A recent survey carried out by Worldpay has revealed that one in five small business owners still use pen and paper to manage the day-to-day running of their business, despite the availability of modern technology to assist with this.
These business owners also typically spend twice the amount of time on finance and admin than they do selling. The survey also revealed that 48% of small business owners were unable to identify their top ten customers and their ordering habits, and 40% were unable to provide profit forecasts. More than half (57%) of survey respondents were unsure of their busiest trading day, and 62% could not identify their three top-selling products.
For further information about the survey, click here.