Tuesday, March 8, 2011

A Report on the Performance of Small Businesses

Everywhere in the world, there is a feel of the financial crisis. May it be a small or big enterprise; there is always the effect of the financial crisis. This is why many businessmen and businessman-aspirants are thinking twice about starting up a business today. But recently, Intuit completed a survey with Intuit customers. This group consisted of accounting professionals and small business owners. The results reflect what these people have to say about the current status of businesses.

For one, 65% of accounting professionals and 54% of small business owners believe that their businesses grew in the last 12 months. However, 75% and 80%, respectively, say that the economic status is only “fair” and “poor”. Though this is the case, 94% of accounting professionals and 87% of small business owners feel much optimism that their businesses will grow in today’s economy.

It is also interesting to note that 38% of accounting professionals are already using the online accounting software. On the other hand, only 29% of small business owners are using the said application. The online accounting software enables an accountant or businessman to go elsewhere but remain connected to his business via the internet. Although only 38% of accounting professionals are availing the online accounting software, a great 74% believe that this is a very effective tool for business management.

Another finding states that 60% use email and 54% use the telephone to talk with their accounting professionals on a regular basis. This means that monitoring of one’s business is already possible even when you are in a remote area.

These figures are very important bases for anyone who is into business. There is actually a hope for businessman-aspirants because there are a number of ways for one to play his cards. And the birth of the new online accounting application is surely a huge leap in the business sector. Hopefully, people will see its relevance in the few weeks to come.

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