Small Businesses Are Seeking Financial Advisors with the Tools to Help Them Succeed [WHITEPAPER]
Today, we at LivePlan are proud to release a whitepaper entitled “Small Business Owners Seek Better Cash Flow Forecasting and Reliable Access to Credit.”
You can read the full Press Release here.
Pulling valuable data insights from Barlow Research Associates, among others, this whitepaper takes an in-depth look at what small business owners want from their financial institution when it comes to finding solutions for cash flow forecasting and accessing credit.
The findings reveal some small business owners are still seeking advisors with the tools to help them succeed.
For us, it wasn’t a huge surprise to find out just how widespread struggles with financial management are for SMBs. One of the key data findings is that 44 percent of small businesses say cash flow is a top challenge facing their business. And, according to data from Barlow Research, small businesses are in need of guidance:
- 20 percent of small businesses are unsure if they will need additional credit in the next 12 months
- 20 percent of SMBs’ credit applications were denied (and 11 percent of small business owners refrained from applying in fear of getting denied.)
The good news is that there are financial advisors with the right tools out there to help you strategize and forecast throughout the year to stay fiscally healthy, and to help you avoid preventable issues.
At LivePlan, we encourage small business owners to seek out the right people. We even help you find them with our free, Expert Advisor Directory.
Interested in the numbers? You can read the full whitepaper on Barlow’s website (complimentary to Barlow Research customers).