Can virtual accounting help raise small business optimism when other steps have failed?
The National Federation of Independent Business said that small business optimism dropped in October 2013, reaching its lowest point since March. The drop was greatly influenced by the partial government shutdown, which had small businesses concerned about the economy as a whole. “Uncertainty is the enemy of economic growth,” the NFIB stated in a statement quoted in a Reuters news release, printed here by the Chicago Tribune.
If uncertainty is truly the enemy of economic growth (and we agree that it is), then virtual accounting and online bookkeeping can help improve optimism amongst small business owners. Let’s look at the ways virtual accounting solutions can help small-to-mid-size business owners to create optimism.
Step 1: Achieve timely and accurate online bookkeeping with a virtual accounting firm.
If your financial statements are not up-to-date, there’s no way to know whether you have cause for optimism or not. That’s why timely and accurate bookkeeping is the first step toward optimism. Maybe you should already feel good about where you are… or maybe not. Either way, it’s better to know because then you can take the right action for your company’s growth.
Step 2: Use accurate financial forecasting to find out your best next steps.
With balanced books, it’s easy for a financial controller to assist with financial forecasting. You may become surprisingly optimistic once you see your future prospects. And if not, at least you’ll gain the actionable insights you need to change your company’s path, so you can find reasons to be optimistic about positive changes in the future.
Step 3: Get a good night’s sleep because you finally know the truth about your company’s finances, and can access that information at any time, from virtually anywhere you might be.
Customers today love the convenience of virtual accounting and online bookkeeping. It’s handy to access up-to-date financial information at any time, from any secure internet connection.
Uncertainty is not just the enemy of economic growth; it’s also the enemy of peace-of-mind and a good night’s sleep. When you can access your financial statements from anywhere, at any time, and, even more importantly, you know those financial statements are up to date and accurate because you trust your virtual accounting firm, you have every reason to be optimistic about your business.