Failure to take account could ruin a small business
“Those who think of themselves as entrepreneurs need to confront two of the greatest reasons for small business failure. The first is their tightwad ways; the second, that their accountants too often are hopeless at business.” Read on
Peter Switzer The Australian
IN the aftermath of the May budget, those who think of themselves as entrepreneurs need to confront two of the greatest reasons for small business failure. The first is their tightwad ways; the second, that their accountants too often are hopeless at business.
Now before all of my accountant buddies head to their emails, read me out. I believe a great accountant is crucial to business success, but if small business failure rates are so high, you have to ask: where are the accountants when this happens?
The answer could be that many small business owners have done their own tax returns to save money and lost their business, their house, their family and a whole lot more.
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Published 06 July 2009.
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