Home > Uncategorized > SME survey. Some interesting stats

SME survey. Some interesting stats

And quotes…

The survey also showed the biggest cause of stress for SMEs is fighting for new business (31pc), closely followed by worries over finances (23pc), such as cash-flow issues, debtors and business planning.

One quarter of business owners and leaders admit that they don’t feel fully in control of their accounts and business finances with 45pc of respondents saying that they have had to defer payments of one kind or another due to cash-flow problems, including failing to pay their staff wages on http://www.telegraph.co.uk/finance/yourbusiness/10361901/UK-small-businesses-are-failing-to-invoice-for-billions.html (12pc).

I have recently been working with a very successful SME in a very difficult sector on these very issues. We have managed to largely turnaround what was a pretty dangerous scenario and with cash under control, the next stage is managing that for expansion. I believe that businesses can get caught between two stools with the owner perhaps looking a little too closely at the sales and their accountant not contributing perhaps the most street wise of advice

But this is  perhaps more surprising

<p>It found that 20pc of the SMEs surveyed have forgotten to invoice for goods or services at least once. Among these, around 12pc said that the job was worth between £5,000 and £10,000, while 6pc have forgotten to invoice for a job worth more than £10,000.

I suppose it does depend on how long the invoice was “forgotten” for but you can be sure that a lot of work and goods are never  charged for

link here

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