Over 20% of SME leaders unaware of key stats

Over a fifth of SME bosses are unable to recall any key financial statistics about their business, according to research by Nucleus Commercial Finance. The research, which surveyed over 500 senior SME decision makers, also revealed that 50% were able to recall their turnover for the last financial year; 46% were able to recall the amount in their business bank account; an average of four hours per week was spent on their business’s finances, with younger business leaders spending on average six hours a week; 42% were able to recall their profit for the last financial year; and 23% were able to recall their average sales margin.

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