News Formal

8 in 10 small business owners hit by cash crunch

  • 📰 SBRMagazine
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

pstrongTo keep business their afloat, some owners use their personal savings./strong/p pSmall business owners resort to using personal savings, increasing their prices, and not paying themselves to cope with rising costs and make a profit, according to a report by Xero.

Small business owners resort to using personal savings, increasing their prices, and not paying themselves to cope with rising costs and make a profit, according to a report by Xero.

In the past 12 months, 83% of small businesses have experienced cash flow issues, affecting their ability to grow, hire new staff, and invest.Due to late payments, 27% of businesses had to pay their bills, whilst 41% needed to negotiate payment terms with suppliers, and 30% experienced stalled revenue.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Automaker Volvo Cars posts a rise in third quarter operating earningsSTOCKHOLM : Sweden-based automaker Volvo Cars reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials.Volvo Cars, majority-owned by China's Geely Holding, said operating income rose to 4.5 billion Swedish crowns ($402.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »