Useful Digital Tools for Small Businesses and Sole Traders

 In Small Business Accounting, Startup Accounting, Tax

When it comes to improving your business strategy, maximising your ROI and making informed and educated decisions about the runnings of your company, there are a number of online tools and apps out there that will give you indispensable knowledge and will take very little time or effort. These tools are arguably essential for every small business.



According to The Content Factory, social media marketing has a higher 100% higher lead-to-close rate than any other form of outbound marketing. From generating business to building an online presence and communicating with customers in real time, social media is crucial for any business. Just think about it: 84% of B2B marketers use some form of social media, and you should be targeting them. This is where Hootsuite comes in. This free social media scheduling tool lets you keep on top of all of your social media platforms (Twitter, Facebook and Linkedin) all in one place. This means you can sit down and schedule social media posts in advance, and not have to worry about it later on.


Alongside this, you can use Hootsuite to organise Twitter feeds and stay on top of industry specific news organised into different feeds (similar to RSS feeds). You can create individual streams with specific sets of information, and so much more. You could have a stream for brand mentions, a stream for replies to your tweets and one with chatter surrounding your services and mentions of your products. What makes this tool even better is that it is free (up until a point anyway!)



Many businesses, whether they’re big or small, rely on business meetings, appointments and company socials, which take an element of organisation and time management that many professionals simply don’t have the time for. From setting up a meeting with your chartered accountant in London so that you can go through the books, or finding out the dietary requirements of those attending an event that you’ve got planned, it takes time, long email threads and a lot of chasing. Let us introduce you to Doodle – one of the best tools that simplify the process of planning events, meetings and so much more. This free tool allows you to set up a variety of times and invite participants to choose a time that works for them. They can also choose locations, specify their dietary requirements and so on. Don’t worry – it’s so easy to set up, and those you’ve invited don’t need an account or app.


If this still hasn’t convinced you, you can integrate Doodle with your calendar, and the app is available for iPhone and Android. The business accounts are of great value –  £29 a year for sole traders and professionals, or £49 a year for businesses.



Like businesses, it’s crucial self-employed people to report their financial data to HMRC for tax reasons. Dealing with the government takes time and can be incredibly complicated as there are so many levels many complex jargon terms used. When you choose to hire an accountant, you will need an accountant and accounting software that understands how you work.


We recommend FreeAgent. This innovative online accounting and financial management tool, is perfect for certain Sole traders. Specifically, we highly recommend this software for contractors and freelancers as it has has the ability to learn and understand the way these roles work within their respective industries. From creating projects, to rebilling expenses, storing timesheets, and having a record of mileage, there is so much you can do with FreeAgent. It’ also available on desktop and on app stores, making it perfect for shared workspaces.


When you choose FreeAgent accounting software with 3 Wise Bears, you will have the support from a qualified Chartered Accountant – our Premium package also offers a Bookkeeping service.



This tool is ideal for Small Businesses who need support from an accountant or some form of accounting software. Xero is a piece of software for great for growing a business and forecast what is around the corner.  When you have a system that tracks your company’s assets, liabilities, and income, you can then make informed and educated decisions based on past performance and the present financial health of your company.


Xero is one of the world’s easiest accounting software tools to use, that’s another reason we continually recommend it for small businesses. You can manage bill payments and send invoices automatically, making it easier to manage your cash flow, and everything you need to monitor and grow your business is all under one holistic tool. You can also log in to Xero on any device; keeping on top of your business’ finances has never been easier.


When you choose Xero accounting software with 3 Wise Bears, you will have the support of a qualified Chartered Accountant along the way. To find out more, contact us today.

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