Small businesses spend an excessive amount of time each year on accounting and taxes, according to a recent article by Accounting Today. The small business mentoring organization, SCORE, compiled the key statistics, which include:
– 40% of small business owners said the worst part of owning a business is accounting and taxes.
– 40% of business owners spend at least 80 hours a year on accounting.
– 31% of small business owners spend a minimum of $500 per month on payroll fees.
For more findings from Accounting Today, and the complete article, click here.