5 Major Issues that Small Businesses Face and How to Fix Them

1. 5 Major Issues that Small Businesses Face and How to Fix Them Summary:Fact: Only 50% of small and medium-sized businesses survive the first 5 years. The key to avoiding a financial crisis is asking the right questions, and knowing what steps to take to solve the problem. Fact: Only 50% of small and medium-sized businesses survive the first 5 years. Unexpected issues arise for business owners countless times that can cause major challenges, including financial. The key to avoiding a financial crisis is asking the right questions, and knowing what steps to take to solve the problem. A software like QuickBooks helps you to manage all incomings and outgoings of finances. When hosted on the cloud, QuickBooks on a server gives you the ultimate experience and helps you keep track of all accounts, payments, credits, and more. Here are some of the major financial issues small businesses face: 1.Poor Cash Flow Management The flow of revenue coming in and going out must be tracked carefully from Day 1. A proper process should be defined for the creation of reports, billing, and collections to improve cash flow. A lot of problems can be solved by optimizing pricing and profit. The best way is to utilize technology and automation to keep track using software like QuickBooks hosted on cloud. 2. Employee Hiring and Retention With small businesses, many times the cost of training and building an expert team can cause financial drain. It is important to understand that your business is built upon your employees or those who work towards the same organizational goals. The main goal is, to keep your employees satisfied with what they have in your company. 3. Reporting Inaccuracy Accounting and finances are the core of your business. An effective process needs to be established where data is concerned. Having real-time reporting through a reliable software will greatly help to gain valuable insight and making a decision without worrying about the inaccuracy of numbers. 4. Fix Financial Issues If you do not have an action plan, you will be stuck in an endless cycle of fighting the consequences without actually addressing the root cause. Do not get stuck in a never- ending cycle of financial risks. Take a step back, map out the problem and fix the base even if it takes time, rest will follow.

2. By implementing best practices and using a world-class software for cash flow management, you will notice significant improvements get visibility into what drives profits from automated job costing. Turn your accounting from an Achilles Heal to a competitive advantage by getting QuickBooks- based systems for your business. About us SageNext Infotech is an Intuit’s trusted premier reseller and authorized commercial host that frequently deals in QuickBooks applications to provide hosting services to CPAs, bookkeepers, and businesses. We visions to host all the QuickBooks accounting software on the most reliable SSD servers which enriches the business productivity. Want To Contact Us?? To thrive more about the QuickBooks Hosting services offered by leading commercial host i.e., SageNext, use Please visit us at: www.thesagenext.com following mediums: Dial our toll-free support number: +1-855-922-7243