- The United Kingdom SMEs are worried about increasing costs, the survey finds
- The challenges of cash flow and global economic problems are also a concern
- Having more information and control can be key, says Intuit Quickbooks
Small businesses are increasingly concerned that the increase in costs leads to unpleasant pressure as they seek to grow and prosper.
The new research giant Giant intuit quickbooks states that more than half (57%) of the United Kingdom SMEs predict the growing costs in the coming months.
Of these, almost two thirds (64%) said they are concerned about the effect that these increases will have on their business, with almost half (47%) informing cash flow challenges.
SMB concerns
The data, contained in the latest quarterly survey of Small Business Intuit Quickbooks, seek to highlight a series of challenges that face SMB against the growing financial and commercial pressure.
Little less than half (42%) said they get the foreigner, which means that they are more exposed to global cost pressures, and just over half (51%) say that bad financial or resources management is stopping their business.
To help deal with the pressures, Intuit Quickbooks may recommend, as expected, the urgent adoption of smarter financial management processes. The findings highlight a marked need for better financial planning and financial orientation to help companies navigate winds against.
“SMEs may not be able to control global markets, but they can control their finances and be better prepared for changes,” said Pauline Green, director of International Compliance at Intuit.
“Given the growing costs, the pressures of the supply chain and economic uncertainty, solid financial planning procedures play a vital role in helping companies stay in front.”
