The benefit is that even if you lose your personal computer, all your documents are stored securely online. Cloud storage usually costs a small fee each month, depending on the package you opt for. When thinking about how to organise small business files, you can store your invoices, receipts and business records on your own computer, or use the cloud.
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- So, we’ve put together this simple business administration guide to demystify the processes you need to think about.
- You’d then need to hand over these receipts to your accountant, which can be time consuming (and there’s always the risk of losing them).
- Serving more than 100 million customers worldwide with TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp, we believe that everyone should have the opportunity to prosper.
- This is evidence that even if you dread small business admin right now, with a little bit of time and patience, you can learn to boss it.
At the most basic, you need to write all this information down on paper or use a spreadsheet. You must keep records of income and expenses, and you’re also obliged to pay your taxes to HMRC each year. Stacey has more than 18 years of editorial, PR and social media experience and has worked across print and online for national newspapers, magazines, PR and marketing agencies.
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Small Business Administration continues to help small business owners and entrepreneurs pursue the American dream. The SBA is backed by the strength of the federal government and is the only cabinet-level federal agency fully dedicated to small business. With a powerful seat at the table in Washington, D.C., the SBA promotes job growth and a stronger economy by advocating for and supporting small businesses. WeVENTURE accelerates sustainable business growth for women entrepreneurs through our business education courses, purposeful networking events and the signature mentoring program IGNITE 360. In this business education course, Vince LoPresti from the Small Business Administration will discuss SBA Programs and Services available to business owners and entrepreneurs. Vince LoPresti is the Supervisory Lender Relationship Specialist at the U.S.
Small business accountants and bookkeepers are also able to process many of your admin tasks and ensure everything is done correctly and above board for HMRC. Experienced administrators and virtual assistants can manage all your admin tasks and find ways of running the business more efficiently. Today, most business owners prefer taking photos or scans of their receipts and keeping them digitally. It’s easier to search through them this way – and you reduce the chance of things getting lost. You have to pay for these services, but they make admin jobs much faster.
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Put a reminder in your diary for when you need to complete specific tasks and set aside the time to do each of those jobs. Different tasks should be done daily, weekly, monthly or yearly. Other business admin tasks aren’t obligatory, but they can make your business run more efficiently. This is evidence that even if you dread small business admin right now, with a little bit of time and patience, you can learn to boss it.
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A lot of it is down to organisation and giving yourself the best chance of completing your tasks whilst leaving plenty of time to focus on your other business requirements. When you’re a business owner, admin work can be the last thing that you want to do. Chances are that you have other things that you would rather focus on, like growing your business and taking care of your customers. Unfortunately, admin is a necessary activity that you will find essential for the day to day running of your small business. Brent crude futures for July settled down $2.82, or 2.5%, at $109.11 a barrel. West Texas Intermediate crude for June fell $2.81, or 2.5%, to $109.59 a barrel.