{"id":111969,"date":"2023-05-30t11:56:19","date_gmt":"2023-05-30t15:56:19","guid":{"rendered":"\/\/www.g005e.com\/?p=111969"},"modified":"2024-08-27t17:02:17","modified_gmt":"2024-08-27t21:02:17","slug":"cpas-warn-small-businesses-to-beware","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/05\/30\/cpas-warn-small-businesses-to-beware\/","title":{"rendered":"cpas warn small businesses to beware"},"content":{"rendered":"

\"\"<\/a>bonus: how do you rate your firm? how does that compare?<\/strong><\/p>\n

by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n

cpas are getting increasingly worried about the economy and its impact on small businesses, according to the 卡塔尔世界杯常规比赛时间 busy season barometer.<\/p>\n

more: <\/b>clientele and revenues rising, but \u2026<\/a> | have no fear, april is here<\/a> | survey: busy season looking good<\/a> | on business outlook, cpas are confident \u2026 and concerned<\/a> | tax pros offer advice for small businesses<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

even though inflation\u2019s lessened substantially, supply chains are getting back in order and just about everybody who wants a job has a job, respondents to the survey are more pessimistic in the warm sunshine than in the dark days of late winter.
\n
\nrevenues declining?<\/strong><\/p>\n

back in early february, 31 percent of respondents saw small business revenues declining over the next 12-18 months, with only 2 percent thinking conditions could get \u201cmuch worse.\u201d<\/p>\n

they changed their tunes to just under 50 percent saying revenues will head south, with 9 percent predicting \u201cmuch worse\u201d conditions over the next 12-18 months. only 21 percent see conditions improving, with just half of 1 percent hopeful of \u201cmuch better\u201d conditions.<\/p>\n

the odds of increasing profits are just about as bad, with 44 percent seeing a downturn and only 20 percent thinking profits could rise.<\/p>\n

payroll culprit<\/strong><\/p>\n

payroll costs could be a main culprit behind the difficulties with profit. fifty-five percent tell us it will become more difficult to manage payroll costs while only 8 percent think it might be easier.<\/p>\n

for much the same reason, 48 percent of responding cpas don\u2019t see much new hiring, though 17 percent have some hopes in that area.<\/p>\n

similarly, 38 percent fear it will be somewhat harder to access fresh capital, and 10 percent predict it will be much harder, though 46 percent don\u2019t expect much change.<\/p>\n

supply chain issues, so prevalent during the covid-19 years, aren\u2019t seen as such a serious problem. thirty percent figure it might get worse for small businesses, but 43 percent don\u2019t see any change, and 27 percent see improvement coming along.<\/p>\n

the adoption of new technology could be the only area where accountants are close to optimistic. only 18 percent say it will be more difficult to upgrade, while 30 percent see small businesses using new tech to solve some of their problems.<\/p>\n

advice for small business<\/strong><\/p>\n

james chakires, apex cpas managing partner, offers a lot of good advice for small businesses, much of it focusing on personnel.<\/p>\n

\u201chire slow and eliminate non-performing employees,\u201d chakires recommends. \u201cbusinesses are having a difficult time retaining people.\u00a0 most turnover is from those with companies a year or less. there is way too much job hopping going on. business cannot get off low end of learning curve with screening, onboarding, training then employee leaves. i have never seen it to this extent before. we have to improve our successful hires. redesigning the screening process to attract those who have a strong work ethic and will stay is priority number 1.\u201d<\/p>\n

somebody at beyon business network has similar advice, suggesting, \u201chave competent team: staff, accountant, marketing and other professionals that go the extra mile.\u201d<\/p>\n

james cordova, managing partner at windes in the los angeles area, doesn\u2019t foresee much change in the small business environment, but he warns of a tech threat.<\/p>\n

\u201ccontinue to innovate and keep your technology stack current,\u201d cordova says. \u201call small businesses should be budgeting for cyber threat protection. small businesses cannot afford to have their data stolen or ransomed, which can have a devastating impact on their bottom line or going concern.\u201d<\/p>\n

a lot of the other recommendations have to do with traditional preparation for recession:<\/p>\n