One major problem for small businesses

My experience in working with small businesses has taught me that there is one major problem faced by the owners of small businesses, the  lack of valid, complete and accurate financial and non-financial information to make sound business decisions.

 

They rely too much on independent bookkeepers for the collection, processing, reporting and analyzing of financial information. They put no or little value to the functions of bookkeeping and financial management and focus more on operational activities. This makes them lose sight with the financial performance of the entire business and only to realize late when they're in serious financial troubles that they have to take in control of their business's financial information systems.