Why small business fail?
According to University of SA recent study on 20 November 2019 small Business fail for the following reason.
- Poor Management with little or no planning
- Little understanding of the financial health of the business
- Not fully understanding of the financial effect of external factors. For example Covid-19
- Inappropriate structure or problems with family members
- Lack of knowledge of marketing
These lead to cash flow issues and ultimate failure.
https://www.unisa.edu.au/Media-Centre/Releases/2018/new-study-reveals-why-australian-smes-fail/
Business Optimisation Program
To help small business overcome these issues Optimal Bookkeeping has developed a Business Optimisation Program. That Includes
- Continuous Improvement Plan and Process
- Profit Budget
- Cashflow Optimisation
- Industry Benchmarking
- Accurate Xero reports. So you know your current financial position.
- Utilising time saving features of Xero. Reports are accurate and produced efficiently
Want more information given me a call on
0407 439 063.
Cheers Tony Heywood (CPA)
