Businesses Kiss Goodbye £8.72bn Managing Expenses
UK small businesses kiss goodbye £8.72bn every year by just managing expenses, it’s been revealed on Valentine’s Day. A survey of 1,200 small firms, conducted by Soldo and YouGov, has revealed that employees who work for smaller enterprises spend just over four hours a week completing financial admin, including invoicing, accounting, expenses, budgeting and forecasting. While money can’t buy you love, the resources in real cash terms needed to complete the management of expenses actually equals billions of pounds. When respondents were asked to identify particular struggles, day to day cash flow management was signaled by 15% as being a significant problem – with the smaller the business, the more likely they’d struggle. Just last week, it was revealed that 35% of small firms waste t... »
