Wasp Barcode Technologies: The Barcode Solution People

Eight Surprising Stats About Small Businesses and Accounting


stats-about-smb-0415-banner If you’re like many small business owners, accounting and finance can prove to be a challenging part of running your business. That’s why to follow our 2015 State of Small Business Report, we surveyed small business leaders about their accounting needs and challenges. The results were sometimes as surprising as they were telling. Here are eight quick, sharable takeaways from our latest Wasp Barcode Small Business Report – Accounting:
1. 62% of small business leaders surveyed feel that there is nothing else their accountant could do to reduce taxes. http://bit.ly/1NOXoxI
Outsource accounting services2. 70% of small businesses outsource tax preparation. http://bit.ly/1NOXoxI
3. 88% of small businesses say they are either very satisfied or somewhat satisfied with their accounting services. http://bit.ly/1NOXoxI
4. Only 42% of small businesses have a CFO or controller. http://bit.ly/1NOXoxI
5. As many as 1/2 of all small businesses surveyed say they outsource payroll. http://bit.ly/1NOXoxI
6. Only 40% of small business owners feel they are extremely or very knowledgeable about accounting and finance http://bit.ly/1NOXoxI
Track Physical Assets7. Only 17% of companies have an asset management system in place to track physical assets. http://bit.ly/1NOXoxI
8. 47% of small business owners don’t understand how ghost assets impact their books. http://bit.ly/1NOXoxI
Looking for more information about the small business accounting landscape? Make sure to check out our full Small Business Accounting Report.