The right time to recruit an in-house accountant

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In the early years of running a business, it’s possible to get by using self-taught friends and family to handle the bookkeeping, outsourcing the more complicated aspects to an external accountant. But there comes a stage in the growth of any business when it’s more cost-effective to hire a dedicated accountant.

When your accounts are simple it’s probably possible to fit finances in between your day-to-day, money-making tasks.

And finance probably isn’t your speciality. It certainly won’t be your only priority. That’s how mistakes happen and opportunities are missed. A dedicated finance professional will be on top of the minutiae, and can find ways to cut costs, maximise income and plan long-term.

Similarly, trading internationally is fraught with financial and legislative complexities that are ripe for mistakes and lost money. Hiring an in-house accountant isn’t a cost, it’s an investment that opens doors to growth.