With the UK on the brink of a recession, many companies are looking at their business model, wondering how they can simultaneously lower costs and innovate in a bid to stay ahead of the curve.

One key facet of this is outsourcing. If you’re wondering whether outsourcing is for you, read on.

Why are businesses outsourcing? 

One of the main reasons why many businesses are turning to outsourcing is due to expertise. Every business has its area of expertise. If they require something that falls outside of that, outsourcing is an excellent option.

Although businesses can hire people in-house to fill skills gaps, outsourcing often yields much better results. Not only does outsourcing mean you have bona fide experts at your beck and call – it often works out cheaper too.

For example, rather than hiring a whole department to fill a skills gap, you can outsource for a fraction of the price.

What are some of the most popular areas to outsource?

Outsourcing has always been popular in areas such as IT, legal and payroll.

However, due to most businesses now needing an online presence to stay relevant, SEO has become an increasingly popular area in which to outsource. Nowadays, it’s widely accepted that businesses should be outsourcing their SEO if they want to boost their online visibility.

When should a business outsource?

If you’re wondering whether outsourcing is right for you, here are some of the telltale signs you might want to subcontract.

• You need to innovate – If you’ve been struggling to come up with new products and services, it might be time to outsource. If you either don’t have the expertise or time to innovate, it’s important to outsource this part of your business so you don’t stagnate.
• You’re overstretched – Is a decent work/life balance a thing of the past? If so, you might want to consider outsourcing. Rather than overloading your current employees with work, outsourcing can take some of the strain off you and your teams.
• You don’t have the skills – If you need a skill that your existing team doesn’t possess, outsourcing means you can bring the experts in, without the headache.
• You want to scale up – If you scale up too fast, there might become a point where you’re unable to meet the demands of your customers. If this is the case, you might wish to consider outsourcing.

Final thoughts… 

As a business owner, it can be daunting to bring on contractors to help you run your business. Yet the most successful businesses use outsourcing to their advantage. If you haven’t already considered outsourcing, what’s stopping you?