ADMINISTRATIVE SOUNDNESS

With almost half of the world on lockdown, many business activities have slowed down. This is a great time to look into sorting out what most entrepreneurs dread… yep, Administration.
Whenever I engage with entrepreneurs, one of the things they always mention as the most tedious part of business is all the administration that comes with it.
Unfortunately, this is an unavoidable essential in your business, here are a few things you can et right during this time.

Manage your business compliance
You will be surprised at how many businesses are non-complaint in different areas of their operations. This is dangerous for any organization due to the legal implications and financial risks. Non-compliance may also cost you business opportunities.
So, take time to check your company registration documents, tax matters,
accreditations, professional memberships, and any other compliance-related topics that may need your attention. Ensure that all of these are up to date, once they are, file them safely where you will have easy access to them and set quarterly or annual reminders to keep them up to date.

SEE ALSO: AEC 2020

Create a virtual filing system
If you have to spend hours looking for critical business information, or not knowing where to start whenever an employee exits your organization, it is because you do not have an efficient filing system. Information is an expensive commodity and you must have access to your business’ information at your fingertips. Your team must know where to find information in order for them to work efficiently. A reliable and professional filing system allows you to achieve this. There are a number of
resources you can use online, such as google drive, or you can speak to your IT service provider to help you create a good filing system that will be suitable for your organization.

Outsource your administration
Administration requires time and skill, if you do not wish to spend your time refining this skill then you always have the option of outsourcing your administrative tasks to a professional. Virtual Assistance usually have the required systems in place and are flexible enough to integrate into your organization as a vital support, enabling you and your team to focus on your main tasks of growing the business.

There is no getting around administration, someone has to do it. The more efficiently it is done, the more effective the business will be.

Princess Mashamahite
Executive Director: TAELO Executive Virtual Assistance

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