Whatever the macroeconomic analysts are saying this month, the Association of International Accountants (AIA) found from a survey of its members that life is still tough for small businesses.
Just 13% of respondents to the association’s SME Snapshot survey reported that they thought the economy would improve in the next 12 months, with the remainder split between those who thought it would remain static and those who thought it would get even worse.
“The biggest challenge is cashflow. It’s what makes a company successful, or what makes it fail,” said AIA CEO Philip Turnbull as he presented the survey results at the recent AIA founder’s lecture in London.
With cashflow cited by 63% of AIA respondents as the most pressing issinue, 27% highlighted w...