Technology and your accountant could be the difference between success and failure
Want to succeed as a small business owner? Have a mentor or an accountant. Xero's recent Make or Break? report shows that asking for help from mentors and advisors, and having a good relationship with your accountant, means you have a leg up. The research was timed to coincide with Global Entrepreneurship Week which kicks-off today. Surveying 2,000 small business owners across the US and the UK, we found that those owners who collaborate with an accountant or bookkeeper, 42% of survivors describe that relationship as "excellent," compared to 27% of those whose company failed. This statistic shows just how important accountants are to the ongoing success of the small businesses they serve. Those who succeed also invest in technology for increased productivity in finance. It was also found that they dedicate funds to marketing and customer service. Nearly six in 10 survivors (58%) use software to manage their finances vs. a marginal 14% of failures. Plus just shy