AI and SMBs: Navigating Opportunities and Challenges
Discover how small and medium-sized businesses (SMBs) are embracing artificial intelligence (AI) to drive growth and address challenges. Financial institutions are actively supporting SMBs in their investment endeavors, recognizing the potential of AI in enhancing competitiveness and streamlining operations. Despite challenges like budget constraints and market limitations, SMBs are keen on adopting AI to secure their market share and differentiate themselves from competitors. Learn more about the future of AI in SMBs and the role of financial institutions in supporting their adoption journey.
Accountants Providing Vital Support to Overwhelmed Business Owners Amid Cost-of-Living Crisis
Accountants are positioned to offer crucial assistance to business owners struggling with the cost-of-living crisis. Data analyst Julia Thomson warns that small businesses in Australia are facing cash flow issues and uncertainty. With factors like rising wages and reduced consumer sentiment adding to the pressure, accountants have a unique opportunity to support overwhelmed clients. The upcoming ACE24 Accounting Conference will address key industry trends, including the impact of changing customer needs and the challenge of a shrinking talent pool in the accounting field.
Small Businesses in UK Planning Significant Changes for New Tax Year, Intuit QuickBooks Survey Reveals
Intuit QuickBooks survey reveals that almost 100% of small businesses in the UK are planning significant changes for the new tax year. Top changes include using AI, reducing tax liabilities, upgrading financial management systems, and hiring accountants. Despite economic challenges, small businesses see the new tax year as an opportunity for success. Many are planning cutbacks and delaying investments due to uncertainty. Intuit QuickBooks emphasizes the importance of seeking assistance from an accountant and offers a comprehensive guide for navigating the new tax year and growing small businesses.