The government shutdown has caused a domino effect, which has trickled down to small business owners. The impact of government closures has created a negative impact on many small businesses, and it may take several months for these businesses to recover. Even though the government was shut down for only a few weeks, it could take as long as six months for small business owners to recover. These business owners don’t have control over the decisions that are being made by the government, but they are still directly impacted by the events that happened in Washington.
Because of the financial impact from the government shutdown, many business owners are looking for ways to cut costs and save money. Certain services are needed to keep the business running, but those professional services can really add up. One option to save on professional services is by hiring a small business accountant to help with the financial management of the company.
When a business owner is working with a small business accountant, the business owner can focus on running their business instead of trying to decipher the numbers on the accounting reports. The small business accountant will step in and to analyze the strengths and weaknesses of the company, and help the business owner understand how the money is flowing throughout the year. The accountant will be able to provide a real-time picture of the inflow and outflow of cash within the company, which allows the business owner to make decisions based on the finances that are available. On the other hand, if this information is not being tracked, then the owner is at risk of making a poor decision because they didn’t have the necessary information to help them move the company forward financially.
It can be expensive to hire a full-time accountant to work for your company, but the services can be outsourced for a fraction of the cost. Companies such as GoodAccountants.com offer a small business owner the ability to connect with a good accountant who has the skills and training to manage the books and keep the business on track. The accountant will be able to offer advice on financial decisions that are being made within the company, in order to manage cash flow and assets of the business.