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6 financial mistakes small businesses make all the time (Infographic)

It's all about the budget when it comes to starting a business.
By Laura Entis |

When it comes to starting a business, it is all about the budget. Maintaining a healthy bottom line is key if you want your fledgling venture to take flight and grow.

 

Too often though, small businesses make a variety of financial mistakes that allow their hard-earned money to leak away. For example, 21% of small business owners say they claim less than half of their business expenses, which means they are dramatically overpaying their taxes. A large reason for this is the tendency not to claim small figures, which is a mistake: Even $5 expense claims can add up, so get in the habit of saving your receipts.

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To discover five other common money mistakes small businesses make (along with ways to fix them), check out the infographic below courtesy of Make It Cheaper, a company that helps businesses save money on energy bills and other services.

 

 

 

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Copyright © 2016 Entrepreneur Media, Inc. All rights reserved.

This article originally appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editors.

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Photo from Influence & Co. 

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