Ever since Pakatan Harapan took over the helm at the Malaysian government, we the people have been waiting for the changes and new policies that will be introduced by them. The biggest one by far would be the 2019 Malaysian budget.Read more
Running a business is not easy and we truly respect owners that have the grit and perseverance to start their own business. Although, sometimes, you might make mistakes that might cost the business if you do not find the best people to fit certain roles that are crucial. Today, we are trying to figure out why we feel you might need to outsource your accounting department to actual professionals that are trained in the profession.
If you run your own business, there are already so many things that you need to figure out. This might include things like office rental, business strategies and things like HR policies and the likes of that. The last thing on your mind would probably be having to hire an accountant to clear up the accounts for your company.
In the world of digital advancement and the ease of social media allowing you to grow a business, there are so many new and thriving business out there. It has become such a simple task to set up your own store, start selling and start earning yourself a living. However, with an increase amount of supply, there will be a decrease in demand since everything you could ever want is so easily sourced nowadays with the power of the internet.
So how do you make sure that your small business not only survives, but also thrives? One of the not so popular ways to do this is by keeping a very watchful eye over your reports and processes which are also known as your Standard Operating Procedures (SOPs).
Starting a business is not easy. There are so many things to worry about like hiring, business strategy and the most scary of them all – finances! The finance department is the backbone of the company and is the greatest indicator of all to show you if you are making money or not. Those numbers reported by your finance team should be the main results you look at at the end of every month to see if you’re making money or losing money.