Running a business will require your investment in all sorts of processes. Whether that’s to do with developing products, building a brand, surveying the market or anything else. Now, when you have a small business, it can feel impossible to bring enough staff on board to complete all of the tasks you require. This is where outsourcing can come into play. Here’s some more information on the subject!

What is outsourcing?

Let’s start out by discussing what outsourcing actually is. Put simply, outsourcing is a commonly used business practice that hands services or job functions out to a third party for completion. This third party might be a freelancer, an agency or a different company.

Common Processes to Outsource

Pretty much anything can be outsourced, but some of the most common tasks tend to include:

• Web design
• Web development
• Copywriting
• Graphic design
• Accounting and year end accounting
• Commercial property management
• IT
• Admin
• Customer service

The Benefits

Of course, for so many businesses to engage with outsourcing, there must be some significant benefits. This is true. Of course, the benefits of outsourcing will depend entirely on your business, its model and the tasks being outsourced, but some of the main perks tend to include:

• reduced costs (as you don’t provide equipment or employee benefits)
• efficiency
• variable capacity (for jobs that you don’t need completed consistently)
• access to skills
• access to resources or specialist equipment
• increased flexibility with demand and production

The Risks

With benefits often come risks. There are, of course, risks to outsourcing. When you use a team of outsourced workers, you may find that they no longer have capacity for your work. They may have been offered better rates or more consistent work from another client and prioritise their workload instead. You may also find that you are not the workers’ main focus. They may have to split their time and attention between multiple projects, meaning you are not their priority and rather another box to be ticked off a list of tasks to complete. Sometimes, you may use freelancers or companies in different time zones, which can also lead to communication difficulties.

Is Outsourcing Right for Your Business?

Outsourcing may or may not be suitable for your business. The best way to determine whether it’s an area you should look into is to ask a professional business adviser their advice, or to sit down, figure out why you’re considering outsourcing and weigh up the pros and cons yourself. Consider factors such as cost, efficiency and quality. This should all help you to come to a conclusion determining whether this is a process you should go ahead with, or whether you may need to employ part or full time staff to complete the job instead.

As you can see, outsourcing could hold a whole lot of potential for your business, or it may prove better for you to become an employer. Hopefully, some of the information provided above will help you to come to the right conclusion for your individual needs and preferences.