The trade industry has had its ups and downs within the last year as a result of COVID-19. Since the announcement of support initiatives for home buyers that were outlined in the 2021 Federal Budget, the Australian trade industry has been booming. One of the most underrated but fastest growing industries, there is simply not enough tradies compared to the demand for their services.
As technology becomes more integrated into everyday life and business, the trade industry still remains outdated when it comes to digital processes. When asked what is holding your business back, most tradies say the same thing: the paperwork. Plumbers, electricians, builders and other trade business owners are spending on average 14 hours per week on preparing quotes and administration tasks.1 That’s two days of business lost and is costing on average $120,000 worth of business annually.1
As a small business owner, there may be tasks that only you can do and if you are overloaded with paperwork, you will fall behind. Outsourcing the general admin tasks that others can do is simply just a smart business decision and will not only save you time but is more cost-effective. There is no shame in admitting what you and your team are good at and outsourcing the rest. Just how you are experts in your trade, there are people in accounting, bookkeeping, telecommunications, marketing, and design, who you can outsource your tasks to.
The tradie lifestyle is already early starts and late nights, so if you can outsource the tasks to give you your time back, why wouldn’t you?
By outsourcing you can:
- Focus on why you started your business – whether it was to help people with their renovations, or to work in an active field, outsourcing can help give you your time back.
- Reduce your stress – by taking out these important tasks you can alleviate some of the pressure.
- Streamline your processes – an expert can help you improve your efficiency and productivity.
- Save money – outsourcing usually works out to be cheaper than hiring someone internally with a salary.
- Sleep better at night – feel good knowing that your paperwork and other tasks are being completed by an expert.
- Identify your blind spots – when you hire someone externally, they see faulty areas of your business that you didn’t notice.
Outsourcing is growing in popularity as business owners uncover the cost and time benefits that it can have. The expenses of having an employee quickly add up, not to mention the time that you need to invest to get them up to speed.
Using programs like MYOB, Xero and SimPRO allows you to be able to streamline your business processes and keep track of your business.
How Carbon can help your business
Carbon offers the full spectrum of bookkeeping services, whether it’s simply setting up a cloud-based bookkeeping system for you to work from, lodging your quarterly BAS or paying all your bills on a regular basis. These services include data entry, accounts payable and accounts receivable, debt collection, payroll, super, GST and BAS lodgment.
A virtual assistant can help you with a range of general administration and financial tasks. You’ll see the benefit of having your work completed by a professional, without needing to hire an employee. Not only will you enjoy the reduction in expenses, but you’ll also have the flexibility to adjust the hours that you need the virtual assistant to work if there’s a sudden change.
You will also enjoy the peace of mind knowing the work is being done by well-trained professionals and have an open line of communication for updates.
Get in touch with us today to find out how we can help your business.