- UK SMBs are concerned about rising costs, survey finds
- Cash flow challenges and global economic issues are also a matter of concern
- More insight and control can be important, intuit Quickbooks says
Small businesses are rapidly worried that rising costs will cause unwanted pressure as they are growing and rich.
The new research of the accounting software veteran Intute Quickbook has more than half (57%) of UK SMB claims that the rising costs are predicting in the coming months.
Of these, about two-thirds (64%) said that they are concerned about that these growth will be on their business, with about half (47%) cash flow reports reported.
SMB worries
The latest quarterly short business of Intuit Quickbooks exposes several challenges in front of the SMB in front of the increasing financial and commercial pressure contained in the Insights Survey.
Just half (42%) stated that they are sources from abroad, meaning that they are in contact with global cost pressures, and more than half (51%) say that poor financial or resource management is holding back its business.
To help deal with pressures, Intuit Quickbooks probably recommends immediate adoption of clever financial management processes. Conclusions highlight the need for better financial planning, and financial guidance to help businesses navigate the ongoing headwinds.
“SMB may not be able to control global markets, but they can control their finance and be better prepared for changes,” said Polyne Green, the head of international compliance in intuis.
“In front of rising costs, supply chain pressure, and economic uncertainty, strong financial planning procedures play an important role in helping businesses stay on the front leg.”
