The Importance of Record Keeping For the Small Business Owner

As a small business owner, you have no doubt heard it is important to keep accurate records but you are busy, and besides, you have gotten along fine so far. You do not see how it can be worth the time it would take. And besides, you need to spend your time making money, not wasting it on tasks that don’t add to the bottom line.

The truth is there are few things more important to any business than keeping complete and accurate records. Without these records, you will not have the information to make important decisions that affect the business. For example, you will not know if you can afford to hire employees or even know which of your products or services are profitable or should be discontinued.

Every successful business owner needs a goal system that allows them to use their time in the most efficient way possible. If you do not have complete and accurate records, you will not be able to set reasonable goals or even determine if you have reached the ones you do have.

Without accurate records you will not be able calculate your taxes or comply with any of the myriad government regulations all businesses are subject to. Not only will you not be able to correctly calculate your taxes, you will likely overpay since you will not be able to take advantage of deductions you might otherwise be entitled.

With the ease of use and the low prices of modern accounting software, there is no good reason to not keep good records. These packages can get you set up with a workable system in just a short time. You will want to have an accountant to do your taxes and it might be a good idea to have this same person setup your accounting software as well. The money spent will be well worth it.

In today’s economic environment, every business needs every advantage they can and if you are not keeping accurate and complete records, you are missing out on one of the most important advantages that any business can enjoy.

Promoting your small business need not be an expensive task. Promotional stick pens start at around 10p per pen so you can purchase a few thousand and not be terribly out of pocket. There is an enormous range of budge pens available for you to promote your business. These inexpensive promoters will help you to get the word around about your goods and/or services and will help your business succeed.

How will they do this? The answer is easy. If you own a small car garage or pizza takeaway, for example, ensure that you have plenty of pens at the front counter printed with all your details and logo. Your customers will regularly need to borrow them to sign their signature or fill out a form. After a while, you will see that your very well stocked box of promotional pens is getting low. This is because people take pens without realising it.

This is good news to you. What good are promotional pens if they are sitting in a box behind your front counter? Each time your customer takes one or two of your pens home with them, they are taking a very useful product that they need regularly. Your pen could help ensure that they have your details to hand whenever they go to write something. They will also know where your details are when they require your goods and/or services.

Inexpensive pens are excellent gifts because they are serve an important purpose. Everybody needs to write almost daily. You can afford to let your customer have a few. You may even like to have them of the front counter of your shop to encourage your customers to take them home with them. The more they take, the better because you want your details to be in their desk drawer when they next require your products and/or services.

If you are on a tight budget and have never used promotional gifts before, why not order yourself a couple thousand cheap stick pens and see how it goes. Numerous studies have been done that suggest that you should receive many orders from your relatively small purchase. If you would like to learn more about budget promotional pens and how they could help your business succeed, contact your local promotional gift supplier. If you do not have a business gift supplier, type ‘promotional pens’ into Google.co.uk and contact a few of the companies that specialise in promotional pens.