2011 Survey–72% of Small Business Owners Lack Financial Controls

The Fremont Group conducts an annual survey of small business owners.  There will be additional posts on other aspects of the survey.  With January posts devoted to financial control of your company we will start releasing results in that area.  SEVENTY-TWO PERCENT OF ALL RESPONDANTS INDICATED THAT THEY NEITHER HAD A BUDGET NOR PROJECTED THEIR CASH FLOW!

  • No regularly produced job costing or tracking reports
  • No regular use of a budget
  • Variance analysis reports are not regularly generated

Is there really any wonder why so many small businesses fail?  Ironically not a single member of The Fremont Group gave any of these responses.