Mrs. Nwakaego Altraide explores the challenges faced by small businesses in hiring full-time experts and highlights the trend of outsourcing as a viable solution.

She notes that while most small businesses lack in-house experts due to cost constraints, outsourcing offers a practical alternative.

With 80% of small businesses thriving without in-house experts, Mrs. Altraide delves into the reasons why small businesses should consider outsourcing various services such as accounting, tax, budgeting, and IT. Citing statistics, Mrs. Altraide illustrates the growing trend of outsourcing among small businesses, with over 90% in the US outsourcing expert services. She emphasizes the benefits of outsourcing, including cost-saving measures and access to specialized talent.

Moreover, she explores how outsourcing has helped small businesses streamline operations, reduce labor costs, and remain competitive in the market. To aid small businesses in finding the right platforms and experts at affordable rates, Mrs. Altraide recommends dedicated outsourcing platforms. These platforms provide a centralized hub for small businesses to search, compare, connect, and align with qualified professionals.

By leveraging outsourcing platforms, small businesses can save time and money while accessing a wider pool of expertise. Mrs. Altraide further provides examples of existing platforms and companies that offer outsourcing services across various domains such as accounting, tax preparation, budgeting, and IT. She underscores the importance of outsourcing in empowering small businesses to stay competitive, create jobs, and contribute to a thriving economy. Finally, she highlights the need for businesses to align with service providers that uphold values of ethics, sustainability, diversity, equity, and inclusion.

Running a successful small business demands expertise in various business process services such as accounting, tax, information technology, and budgeting. However, the cost constraints often make it impractical for small businesses to hire full-time staff for these services. Consequently, many small businesses opt for outsourcing alternatives, despite the challenges of finding reliable and affordable experts. According to statistics from Forbes, 80% of small businesses in the US operate without in-house experts, highlighting the prevalent reliance on outsourcing platforms. In this article, we explore how small businesses can effectively leverage outsourcing platforms to access essential services and experts at reasonable prices.

The trend of outsourcing among small businesses is on the rise, with over 90% of them increasingly outsourcing various expert services such as accounting, tax, and IT services. Notably, accounting is the most outsourced service, followed closely by IT services. Recent reports indicate that 52% of participants in a survey plan to outsource their business processes soon, with the US accounting for the majority of global outsourcing deals.

Outsourcing has proven beneficial for small businesses, particularly in terms of cost savings. For instance, businesses with significant labor costs can explore outsourcing to locations with cheaper labor expenses, leading to substantial savings. Research shows that even large businesses are inclined to collaborate with external experts, highlighting the growing popularity of affordable outsourcing solutions.

To find the right platforms and experts at affordable rates, small businesses can leverage dedicated platforms or companies offering centralized hubs to discover and connect with qualified professionals. These platforms enable businesses to search for professionals based on specific services, compare qualifications and reviews, communicate directly with experts, and ensure alignment with the company’s policies and goals.

The benefits of utilizing outsourcing platforms include cost and time savings, access to a wider pool of qualified professionals, and upholding company values such as ethics, diversity, and inclusion. Several existing platforms and companies offer outsourcing services across various domains, including accounting, tax preparation, budgeting, and IT services. Examples include online freelance platforms like Upwork and Freelancer, as well as top outsourcing companies like Helplama and Peak Support.

In conclusion, small businesses can effectively leverage outsourcing platforms and companies to access skilled professionals at lower costs, thereby staying competitive and contributing to a thriving economy. With the growing interest in environmental sustainability, ethics, and diversity, businesses should prioritize partnering with service providers that align with these values to ensure a fair and equitable distribution of wealth for future generations.

Mrs. NWAKAEGO ALTRAIDE, FCA, ACCA-Chartered Accountant, brings with her 22 years of diverse experience in the accounting field, holding a leading role in financial reporting, management accounting, budgeting ,variance analysis amongst others. NWAKAEGO ALTRAIDE’s technical prowess and strong communication skills consistently contribute to achieving desired outcomes in a dynamic and fast-paced environment.