{"id":119052,"date":"2023-11-06t11:58:13","date_gmt":"2023-11-06t16:58:13","guid":{"rendered":"\/\/www.g005e.com\/?p=119052"},"modified":"2024-08-27t17:00:44","modified_gmt":"2024-08-27t21:00:44","slug":"accountants-to-the-rescue-as-startups-struggle","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/11\/06\/accountants-to-the-rescue-as-startups-struggle\/","title":{"rendered":"accountants to the rescue as startups struggle"},"content":{"rendered":"
<\/p>\n three ways that you can help.<\/strong><\/p>\n by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n small businesses rarely make the headlines, but as a whole they represent a huge portion of the american economy. more than 98 percent of all american businesses have fewer than 100 employees, and 77 percent have between one and 10. together they account for 36 percent of the national workforce.<\/p>\n more: <\/b>talent gap widening: be very scared<\/a> | accountants hopeful, concerned and confused about ai<\/a> | looking for recent grads? good luck<\/a> | cpa biz is booming, but for how long?<\/a> | survey respondents see exciting year coming up<\/a> | survey: accountants economic outlook brightens<\/a> | research: accounting pros cautiously optimistic about generative ai<\/a> americans, generally an independent bunch, are known for cranking up new businesses. one in 10 small businesses is less than one year old. the attrition rate is high, of course, but 45 percent have held on for one to 10 years, and they account for 34 percent of small business jobs. small business index report<\/strong><\/p>\n new business applications began to soar during the pandemic, and they remain high. the past two years have seen some 5 million applications per year.<\/p>\n meanwhile, the share of businesses that have no employees \u2013 that is, individuals operating solo \u2013 has been soaring. they made up 76 percent of all businesses in 1997. today, they account for 84 percent.<\/p>\n the intuit quickbooks small business index annual report 2023, from which all these numbers have been taken, attributes the growth of single-person businesses to three factors:<\/p>\n opportunity for cpa firms<\/strong><\/p>\n all these small companies can be a boon to cpa firms. they need not only accounting and bookkeeping services but advice as well. many of those that fail to survive for more than a few years may have fared better if someone with more experience had been available to guide them.<\/p>\n and it\u2019s the ones that survive that tend to grow, as evidenced by the higher job numbers for companies more than 10 years old.<\/p>\n in other words, the accounting firm that gets a new, small client over the hump to growth and longevity will end up with a bigger, more profitable client.<\/p>\n <\/p>\n the struggle<\/strong><\/p>\n intuit spotted one serious warning sign of trouble at small businesses. their credit card debt is 20 percent higher than it was before the pandemic. repayments on credit card balances are 29 percent higher.<\/p>\n that\u2019s bad debt to have. it indicates cash flow and financing problems, and it rarely leads to anything good.<\/p>\n the quickbooks blog has identified three crucial ways that accounting professionals can help small businesses succeed:<\/p>\n many cpa practices are reluctant to take on small business clients. but it\u2019s these newbies who most need a variety of accounting and counseling services, and they are also the clients who can rapidly grow if they have a good cpa firm behind them.<\/p>\n","protected":false},"excerpt":{"rendered":"<\/strong><\/p>\n
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\nabout the same number are more than 10 years old, and their longevity has generally led to growth. today these older companies account for 62 percent of small business jobs.<\/p>\n\n
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