Clearlybusiness study highlights poor financial management in SMEs

摘要

Research carried out on behalf of clearlybusiness, an organisation providing financial advice and services to small business, has demonstrated how poor financial management practices in the engineering and construction sector are holding back SMEs' growth and survival prospects.The report shows that 86 percent of small business in the engineering and construction sector have experienced significant financial problems during the past 12 months due to lack of basic financial know-how. As an example, 24 percent never monitor their budgets against their actuals, and 28 percent are setting prices on products and services without full knowledge of what the costs are in producing them. Other facts in the report include - only 13 percent of business owners have any formal business qualifications and only 53 percent employ any form of specialist bookkeeping software to help with the management of their finances.