Finance horror stories — cover
Caution: keep on reading at your own peril

The Terrifying Tales of Small Businesses. Part 3 — The finale.

It’s time for the grande finale of our exclusive Halloween series. So, light the candles and take the time to read these truly terrifying tales of things that could go wrong with your small business — before it’s too late.

Part Three: The Recurring Nightmares of Small Business Owners

Of course, we saved the most horrifying story until last, here we have five mini tales of terror.

1: Sinking Ghost-ship: Failing to stay afloat

Having a cash-flow crisis is high on the list of problems encountered by small business owners. Independent Growth Finance’s (IGF) Small Business Survey 2020 revealed that over one-third of small businesses had cash-flow problems in the two years before the survey. Worse still, 43 per cent reported having to use their own personal assets as a guarantee for their business or to solve cash-flow issues.

2: The NetherRealm: You’re not living in reality

  • Progress benchmarks
  • A breakdown of the finance you need, and essential outgoings such as small business insurance
  • Potential risks to your business
  • What you need to operate
  • A sales forecast and figures marking out profit and loss
  • A consideration of your competitors
  • Your marketing objectives and strategy.

3: Stuck in Limbo: All your eggs are in one basket

4: Ghost: No one knows who you are

5: Doppelgänger: Becoming a statistic

According to the House of Commons, UK businesses are currently failing at the same percentage rate as they’re starting up. While in real figures, the number of businesses that make it is slightly higher than those that don’t, however, that has only been the case for the last three years.

Light at The End of The Tunnel: Using an All-In-One Finance Management Tool

Try using a free cash flow management tool such as Airbank. Airbank is a unified financial management solution that marries your bank statements to generate your cash flow statements automatically. That way you don’t have to go through the messy process of waiting for your accounting statements, or transferring and categorising all your transactions yourself.

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