Having a great idea and running with it is not enough to operate a successful business. A business owner must wear many hats when operating their company, but managing and understanding their finances doesn’t always come easily.
Relying on a business manager or an accountant is a beneficial way to verify that you are conducting your finances by the book, but many small business owners do not have the budgets to afford these specialists. In fact, “40 percent of small business owners say they are financially illiterate – yet 81 percent handle their business’ finances themselves,” according to an Intuit study as reported by one source.
