How to Know if You Can Afford to Hire Someone?

Mar 17, 2025

How to know if you can afford to hire someone

Hiring your first (or next) employee is a BIG decision.

We get it. Business is booming, you’re stretched too thin, and you think you need help. But can you actually afford it? And if you can, should you be hiring an employee, or is outsourcing a better option?

Before making any hiring decision, you need to ask yourself:

1. Can I afford their salary and the additional costs (pensions, holiday pay, etc.)?
2. Will their role directly generate revenue or free me up to grow the business?
3. Am I financially stable enough to commit to paying them every month?

In this video, our Director, Helen Clements, breaks it all down and help you decide if now is the right time to bring someone into your business.

At Troy Accounting, we help businesses make informed hiring decisions, not emotional ones. If you need help assessing your numbers before taking the leap, we’re here to help.

Email us at: [email protected]
Call us on: 0330 134 0282
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