Financial literacy resources for small business owners

New research from Xero reveals a notable gap in financial literacy among Canadian small business owners. This infographic looks at how people get started in business and the common challenges they face.

A colourful infographic shows some results of the Xero survey into financial literacy in small business owners.

Understanding finances can be a challenge

Among the top challenges small business owners face after start up are optimizing tax strategies, managing cash flow, and interpreting financial metrics.

A self-employed builder checks Xero on a tablet to see how business is going.

Businesses want to grow but find it challenging

Over half of Canadian business owners surveyed say building awareness and acquiring customers is their top non-financial challenge when starting out.

A young business owners consults a paper map to help plan where to focus their marketing efforts.

Few businesses plan for the unexpected

10% of small businesses have no plan in place for unexpected expenses while 16% have yet to recover from financial issues they’ve experienced.

A bunch of bills await payment, including one that’s overdue.

Managing business finances

Here are some handy resources to help you get going when it comes to business finances.

  • Creating a budget

    Businesses need budgets. So how do you go about setting a business budget? What are the main things you need to put in?

  • Managing cash flow

    Cash flow management is vital for a growing business. Here are five rules to help you keep cash flow under control.

  • Interpreting metrics (KPIs)

    How do you measure the success of your business? KPIs (key performance indicators) can help you. Here’s how they work.

Growing your business

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