Outsourcing: Is it for you?
With more companies under pressure to cut costs during the recession, many are opting to outsource business processes in a bid to minimise their overheads and concentrate on their core business. “Increasing numbers of small business owners are recognising the benefits of operating virtually,” says PeoplePerHour.com founder Xenios Thrasyvoulou. “In the current economic climate it makes sense to remain agile and lean. We’re seeing thousands of small businesses flourish in this way.”
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Mention outsourcing to accountants and they may assume offshore
There are plenty of offshore providers of outsourced bookkeeping and accounting services and many accountants will have been approached by one or other of the key players in this expanding field.
As indicated in this article however, outsourcing can cover a much wider range of services and need not involve the involvement of anyone 'offshore'.
In effect OUTsourcing simply involves using suppliers from OUTside the business rather than staff INside the business. The term is most often used when there is a continuing demand for the service but where it is not going to be done by staff or INside the business premises.
Mark Lee
Tax Advice Network