Stress is something that comes with everything we encounter in life. Owning and running a business is one of the things many people experience and stress out about and the financial aspect of running a place is something that can’t be taken lightly. Being financially literate is a major game changer. There are a few tips highlighted in this article in the hopes that it will help small business owners be better prepared for the financial risks of having a small business. Doing research, embracing new technologies for financial management, and looking for help from advisers, accountants and the like.
Key Takeaways:
- A study in Australia found that the average small business owner, in Australia, considers their business to be the source of more stress than their children.
- Technical solutions, like accounting software and digital invoice solutions, can take some of the stress off of small business owner’s shoulders.
- Devise methods of learning money management skills, including picking the brains of accountants and bookkeepers.
“When Kawaii Kids founder Andrea Harrison couldn’t get funding to grow her thriving kidswear business in regional Victoria, her stress levels shot through the roof.”
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