The responsibilities of a business owner are endless. Not only are business owners tasked with running their business and managing their employees, but they need to handle all the behind-the-scenes aspects of running a business, too.
That includes areas like legal, taxes, admin, HR, and more. There’s no way around it: business owners have a lot on their plates.
If you’re embarking on your first business venture and feel overwhelmed by the number of responsibilities on your shoulders, we’ve got good news. You don’t have to go at it alone. There are a wealth of services that can help you manage the nitty gritty, so that you can focus on running your business.
Read on to learn 3 services that every business should have.
1. HUMAN RESOURCES
When it comes to services that small businesses should outsource, human resources sits at the top of the list. Human resources is the department of your business that handles all employee-related matters. That includes things like hiring, managing benefits, training, and more. In addition, human resources handles extremely sensitive employee relations at work, such as conflict mediation, complaints, and more.
When starting a new business, many business owners decide to take human resources on themselves. After all, it is their company and they’d like to be in control of all matters that relate to their employees.
Unfortunately, this is a fatal mistake. Not only will this bog you down with all sorts of paperwork and legalese, but it also creates a serious conflict of interest. Employees don’t want to turn to the owner of their company for help dealing with extremely sensitive personal matters. Effective human resources departments act as unbiased 3rd parties for employees to turn to for help. This frees employees to confide in their human resources personnel without fear of unintended consequences or retaliation.
The good news is, there is a wealth of options when it comes to building out your HR. Rather than hiring a full-time HR employee, you can outsource your HR matters to an external human resources service. Not only will they have the skills and know-how to handle the complex world of human resources, but they’ll be a truly unbiased third party to assist with matters at your company.
2. COMMERCIAL PROPERTY AND CASUALTY INSURANCE
If human resources is the entity that protects your employees, commercial property and casualty is the entity that protects your business and property. This is a type of insurance that protects your business in the event of an accident, threat, or other loss to your property.
Commercial property and casualty business insurance is especially important if your small business leaves employees handling heavy machinery, operating commercial vehicles, or in other potentially dangerous situations. These leave you at a higher risk for dealing with automotive casualty claims, workers’ compensation claims, out-of-network negotiations, and more.
Rather than taking on these extremely complex claims head-on, work with an insurance partner to handle your P&C matters. By outsourcing your insurance to a full-service property and casualty insurance partner, not only will you free up your time and attention, but you’ll also gain the peace of mind that matters are being handled correctly and efficiently.
3. TAX SERVICES
If you found taxes complicated as an individual taxpayer, just wait for tax season as a business owner. As an individual, your tax papers are sent directly to you, and you simply need to copy and paste numbers into your tax returns by April 15th. As a business owner, taxes are much, much more complex.
Business owners don’t just have to file income taxes for their business by the federal tax deadline. They also have to manage withholding from employees’ paychecks, regular estimated tax payments to the IRS, the creation and distribution of employee tax forms, and so much more.
Rather than handling your business taxes alone, find a tax services partner to take care of the process for you. While it may cost you a bit more upfront, it will save you time and sanity. Even better, a tax professional may know ways to save your business money on your taxes. There’s nothing wrong with that!
As a small business owner, your time is precious. Rather than handling all of your matters under one roof, outsource these services so that you can focus on your most important responsibility: running your business!