The leap from sole-trader to small business: Hiring your first employee
According to the Australian Bureau of Statistics, 61% of businesses have zero employees. As a recruitment specialist, I’ve seen many sole traders who have done a brilliant job growing their businesses in their first year or two, before becoming overburdened with stretching deadlines, backlogs and customer waiting lists.
These are all signs it’s time to recruit, doing yourself — and your business — a huge favour.
Both sales and profits increase in the immediate aftermath of a sole traders first hire. This is proven overwhelmingly true across global research. The quick win is stress relief, and from there, the benefits are measurable across sales.