Armalytix Press – Financial IT Open Banking can help small businesses improve financial planning
According to the House of Commons Library, of the 5.98 million businesses in the UK, less than 100,000 have more than 250 employees. If you are working in Britain, chances are it is for a small business.
Businesses of less than 10 people are unlikely to have a full-time employee responsible for finance. Typically, it falls on an overworked CEO or Managing Director to manage cashflow, payroll and timely payment of suppliers – in addition to maintaining and growing a business. Most rely on the advice of third-party accountants and financial advisors to make the right business decisions.