Third of Small Businesses Rely on the Internet for Financial Advice
Small businesses risk coming into financial problems with 30% having admitted to using unregulated information on Google and social media for essential financial advice, according to a new survey by IGF Invoice Finance. The report found that only 4% of small business owners currently use an accountant or other trained expert for financial advice and, while the internet can offer a range of useful business information – the report warned that small business owners need to ensure they are “obtaining sound advice from trusted, reliable sources.” The findings are subsequent to a report by Direct Line for Business which found that poor consultancy resulted in a £6.4bn loss for micro and small firms – affecting an estimated 320,000 enterprises. Managing director of IGF Invoice Finance, Tra... »
