Small Businesses Spend Just 3.6 Hours A Month On Finance
UK small businesses are seriously underestimating the importance of financial management by spending just 3.6 hours on the matter each month – according to a report by KashFlow. The survey of small firms with less than ten employees revealed that while the process of managing money is a stressful one for a significant number of respondents – a strong majority remain confident in their ability to keep on top of things. Indeed, 87% of those surveyed described their bookkeeping as either ‘really good’ or ‘not bad’, with just 6% admitting they were “not good”. Despite their confidence however, 32% of small firms still suffer from the strain and pressure of financial compliance – a strong indicator businesses should allocate a lot more time to financial management. Oliver Shaw, CEO of KashFlow,... »