The Resource Hub

Insights to help business leaders understand money, simplify decisions and build a business of value.

Accounting Challenges Entrepreneurs Face and the Strategies to Fix Them

At CleverProfits, we’ve seen firsthand the unique accounting challenges entrepreneurs face in managing the financial aspects of their businesses. It can’t be emphasized enough how essential it is for your business to follow accounting’s best practices. In fact, one study by U.S. Bank shows that 82% of small businesses fail because of cash flow mismanagement. Here, we reveal the top 10 accounting hurdles entrepreneurs have commonly encountered with effective strategies to overcome them, ensuring the success and growth of your venture. 1. Maintaining Accurate Financial Records The Challenge: Accurate and up-to-date financial records are the backbone of your business, providing

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