Running a small business successfully requires well-organised administration and management.  Business owners must be aware of reporting and record-keeping obligations and of the importance of keeping up to date.

Key areas of administration include but are not limited to:

• financial management – accounts payable, accounts receivable, preparing financial statements, budgeting and reporting
• general business compliance – insurance, OH&S practices, etc
• record keeping – filing, collecting information on business matters, maintaining statuatory documentation
• database management – customer, supplier, general knowledge
• human resources issues – supervising staff, payroll, annual/sick week approval, etc
• office equipment purchases and maintenance
• contacting and managing suppliers.

Administration tasks can distract a business owner and take up time that should be spent on core operations. It is important therefore to create systems, processes and procedures that cut unnecessary repetition and aid in efficiency. If too many hours are being spent on administration tasks ,consider outsourcing the work.

If administration becomes a challenge, get advice from your local Business Advisory Service or a professional consultant.