If you don’t know much about the numbers behind your business, you’re not alone. According to Wasp Barcode Technologies’ Small Business Report–Accounting, only 40% of small business owners surveyed said that they feel “extremely” or “very” knowledgeable about accounting. However, this lack of accounting knowledge could put you at a severe disadvantage.
Running a business without a proper accounting background feels like driving a car while blindfolded–you won’t know where you’re going. Accounting provides you with the answers to several key questions, including the following:
Therefore, whether you run a tech startup or a cannabis dispensary, for instance, you’re going to need an accountant.