Small businesses are the backbone of thriving economies, contributing significantly to employment and innovation. However, statistics reveal that financial mismanagement is among the top reasons small businesses fail. A recent study highlighted that nearly 20% of small businesses do not survive beyond their first year, and a staggering 50% close within five years. One of the key factors driving these failures is improper bookkeeping and lack of strategic financial planning. This is where having an accountants for small business can make a world of difference. Below, we provide critical insights into why every small business, regardless of size or sector, should have an accountant on board. For more click here #accountantsforsmallbusiness