The Evolution of Small Businesses and The Services We Provide
Small business owners initially start with a plan, a few customers and sales, and then eventually grow to hire additional employees. As your business becomes more complex, NFG will be there to help you focus on growing your business without worrying about the back-office finance functions.
Bookkeeping & Payroll
Spending time on bookkeeping takes you away from managing your business. By outsourcing your bookkeeping to us, you focus on growing your business knowing we are on your side.
As your business grows, you will likely need to hire a highly qualified financial professional as a CFO or COO. With our Virtual CFO services, you will pay a fraction of what you would pay to hire internally.
If you're self-employed and do not have a retirement plan set up, you might be missing out on considerable financial benefits you could have as a business owner. Start saving on taxes and building a retirement nest egg.
As a small business owner, you can't afford to waste time on non-value add tasks.
As a CEO or small business owner, your time is precious and often limited. As the old adage goes, “time is money,” and that money is either lost or gained depending on how you spend your working hours.
The amount of productive time lost by shifting between tasks.
hours lost per year not including the time spent on non-value add tasks.
Four Advantages of Outsourcing Some of Your Accounting and Finance Functions
Your back office operations expand during rapid growth periods. At some point, these activities consume too much of your human and financial resources at the expense of the core activities that made your company successful in the first place. By outsourcing these activities you can refocus your in-house resources on the activities that made you profitable without sacrificing quality or service.
Outsourcing allows you to concentrate limited resources on your core business so you can be more profitable. You will be able to spend more time with your customers so your organization can offer them a higher level of service. Focus on your strengths.
Requiring less staff time for internal accounting functions will allow you to save employment costs such as salaries, payroll taxes, benefits, training and recruitment expenses. Hire employees that will focus on your main business purpose rather than auxiliary services.
By picking and choosing only the types of services you really need from your outsourcing partner, you will be able to eliminate unneeded overhead expenses in those areas. Businesses need to concentrate on the return of every dollar they spend and be ready to deploy resources where they can maximize their leverage quickly.
Faster and Better Business Decisions
The ability to provide higher quality accounting information faster, more efficiently and with greater effectiveness is crucial. Working with accounting professionals will yield more reliable information to make improved business decisions in less time.
You will not need to spend time and money trying to keep up with an avalanche of new laws, policies, procedures and technologies. Missing critical business signals because you are not able to access the financial information in the form you need it, when you need it, will put you at a distinct disadvantage in today’s hyper competitive environment.
Reporting errors can be very costly. The penalties and interest charges for payroll and income tax mistakes are staggering. Litigation expenses and judgments levied against an entity can literally put it out of business overnight. Placing the responsibility for these types of expenses on trained professionals will greatly limit the risk of losses to your organization.
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1612 Westgate Circle Suite 218
Brentwood, TN 37027