The Importance of Accounting for SMEs

The Importance of Accounting for SMEs

Accounting is the spinal cord of any business. Unfortunately, this role is largely ignored. Many entrepreneurs think that accounting is secondary because they KNOW (!!) all aspects of work. They limit the role of accounting to paying taxes without being concerned with what the financial statements monitor. Or employ a person without the necessary qualifications or experience. I met many entrepreneurs that keep pumping money into the company without knowing the reasons…..

Is my business on the brink of collapse?

Is my business on the brink of collapse?

This question haunts the minds of many entrepreneurs, especially as they sink into the cycles of their private business and seemingly endless requirements of expenses, employment, chasing these requirements like a headless chicken, putting out fires everywhere. Many entrepreneurs when they face these predicaments see the solution in pumping more money. Unfortunately, in most cases, they keep on it without any sign of ending. The fact is that they do not know the solution because...
The importance of accounting for SMEs

The importance of accounting for SMEs

One of the most important pillars of business in general and small and medium businesses in particular is the company's accounting system. Unfortunately, from my experience with many companies, this role is largely ignored. Many entrepreneurs may think that accounting is secondary because they know all aspects of work, or they limit the role of accounting to paying taxes without being concerned with what the financial statements monitor, or by employing a person without the...
What is Passion and Skill?

What is Passion and Skill?

Julia is a 30 years old administrative secretary. She always dreamt of her own bakery since she was a child, coming up with many delicious recipes. She doesn’t like the boring job she’s doing, nor she likes the long hours and the lousy pay. Julia finally made the choice to go for her own business. She made the calculations to rent a shop, model it, buy the equipment and once licensed, open its doors. She...