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Financial management critical for small business: Survey

Economic Times | May 27, 2015

Some 85 per cent small business owners start off by utilising only personal savings, affecting the way decisions are made as well as how entities are run, says a latest survey.

According to a report prepared for financial management solutions provider Intuit India by research firm International Data Corporation, nearly all small businesses believe that they could have been more successful with better financial management from the beginning.

“About 85 per cent said started their business by utilising personal savings, making financial management even trickier. This affects the way decisions are made as well as how businesses are run,” read the report titled ‘Financial Management – An Essential Tool for a Healthy Business’.

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