How to decide whether bookkeeping, payroll, accounting, tax, finance leadership or reporting support should be the first external hire.
Why this matters
Outsourcing the wrong thing first is expensive. It can create extra coordination work without freeing the owner from the activities that are really holding the business back.
Questions to ask
- Which finance activity takes the most owner time each week
- Which activity carries the most risk if it is done late or incorrectly
- Which activity, if done better, would most improve decision making
- What is the cost of doing it internally compared with externally
Typical starting points
- Bookkeeping and bank reconciliation, when records fall behind
- Payroll, when staff numbers and statutory complexity grow
- Management accounts, when the board needs better information
- Tax compliance, when planning and risk increase
- Fractional finance leadership, when strategic capacity is missing
Practical steps
- Map the current week of the owner and the finance team
- Identify the activity that costs the most in time, risk or quality
- Outsource that activity first and measure the change
- Review the position again every six months as the business grows
How Bracknwell Partners can help
Through the SME Hub, our virtual finance office and fractional finance teams, we help owners decide what to outsource, when and to whom.