is the average amount of profit lost by small business owners due to inadequate financial literacy

$118,121

20 small business financial literacy statistics to know in 2024

32%

of small business owners believe that enhanced financial literacy would lead to improvements in budgeting and cash flow management

Business profitability analysis is crucial for determining whether a business is achieving sustainable growth levels.

Ami
Director - TaxHill Accountants

Benefits of Business Profitability Reporting

Enhanced Visability

Improved Decision Making

Financial Health Check

Exposing Hidden Costs

Improved Forecasting

Identify Areas of Improvement

What is included in our Business Profitability Report?

Key Performance Indicators (KPI's) Tracking

KPI's enable business owners to track and measure critical financial aspects, including revenue, expenses, profitability, and growth.

Trend Insights

This involves demonstrating revenue, expenses and profits over a period of time to identify trends and patterns.

This determines the point at which total revenue equals total costs, indicating the minimum revenue required to avoid losses.

Break-even Point

Industry Benchmarking

This involves comparing the business's profitability ratios with industry averages, if the data is available, to benchmark performance and identify areas for improvement.

Rolling Average Analysis

Financial Ratios

This analysis smooths out short-term fluctuations in data to reveal longer-term trends.

Financial ratios can detect early warning signs, such as decreasing profitability or increasing debt levels.

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