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The Impact of Bureaucracy on SME’s

The Impact of Bureaucracy on SME’s

Are you spending countless hours on business admin tasks? Whether it’s crunching numbers for your accounts or sending endless invoice reminders, keeping on top of regulatory and operational burdens can quickly eat away at your working day.

 

For most business owners, it’ll come as no surprise to hear that SMEs in the UK spend an average of 71 days and £35,600 a year on admin, according to recent research conducted by Sage. That’s more than 14 working weeks that could be spent on growth, attracting customers and increasing revenue.

 

While it’s impossible to run a business without completing these tasks, digitising your business admin can be an excellent way of cutting down the number of hours spent on these burdensome tasks

 

Benefits of digitisation

 

The idea of digitising admin and moving to the cloud can scare some business owners due to the perceived high costs and digital expertise needed. However, most owners have already accepted cloud computing either by web-based storage like Dropbox or email services such as Gmail.

 

Using digital tools for business admin is no different and has the additional benefits of:

 

  • Freeing up staff to take on alternative assignments
  • Helping remove the element of human error
  • Providing consistency in delivery
  • Ensuring deadlines are met through automation

 

These time and cost-saving measures can, in turn, increase productivity and lower costs which will help SMEs survive.

 

To find out more about the administrative burden faced by SMEs in the UK and for more in-depth tips on cutting down on your admin hours, view the full breakdown on the Sage Advice blog.