The common financial problems faced by many Small and Medium-size Enterprises (SMEs) today can be attributed to their focus on only what is required of them ‘by the book’ – i.e.; book-keeping, accounting, reporting, churning up and filling the necessary numbers. In so doing, many SMEs forget the all-important role to plan ahead, forecast and establish preventive measures.
Invariably, many SMEs fall into the all too common error of giving priority to sales related expenses, where equal, if not increased emphasis ought to be given to other key areas in the likes of human resources development, IT infrastructure and operational processes.
LET’S DO A BUSINESS HEALTH CHECK
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