Most people who go into small business have a skill or expertise and technical skills. Carpenters, plumbers, mechanics are classic examples and you’ll find dozens of these business owners in your local suburb. One of our own MYOB and Xero Course support team members, Amelia runs the books for her family business as well as operates an online business providing bookkeeping support and tutoring.
Most of these business owners don’t like office admin and they don’t like the accounting and bookkeeping tasks that you have to do to be a business owner.
It’s also one of the reasons a lot of small businesses fail – they don’t focus on or understand the financial side of their business and need some help.
Xero came along and had huge success because their software was easy to use on a computer using an Internet browser from anywhere as well as on a mobile device and tablet. They took a lot of market share away from MYOB but still most jobs for bookkeepers and business administration require either MYOB or Xero.
Technology doesn’t stand still and there is a new range of competitors who are solving the known weak links in Office Admin and Business Admin.
These companies are targeting receipt scanning, bank feed data and bank reconciliation. They link in directly with a small business banking account or credit card payment and even tax accounts. The newest one we’ve noticed recently is NAB via their investment in Thriday and it’s called NAB Bookkeeper.
Thriday and HNRY appear to be the major players competing against MYOB and Xero in this bookkeeping space with the aim of taking away much of the data entry and daily transactions tasks which are normally performed by a bookkeeper!
NAB bookkeeper has started advertising and offers a six-month free trial and only $19.95 per month thereafter. NAB Bookkeeper gives you a business bank account and automated bank reconciliation and even tax reporting.
Bookkeeping is a small part of running a small business and the startup academy cloud covers the other important aspects such as advertising and promotion finding ideal clients marketing and customer service.
Keep abreast of the new technology that is changing the way we all work by enrolling into one of our technology courses – some even come with an internship where you get to practice what you learn in the real world.