and a physical presence is no longer necessary for many accounting activities.

There can be considerable benefits in accounts outsourcing, which include reducing costs and freeing up valuable time to concentrate on running your business.

Payroll has been the traditional task to be outsourced. However, many companies, including major household names, are outsourcing large swathes of their accounting.