Wondering how much you should be spending on contractors, employees, freelancers, personal assistants and/or team members?
If you’re a new or recent start-up business knowing when you can start employing someone could be a make or break situation.
So getting it right, first time is super important!
Regardless of your company structure, we recommend 18-20% of your sales revenue excluding VAT and sales tax can be dedicated to team members.
We’ve found this to be the sweet spot for the thousands of businesses we work with; it ensures your business stays financially healthy without stifling the growth of your business.
This is my rule of thumb, that really works! #MoneyMaker
Thanks ever so much for taking the time to read my post I truly hope you’ve found it useful and insightful. If you have any questions feel free to contact us!
I am Annette Ferguson, CEO of Annette & Co. Chartered Accountant, Profit First Professional and creator of the Business Wealth Engine. We’re also SUPER social so don’t forget to follow. Here’s to your success!
Reinvesting money in your business is not a bad thing if it is done consciously. Now, what do I mean when I say that it’s