Should you hire a contractor or an employee? And when is the right time?
EPISODE 25
Notes
How do you know when you’re ready to take on paid employees?
Depending on your business situation, you will be considering either an employee or a contractor, or even a mix of both within your team. There are several decisions you’ll need to make when choosing which path to take but don’t worry I’m here to help!
In this episode, I’ll cover the important questions surrounding hiring a contractor or an employee and how to decide the right time to bring someone on board.
When I became overwhelmed with my workload and realised that I would never be able to take any leave, I knew I needed to branch out and seek help from a team. Most business owners will come to this same situation if their business is growing and don’t want to work 24/7!
I’ll run you through how to learn if you can afford employees in your business with a cash flow forecast, the cash outflow the new resource will cost your business (contractor vs employee), the questions you need to consider, superannuation and tax, and 6 important points to think about when deciding whether to employ a contractor or employee.
This episode is perfect for you if you’re choosing between hiring a contractor or an employee for your business. It’s jam-packed with everything you need to consider when making your decision and I encourage you to come back again and again when you’re ready to grow your team.
About the
Author
Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.
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