If You Run a Small Business, You Probably Struggle With This One Task


Accounting jobs

If you own a small business — regardless of the product or service you sell — what’s the one thing you hate doing more than anything else? If you said “bookkeeping” or “accounting,” you’re not alone. According to a survey conducted by TD Bank in 2014 that asked 508 different small business owners which part of running a business was the most stressful and time-consuming, the overwhelming majority of business owners said that accounting was the worst part about owning and running a business. Even though 96% of respondents stated that they loved owning a business because of the flexibility and control they had, nearly 60% of respondents said that bookkeeping tasks — AKA, the responsibilities usually handled by accountants and financial analysts — were the most stressful after a work week of 40+ hours.

So why should small business owners care about these survey results at all? These aren’t to say that you need to run out and hire a chief financial officer or finance manager, but it’s likely that you could benefit from bringing in an accountant or financial analyst — someone who’s on the lower end of the spectrum of jobs in accounting, in terms of salary, but who has enough experience with corporate finance that he/she can handle all the monotonous paycheck and tax calculations that become cumbersome for you after putting in a full week of work (and probably even more than that, if we’re being honest).

Many people looking for jobs in accounting not only have experience and education with newer technology, but also have the drive to create a solid career for themselves in corporate finance — meaning that your business can bring on an accountant or bookkeeper to get financial records in order, but then allow those responsibilities to grow as your company becomes more successful. Many financial managers, for example, handle complex record-keeping, investing, and financial risk management — which might be unnecessary for a small business initially, but is incredibly important as the business expands.

Now we’re asking you for your own experiences running a business — are you considering hiring a bookkeeper? If you already have hired one, what’s the biggest advantage you’ve found? Be sure to share any comments and questions with us!

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