A small decision that changes everything
In the digital era of 2025, even the smallest decisions can bring big results for your business. In Albania, more than 80% of enterprises are small and medium-sized businesses. For their owners, one of the most important decisions is how their finances will be managed.
Although it may initially seem like an unnecessary expense, in reality, collaborating with an external financial expert can bring sustainable, long-term benefits. At AlProfit Consult, we offer the service of external economist for the complete management of your business's finances. This service could be your most sustainable, effective, and cost-efficient solution.
In this article, we will explain why this collaboration could be a strategic move for small and medium-sized businesses in Albania—saving you time, money, and energy.
The reality of small and medium-sized businesses in Albania
Small and medium-sized enterprises (SMEs) are the backbone of the Albanian economy. For them, the government has introduced certain tax incentives, such as an exemption from profit tax on up to 14 million lek annual revenue (until 2029) and VAT registration only if the 10 million lek threshold is exceeded.
However, challenges remain numerous. Lack of financing, unfair competition, and difficulties in accessing banking services make sustainable development difficult. Banks often consider SMEs to be high-risk entities, demanding unaffordable collateral and rejecting many loan applications.
In practice, these businesses face unstable cash flows, payment delays from clients, and difficulties meeting tax deadlines. Meanwhile, the emigration of young people has made it difficult to find qualified employees, adding pressure on owners who often bear the financial responsibility themselves.
In this context, professional financial management has become essential for any business seeking stability and growth.
What is an external economist and why is he becoming so sought-after?
An external economist is a specialized professional who works outside the company but is committed to the strategic management of its finances. He is often also called an external CFO (Chief Financial Officer).
This expert offers much more than a typical accountant: they draft budgets, prepare business plans, analyze the market, and provide strategic advice based on real data. Through this role, business leaders gain financial clarity, long-term planning, and informed decision-making.
Hiring an in-house economist is often costly for a mid-sized company. In contrast, collaborating with an external economist—through a professional firm like AlProfit Consult—offers flexibility, multifaceted expertise, and significant cost savings.
In this way, you benefit from a full team. financial experts, accountants and auditors, without needing to maintain an in-house department. Furthermore, every process is carried out using the most advanced technological tools, ensuring accuracy and full transparency.
Read also Tax Declarations: How to Save Time and Money with an External Economist.
5 key benefits of working with an external economist
Cost savings
Hiring an in-house economist entails high fixed monthly costs (salary, contributions, accounting software, office rent). In contrast, a contract with a consulting firm includes a full team of experts at predictable costs and much lower.
Access to a professional team
With an external consulting team, your business gains extensive knowledge across various fields — taxes, accounting, financial analysis, strategic planning. Every document is verified by licensed professionals, minimizing errors and ensuring maximum accuracy.
Flexibility and adaptability
You pay only for the services you need. During quieter periods, your costs go down, while in emergencies—such as tax inspections or audits—the external finance team mobilizes immediately to support you.
Strategic financial management
The external economist prepares financial plans, annual budgets, and monthly reports that give you a clear overview of the situation. This allows you to monitor cash flow and make data-driven decisions, not based on intuition.
Security and focus on business
With an external economist, you free yourself from routine financial tasks and focus on business development and customer care. This model provides security and continuity, as it does not depend on a single individual—every process is in professional hands and under full control.
Read also Is it better to hire a full-time economist or to collaborate with an external accounting firm?
Practical example: A business that found financial peace
A manufacturing company in Durrës, with 20 employees and a monthly turnover of around €100,000, was facing inaccuracies in its financial reporting and recurring tax penalties. After collaborating with AlProfit Consult, the company:
- Drafted the financial plan and the annual budget;
- It began structured monthly reporting.;
- Identify unnecessary operating expenses;
- Stabilized cash flow and reduced tax penalties.
Within six months, net profit increased significantly, and the executives gained clarity and confidence in financial management. Today, they are focused on business development, not on day-to-day accounting issues.
Signs that your business needs financial help
- Unstable cash flow If you have financial surprises every month, it indicates a lack of planning.
- Inaccurate or delayed reports – The lack of updated financial statements increases the risk of tax errors.
- Overloaded owner If you, as a leader, are spending more time on statements than on strategy, it's a sign that you lack the proper support.
- Overworked accountant If your accountant only handles routine tasks and doesn't offer analysis, your business needs professional intervention.
- Need for new financing – Banks require proper documentation and detailed financial forecasts. The external economist helps you prepare them accurately.
How to choose the right financial partner
Choose a team of professionals.
Ensure that the consulting firm has experts Certified and licensed auditors (ACCA, CPA, etc.). This ensures professionalism and reliability.
Request comprehensive services.
A serious partner must offer a complete package. services Financial – from drafting the business plan and budgeting to monthly reports and strategic consulting. AlProfit Consult offers precisely this model. All-inclusive.
Use of modern technology
Your financial partner should use advanced cloud-based accounting and analytics software that enables real-time reporting and full transparency.
Open communication and ongoing support
A good external economist is always available for questions, consultations, and analysis.
AlProfit offers the first consultation free of charge and continuous communication without delays.
Reference and reputation
Choose a partner with a proven reputation and satisfied clients. AlProfit Consult has earned the trust of over 200 Albanian businesses, demonstrating professionalism and efficiency.
Frequently Asked Questions (FAQ)
What is the difference between the external economist and the internal accountant?
The external economist provides strategic advice and in-depth financial analysis, while the internal accountant primarily handles routine tasks. An external economist, like AlProfit, gives you access to the expertise of an entire finance department at a much lower cost.
Does it make sense for a medium-sized business to collaborate with an external economist?
Yes. For most companies with dozens of employees, this model is more cost-effective and efficient than an in-house finance department. Furthermore, it offers broader expertise and greater flexibility.
What does the external economist's package usually include?
It includes: drafting the business plan, registrations, payments, issuing invoices, employee reporting, contract drafting, monthly reports, cash-flow management, assistance with banks, and periodic consultations. At AlProfit, these are standard components of monthly packages for every client.
How can I start collaborating with AlProfit Consult?
Just book one Free initial consultation to discuss your financial needs. After the meeting, AlProfit proposes a solution tailored to the size and specifics of your business.
Conclusion
In summary, collaborating with an external economist could be the most strategic decision you make this year. With the right professional support, even a small step can turn into sustainable growth and greater profits for your business.
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