Wrong ideas are dangerous, especially if you have a business, regardless of its size. You run the risk of ignoring significant opportunities, and you could waste money on strategies that don’t work. Most of all, you could incur losses.
Here are three business-related myths in the UK and why it is time to dispel them all
1. You can skip an accountant when preparing tax returns
Paying for accountants or tax advisers can be an extra expense, but you’re more likely to find hiring financial services in Penge beneficial to you than doing things by yourself. These professionals help you understand tax laws and maximise your deductions and exemptions.
You can depend on them if you want to dispute a tax decision and appeal on your behalf if you are late with your returns.
2. You don’t need IT security
IT security is essential for all businesses to protect their online data. In the UK, more than 68 percent of businesses suffer from a form of cybercrime such as a data breach. These attacks now cost the country and the industry around £30 billion of losses.
Today you can find teams that offer more reliable security plans, and they are available as software-as-service programs. This way, you don’t have to pay for additional downloads or use the same technology for years. You only pay when you use the service.
3. Only businesses that have an online presence succeed
There’s no doubt that bringing your business to the Web is an excellent decision. You reach a wider audience, and you can market to as many people as you like.
But it doesn’t mean that offline marketing strategies don’t work. In fact, by 2020, more than 48 million will still choose to promote their goods and services via SMS. Businesses can still gain a foothold when they follow traditional marketing, as 10 percent of people in the UK do not use the Internet.
The most successful businesses are those that are sincere and honest. Only then can they understand that marketing is only as good as your product and delivery. Dispel these myths, and you can make your business a financial success.